4140 108Th AvePhoenix, AZ 85037

Property Details for 4140 108Th Ave

Year built

2005

Construction

CONCRETE

Lot size

0.03 AC

Property size (Sq ft)

4,518 SF

Zone code

C-O

Property type

Office buildings

APN

102-58-677

APU

10258677

Description

This exceptional 1,499 square foot office condo in Phoenix, Arizona's Garden Lakes Professional Plaza presents a compelling investment opportunity. Built in 2004, this single-story building (APN: 102-58-678, 102-58-679, 102-58-677) is currently occupied under a new, triple-net (NNN) lease commencing August 2024 and extending through July 2029. The lease includes a 3% annual rent increase, ensuring consistent income growth. The tenant, Advanced Pain Management, is responsible for all repairs and expenses, including HVAC, significantly reducing landlord responsibilities. Common area maintenance is handled by a homeowner's association. Located at 4140 N 108th Ave, Phoenix, AZ 85037, this property benefits from its convenient access to major transportation arteries like I-10 and Phoenix Goodyear Airport, as well as nearby attractions such as State Farm Stadium, Tanger Outlets, and Gila River Arena. This property is part of a larger portfolio of seven properties available for sale individually or as a package. The asking price is $410,058, representing a price per square foot of $273.55. This is a strong investment opportunity in a prime Phoenix location with a secure, long-term lease in place.

• CAP approach

  CAP return

  Valuation

  6%

  $1,082,418

  6.5%

  $999,155

  7%

  $927,786

• Comparable approach

  Method

  Valuation

  Relative Method

  $696,450

  Geo Method

  $696,450

• Alternative Use

  Use

  Valuation

  Residential

  $1,238,952

  Hospitality

  $1,134,873

  Educational

  $944,201

  Medical

  $976,674

  Retail

  $1,468,757

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4945

Longitude

-112.294

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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