For Sale
$2,650,000

3820 3Rd StPhoenix, AZ 85012

9,435 SF Office, 5.66% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This single-story, 9,435-square-foot office building in Phoenix, AZ, presents a compelling investment opportunity. Located at 3820 N. 3rd Street, this property boasts a desirable C-2 zoning designation from the City of Phoenix, allowing for a variety of uses. Built in 1975 and renovated in 2014, the building sits on a 0.96-acre lot (41,649 square feet) and offers ample parking with a 6:1,000 ratio (approximately 61 spaces). The asking price is $2,650,000, representing a price per square foot of $280. The property's current Net Operating Income (NOI) is $150,000, yielding a 5.66% capitalization rate. The building is currently vacant, with an occupancy date of October 4, 2024. The property is offered as a single-tenant, NNN lease with a 10-year lease term, although currently only one year remains. The land value alone is estimated at $6 per square foot. The Assessor's Parcel Number (APN) is 118-25-043B. This property is an excellent opportunity for investors seeking a strong return in a prime Phoenix location. The building features a flat roof and is ready for immediate occupancy or lease.

Highlights

  • Single-story building
  • 9,435 square feet
  • Asking price: $2,650,000
  • $17.00 per square foot, NNN rent
  • C-2 zoning
  • 6 parking spaces per 1,000 square feet

Property Details for 3820 3Rd St

Property type
Office properties
Square Feet
9,435 SF
Class
C
Year Built/Renovated
1975/2014
Buildings
1
Stories
1
Lot Size (sq. ft)
41,818 SF
Units
1

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.4918151
Longitude
-112.0698766
3820 3Rd St, Phoenix, Arizona

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3820 3Rd St
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