232 Mcdowell RdPhoenix, AZ 85004

Property Details for 232 Mcdowell Rd

Year built

1961

Construction

CONCRETE

Lot size

1.22 AC

Property size (Sq ft)

3,439 SF

Zone code

DTC-TWNPK

Property type

Commercial real estate

APN

118-55-005E

APU

11855005E

Description

This exceptional 71,259 square foot lot presents a prime multi-family development opportunity in the heart of Phoenix, Arizona. Located at 232 E McDowell Rd, this fee simple property boasts a highly desirable DTC zoning designation, allowing for the construction of up to 150 residential units. The site's strategic location between Downtown and Midtown Phoenix offers unparalleled connectivity, with direct access to Interstate 10 providing convenient East/West travel. The maximum building height permitted is 90 feet, providing significant potential for a high-density, high-value development. The property's APN is 118-55-005E, and it is situated in Maricopa County, Arizona, zip code 85004. This is a truly rare opportunity to acquire a trophy site in one of Phoenix's most dynamic and rapidly growing neighborhoods. The property's high profile location and development potential make it an exceptional investment for discerning developers seeking a landmark project. This central core location offers unmatched access to amenities, employment centers, and transportation infrastructure. The significant lot size and zoning allowances provide ample flexibility for a variety of multi-family development concepts. Don't miss this chance to secure a piece of Phoenix's vibrant future.

• CAP approach

  CAP return

  Valuation

  6%

  $861,184

  6.5%

  $794,939

  7%

  $738,158

• Comparable approach

  Method

  Valuation

  Relative Method

  $530,122

  Geo Method

  $530,122

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,554,990

  Retail / Commercial

  $799,362

  Mixed-Use / Specialty

  $798,064

  Hospitality / Lodging

  $587,535

  Office

  $794,939

  Institutional / Educational

  $830,220

  Residential Income

  $971,357

  Multifamily

  $1,156,390

  Automotive / Energy

  $711,617

  Parking / Income-Based Land

  $244,037

  Restaurant / Food Service

  $418,391

  Healthcare / Senior Housing

  $816,808

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4663

Longitude

-112.07

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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