1602 Roosevelt StPhoenix, AZ 85006

Property Details for 1602 Roosevelt St

Year built

1972

Construction

CONCRETE

Lot size

8.78 AC

Property size (Sq ft)

91,303 SF

Zone code

PSC

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

116-15-092B

APU

11615092B

Description

This exceptional opportunity presents rare ground lease pads situated at the high-traffic intersection of 16th Street and Roosevelt in Phoenix, Arizona (85006). The property boasts a prominent location near Downtown Phoenix and the I-10 freeway, benefiting from a substantial daily traffic volume of 40,000 vehicles. The site is anchored by a Los Altos Ranch Market grocery store, creating a strong retail environment. Available pad sizes range from 0.25 acres to 1.68 acres, offering flexibility for various commercial uses. Ideal for businesses such as drive-through restaurants, coffee shops, or auto services, these pads represent a unique chance to establish a presence in a dense urban infill market. The property is classified as retail land with single tenancy and is located in Maricopa County. This is a ground lease opportunity. The precise acreage and lease terms are available upon request. Don't miss this chance to secure a prime location in a thriving Phoenix neighborhood. Contact us today to learn more about this exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $29,655,732

  6.5%

  $27,374,520

  7%

  $25,419,198

• Comparable approach

  Method

  Valuation

  Relative Method

  $35,467,380

  Geo Method

  $35,467,380

• Alternative Use

  Use

  Valuation

  Residential

  $23,091,432

  Hospitality

  $21,151,628

  Educational

  $17,597,906

  Medical

  $18,203,126

  Retail

  $27,374,520

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4596

Longitude

-112.046

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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