723 Grand AvePhoenix, AZ 85007

Property Details for 723 Grand Ave

Year built

1925

Construction

CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

12,615 SF

Zone code

C-3

Property type

Retail properties

Property subtype

Retail space

APN

111-30-091

APU

11130091

Description

This exceptional Downtown Phoenix property, located at 723-747 Grand Avenue, offers 41,500 square feet of versatile commercial space. The two-building complex, boasting a Class A designation, features a blend of coworking, creative office, flex, warehouse, and distribution spaces, making it suitable for a variety of businesses. Built in 1917 and extensively renovated in 2013, the property showcases a unique blend of historical charm and modern functionality. The buildings offer 13-foot ceilings, three drive-in doors, and one elevator across two stories. With a minimum divisible space of 6,250 square feet and a maximum contiguous space of 12,500 square feet, the property is adaptable to various business needs. Currently, 12,500 square feet is vacant. The property sits on a 41,875 square foot lot with 352 feet of frontage and is zoned C-3. The property includes ample parking, a secured yard, and built-out offices. Its prime location in the Downtown Phoenix submarket of Maricopa County, Arizona (zip code 85007), provides excellent access to transportation and amenities. The property's APN is 111-30-095, 111-30-094, 111-30-093A, 111-30-092C, 111-30-092B, 111-30-092A, 111-30-091.

• CAP approach

  CAP return

  Valuation

  6%

  $4,097,424

  6.5%

  $3,782,237

  7%

  $3,512,077

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,900,398

  Geo Method

  $4,900,398

• Alternative Use

  Use

  Valuation

  Residential

  $3,190,458

  Hospitality

  $2,922,443

  Educational

  $2,431,438

  Medical

  $2,515,059

  Retail

  $3,782,237

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4519

Longitude

-112.084

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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