2406 24Th StPhoenix, AZ 85034

Property Details for 2406 24Th St

Lot size

4.55 AC

Zone code

A-2

Property type

Office properties

APN

115-32-069

APU

11532069

Description

This exceptional 7,615-square-foot industrial property, located at 2406 S 24th St., Building B, Phoenix, AZ 85034, presents a unique investment opportunity. Situated on a 0.185-acre lot (8,037 square feet), this Class B building boasts a prime location near Phoenix Sky Harbor International Airport, with convenient access to I-10 and 24th Street. The single-story structure, built in 1979 and extensively renovated in 2024, features a 12-foot ceiling height, ten dock-high doors, and ample parking for 27 vehicles. The building is zoned A-2 Industrial and offers three suites (102, 103, and 104), totaling 7,615 square feet. Currently, Suite 104 is leased, while Suites 102 and 103, encompassing 5,545 square feet of vacant space, are immediately available. Recent renovations include the installation of three-phase high and low voltage power, nine 5-ton AC units, resurfaced floors, and fresh paint, making the space ready for immediate occupancy or build-out. The concrete building includes HVAC and large roll-up doors, providing a versatile and functional space ideal for various industrial uses, including warehouse, flex, manufacturing, or distribution.

• CAP approach

  CAP return

  Valuation

  6%

  $34,977,900

  6.5%

  $32,287,300

  7%

  $29,981,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $30,574,000

  Geo Method

  $30,574,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $68,008,200

  Retail / Commercial

  $34,004,700

  Mixed-Use / Specialty

  $33,198,300

  Hospitality / Lodging

  $23,464,400

  Institutional / Educational

  $34,267,900

  Residential Income

  $40,093,400

  Multifamily

  $51,884,700

  Automotive / Energy

  $29,372,500

  Parking / Income-Based Land

  $10,813,100

  Restaurant / Food Service

  $15,804,300

  Healthcare / Senior Housing

  $34,746,900

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4263

Longitude

-112.031

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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