For Sale
$2,800,000

2802 Van Buren StPhoenix, AZ 85008

High-Cap Rate Flex Building, 5 Tenants

Overview

Added:
Dec 11, 2024
Days on market:
117
This Phoenix industrial flex property at 2802 E Van Buren St offers 6,847 square feet on a 2.19-acre lot, boasting a strong 8.38% cap rate and a substantial net operating income (NOI) of $234,406. The property, built in 1957, features C-3 zoning, allowing for diverse commercial uses. Its strategic location provides excellent ingress/egress points on E Van Buren St and N 28th St, accommodating large vehicles. The low coverage ratio (7.2%) on the expansive lot offers significant potential for expansion or future development. Benefiting from high daily traffic counts (approximately 118,500 vehicles per day), the property enjoys prominent visibility. Its proximity to Sky Harbor International Airport (approximately 2.2 miles) provides easy access to a major transportation hub. Currently housing five tenants, this multi-tenant building presents a compelling investment opportunity with a land value of $1,278,539 per acre and an asking price of $2,800,000. The property's APN is 121-68-065. No lease options are currently available.

Highlights

  • C-3 zoning allows for a wide range of commercial uses.
  • Excellent access for large vehicles via E Van Buren St and N 28th St.
  • Low 7.2% lot coverage on a ±2.19-acre site with a ±6,847 SF building, providing ample space.
  • Conveniently located ±2.2 miles from Sky Harbor International Airport.
  • High visibility with ±18,500 vehicles per day.

Property Details for 2802 Van Buren St

Property type
Industrial properties, Flex space
Square Feet
6,847 SF
Year Built
1957
Lot Size (sq. ft)
95,396 SF

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.4518058
Longitude
-112.0213451
2802 Van Buren St, Phoenix, Arizona

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2802 Van Buren St
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