1614 Roosevelt StPhoenix, AZ 85007

Property Details for 1614 Roosevelt St

Year built

1958

Construction

CONCRETE

Lot size

1.99 AC

Property size (Sq ft)

19,317 SF

Zone code

PUD

Property type

Office buildings

APN

111-16-065B

APU

11116065B

Description

This exceptional Phoenix investment opportunity presents a meticulously renovated, 29,212 square foot, multi-tenant executive office building situated on approximately 1.73 to 1.99 acres. Originally constructed in 1958 and extensively renovated in 2015, this Class B property boasts a 6.80% cap rate and an asking price of $4,615,000. The property features abundant parking (2.42 spaces per 1,000 sq ft), a gated yard, and a versatile layout including creative office spaces and functional warehouse areas. Each unit offers private HVAC, polished concrete floors, and LED lighting. Shared amenities include a conference room, break room, and restrooms. The property benefits from its Planned Unit Development (PUD) zoning, allowing for a diverse range of uses. Its historic designation adds unique character and potential eligibility for city incentives. This prime location in Phoenix, AZ (85007), near downtown, offers exceptional accessibility and a blend of historic charm and modern functionality. The property's APN is 111-16-065A.

• CAP approach

  CAP return

  Valuation

  6%

  $4,268,212

  6.5%

  $3,939,888

  7%

  $3,658,467

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,977,716

  Geo Method

  $2,977,716

• Alternative Use

  Use

  Valuation

  Residential

  $4,885,460

  Hospitality

  $4,475,056

  Educational

  $3,723,194

  Medical

  $3,851,240

  Retail

  $5,791,634

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4591

Longitude

-112.094

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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