3930 Ray RdPhoenix, AZ 85044

Property Details for 3930 Ray Rd

Year built

1998

Construction

STEEL FRAME

Lot size

2.86 AC

Property size (Sq ft)

41,136 SF

Zone code

C-2

Property type

Office buildings

APN

306-04-115

APU

30604115

Description

This exceptional Phoenix office space, located within the Foothills Center at 3930 E Ray Rd, 85044, offers 1,567 square feet of high-end, first-floor office/medical space. The building, a Class B property totaling 41,084 square feet, underwent renovations in 2022 and boasts a desirable location in Ahwatukee. The space features a modern build-out, ready for immediate occupancy. The Foothills Center provides ample covered and surface parking for tenants and visitors. Common areas include a striking lobby/atrium entrance and well-maintained restrooms. The property sits on a 2.85-acre lot and is zoned C-2, Phoenix. Built in 1998, this property offers a blend of established infrastructure and recent upgrades. With only this one space remaining, this presents a unique opportunity to secure prime office space in a thriving Phoenix neighborhood. The Maricopa County location offers easy access to major transportation routes and local amenities. The property's APN is 306-04-115. Currently, 2,634 square feet of the building is vacant. This is a multi-tenant building.

• CAP approach

  CAP return

  Valuation

  6%

  $6,401,038

  6.5%

  $5,908,650

  7%

  $5,486,604

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,341,114

  Geo Method

  $6,341,114

• Alternative Use

  Use

  Valuation

  Residential

  $7,326,726

  Hospitality

  $6,711,242

  Educational

  $5,583,674

  Medical

  $5,775,706

  Retail

  $8,685,716

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.3183

Longitude

-112.001

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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