2833 3Rd StPhoenix, AZ 85012

Property Details for 2833 3Rd St

Year built

1969

Construction

STEEL FRAME

Lot size

0.74 AC

Property size (Sq ft)

7,728 SF

Zone code

R-5

Property type

Office buildings

APN

118-45-011A

APU

11845011A

Description

This exceptional 0.74-acre commercial land parcel, known as "The Goldwater," presents a remarkable opportunity for development in the vibrant Midtown Phoenix area. Located at 2833 N 3rd St, Phoenix, AZ 85012, this property is zoned R-5, allowing for a variety of potential uses. The site's central location offers easy access to major employers, freeways, retail establishments, and acclaimed restaurants. The existing permit-ready plans envision a 32-unit, mid-century modern garden-style apartment community, featuring a mix of studio, one-bedroom, and two-bedroom units, each designed with spacious layouts and private balconies. This presents a turnkey opportunity for an investor or developer looking to capitalize on the strong demand for housing in this thriving area of Phoenix. The asking price for this exceptional property is $2,150,000. The property's location within Maricopa County provides access to a robust infrastructure and a dynamic local economy. The site's size and zoning make it ideal for a variety of development projects, offering significant potential for future growth and return on investment. Don't miss this chance to acquire a prime piece of real estate in one of Phoenix's most sought-after neighborhoods.

• CAP approach

  CAP return

  Valuation

  6%

  $1,707,550

  6.5%

  $1,576,200

  7%

  $1,463,614

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,191,271

  Geo Method

  $1,191,271

• Alternative Use

  Use

  Valuation

  Residential

  $1,954,488

  Hospitality

  $1,790,300

  Educational

  $1,489,509

  Medical

  $1,540,735

  Retail

  $2,317,014

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4793

Longitude

-112.069

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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