10211 32Nd StPhoenix, AZ 85028

Property Details for 10211 32Nd St

Year built

1978

Construction

CONCRETE

Lot size

0.95 AC

Property size (Sq ft)

2,380 SF

Zone code

C-O

Property type

Office buildings

APN

165-02-006K

APU

16502006K

Description

This Phoenix medical office building, located at 10211 N. 32nd Street, presents a compelling owner-user opportunity. The 12,799 square foot property, built in 1978, consists of three single-story buildings situated on a one-acre lot (APN 165-02-006J). Currently housing three tenants with a modified lease structure, 6,843 square feet are immediately available for an owner-occupier. The asking price is $2,175,000, translating to $169.94 per square foot. The property is zoned C-O and boasts a prime location near Highway 51 and 32nd Street, benefiting from proximity to thriving retail developments including Starbucks, Press Coffee, and others. The property's location in a rapidly developing area, close to the PV Mall Redevelopment, offers significant long-term growth potential. The building's multi-tenant occupancy provides immediate income, allowing a buyer to leverage existing rental revenue. This presents an ideal opportunity for a medical practice seeking a headquarters, a daycare, or a preschool, or any business seeking a strategic location in a high-growth area. The occupancy date is November 18, 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $388,630

  6.5%

  $358,735

  7%

  $333,111

• Comparable approach

  Method

  Valuation

  Relative Method

  $366,877

  Geo Method

  $366,877

• Alternative Use

  Use

  Valuation

  Residential

  $444,832

  Hospitality

  $407,463

  Educational

  $339,005

  Medical

  $350,664

  Retail

  $527,341

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.5791

Longitude

-112.012

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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