1838 Parkside LnPhoenix, AZ 85027

Property Details for 1838 Parkside Ln

Year built

2006

Construction

CONCRETE

Lot size

1.50 AC

Property size (Sq ft)

24,800 SF

Zone code

IND.PK.

Property type

Office properties

Property subtype

Office buildings

APN

209-02-107

APU

20902107

Description

This exceptional two-story, 28,479 square foot executive office building in Phoenix, Arizona's desirable Deer Valley submarket, presents a compelling investment opportunity. Boasting a 6.95% cap rate and 100% occupancy, the property is fully leased to six high-quality tenants, including Answers Aerospace, Ament Professional Services, and others. Built in 2006, the building sits on a 1.5-acre lot and features 91 parking spaces, including covered options, with a parking ratio of 3.20 per 1,000 square feet. The property benefits from a prominent location near Phoenix Deer Valley Airport, I-17, and Loop 101, surrounded by corporate neighbors and retail amenities. The building offers monument signage for tenants and modified gross leases where tenants cover utilities and janitorial services. The property is zoned IND PK, Phoenix, and is offered fee simple. With a strong in-place income stream and potential for value-add opportunities, this is an ideal investment for discerning buyers. The asking price is $5,150,000, with a price per square foot of $180.84. The Net Operating Income (NOI) is $357,676.91. The property's address is 1838 W Parkside Ln, Phoenix, AZ 85027, with cross streets of Parkside Lane and 19th Avenue. The APN is 209-02-107.

• CAP approach

  CAP return

  Valuation

  6%

  $4,688,120

  6.5%

  $4,327,496

  7%

  $4,018,389

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,822,920

  Geo Method

  $3,822,920

• Alternative Use

  Use

  Valuation

  Residential

  $5,366,094

  Hospitality

  $4,915,314

  Educational

  $4,089,483

  Medical

  $4,230,127

  Retail

  $6,361,418

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.6953

Longitude

-112.099

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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