4019 10Th StPhoenix, AZ 85014

Property Details for 4019 10Th St

Year built

1946

Construction

CONCRETE

Lot size

0.13 AC

Property size (Sq ft)

1,350 SF

Zone code

M-M

Property type

Retail properties

Property subtype

Auto shops

APN

118-03-036

APU

11803036

Description

This exceptional commercial property presents a unique investment opportunity in the heart of rapidly gentrifying Midtown Phoenix. The offering encompasses two buildings situated on a combined 22,944 square foot lot, with addresses at 4019 N 10th St and 1002 E Fairmount Ave, both in the 85014 zip code. The property includes a multifamily component (a two-story duplex built in 1930, featuring two units in a garden-style configuration) and a high-visibility auto repair shop currently leased for $2400 per month, with the lease expiring October 2024. Recent upgrades include a new roof, updated electrical service, and security gates. The property is zoned R3, allowing for multifamily development, and presents a compelling redevelopment opportunity. The buildings total between 1,350 and 2,700 square feet, with current occupancy at 50%. The property is conveniently located near the Camelback Corridor, providing easy access to Town and Country Shopping Center and Camelback Colonnade Shopping Mall. This fee-simple ownership opportunity offers significant potential for future income growth and appreciation. The seller is offering owner financing with 20% down and a 5/30 amortization schedule. APN numbers are 118-03-035 and 118-03-036. This is a rare chance to acquire a mixed-use property in a prime location with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $438,488

  6.5%

  $404,758

  7%

  $375,847

• Comparable approach

  Method

  Valuation

  Relative Method

  $524,418

  Geo Method

  $524,418

• Alternative Use

  Use

  Valuation

  Residential

  $341,428

  Hospitality

  $312,747

  Educational

  $260,201

  Medical

  $269,150

  Retail

  $404,758

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4936

Longitude

-112.061

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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