116 Mcdowell RdPhoenix, AZ 85003

Property Details for 116 Mcdowell Rd

Year built

2007

Construction

CONCRETE

Lot size

0.22 AC

Property size (Sq ft)

2,885 SF

Zone code

DTC-MCD-1

Property type

Office buildings

APN

118-56-126

APU

11856126

Description

This exceptional three-story office building, totaling 6,883 square feet, is situated on a 0.22-acre lot in the heart of Downtown Phoenix at 116 W McDowell Rd, zip code 85003. Built in 2007 and extensively renovated in 2023, the property offers a blend of creative, executive, and traditional office spaces, making it highly versatile. Its central location provides easy access to Roosevelt Row, the Metro Light Rail, Footprint Center, Chase Field, ASU and U of A Downtown campuses, and numerous restaurants and shops. The I-10 Freeway and Sky Harbor International Airport are also within easy reach. The property's prime location benefits from the ongoing revitalization of Downtown Phoenix, with significant mixed-use development underway. This presents a unique opportunity for owner-occupancy or investment, given the current vacancy and the high demand for urban office space in this thriving area. The building features modern finishes and a desirable layout. The Maricopa County Assessor's Parcel Number (APN) is 118-56-126. The asking price is $1,975,000, translating to $286.94 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $637,459

  6.5%

  $588,423

  7%

  $546,393

• Comparable approach

  Method

  Valuation

  Relative Method

  $444,723

  Geo Method

  $444,723

• Alternative Use

  Use

  Valuation

  Residential

  $729,645

  Hospitality

  $668,351

  Educational

  $556,060

  Medical

  $575,184

  Retail

  $864,982

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4661

Longitude

-112.077

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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