24825 16Th AvePhoenix, AZ 85085

Property Details for 24825 16Th Ave

Lot size

0.52 AC

Zone code

CP/GCP

Property type

Office properties

APN

210-07-064

APU

21007064

Description

This exceptional Class A, 4,704 square foot industrial condo in Phoenix's desirable Deer Valley Pinnacle Peak Industrial Park presents a compelling net lease investment opportunity. Currently 100% occupied by Hays Cooling Heating & Plumbing under a NNN lease with 2.2 years remaining and a 3-year option already exercised, extending the lease to May 31, 2026. The property boasts a strong annual rent bump of 2.5%, ensuring consistent income growth. Built in 2008, this two-unit building offers a stable investment with a current NOI of $52,983 and a cap rate of 3.95%. The strategic location within Deer Valley provides excellent access to major transportation arteries (I-17 and Loop 101), benefiting from the submarket's thriving industrial sector and consistent demand for industrial properties. The tenant's recent lease of an adjacent suite underscores their commitment to the location and strong business performance. This property is an ideal investment for those seeking stable income and potential appreciation in a rapidly growing market. The asking price is $1,340,000, translating to $284.86 per square foot. The property benefits from Phoenix's robust economic expansion and the diverse tenant base common in the Deer Valley submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $4,308,156

  6.5%

  $3,976,759

  7%

  $3,692,705

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,513,078

  Geo Method

  $3,513,078

• Alternative Use

  Use

  Valuation

  Residential

  $4,931,181

  Hospitality

  $4,516,936

  Educational

  $3,758,037

  Medical

  $3,887,282

  Retail

  $5,845,836

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.7116

Longitude

-112.094

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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