8900 22Nd AvePhoenix, AZ 85021

Property Details for 8900 22Nd Ave

Year built

1985

Lot size

3.38 AC

Property size (Sq ft)

125,172 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional 125,172 square foot, three-story office building in Phoenix, Arizona presents a compelling value-add or owner-user opportunity. Renovated in 2022, the property boasts a modern central atrium, abundant natural light, and a three-level parking structure with approximately 500 spaces (a 3.99:1,000 sq ft ratio). The first floor common areas feature updated finishes and LED lighting. Much of the interior space is in shell condition, offering significant flexibility for customization to suit various tenant needs, from small suites to full-floor occupants. The building's location on the I-17 corridor provides excellent freeway access and proximity to the Valley Metro Light Rail 19th Avenue/Dunlap station, recently extended in January 2024. This prime location benefits from a large labor pool and the positive transformative impact of the light rail, which has spurred over $17 billion in public and private investment since 2008. The property sits on a 3.38-acre lot and is zoned R-5 (Multifamily Residence District- Restricted Commercial), previously IND.PK. (Industrial Park). Built in 1985, this Class B building offers a unique chance to reposition a high-quality asset in a rapidly developing area, near the MetroCenter Village redevelopment project. The asking price is $11,275,000 ($90.08/sq ft). The property is situated in a Qualified Opportunity Zone.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.566

Longitude

-112.107

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