3031 Van Buren StPhoenix, AZ 85009

Property Details for 3031 Van Buren St

Year built

1974

Construction

CONCRETE

Lot size

3.21 AC

Property size (Sq ft)

11,020 SF

Zone code

C-3

Property type

Strip malls

Property subtype

Neighborhood centers

APN

109-36-060A

APU

10936060A

Description

This exceptional 2-acre commercial land parcel, located at 3031 W Van Buren St, Phoenix, AZ 85009 (APN 109-36-060A), presents a unique investment opportunity. Situated in a rare City of Phoenix C-3 zoning district, this property allows for a wide range of intensive commercial uses. The site is conveniently located within a Difficult Development Area (DDA), offering significant advantages for LIHTC developers, including a 30% basis boost in qualified costs. Its strategic location provides easy access to major transportation arteries, including Interstate 10 (1 mile), Interstate 17 (2 miles), and Loop 202 (3 miles), as well as Phoenix Sky Harbor International Airport (11.7 miles, approximately 20-minute drive). A Valley Metro Phoenix Transit Bus stop is directly in front of the property. The property includes a former mobile home park (approximately 2 acres) that requires separate permitting for sale or development; a retail building (11,020 sq ft) is not included in this offering. Permitted uses under the C-3 zoning include, but are not limited to, self-service storage warehouses, multifamily residential (subject to General Plan Map designation and specific requirements), and other non-single-family residential uses. Detailed zoning information is available upon request. This property offers substantial potential for developers seeking a prime location with significant development flexibility.

• CAP approach

  CAP return

  Valuation

  6%

  $2,520,736

  6.5%

  $2,326,833

  7%

  $2,160,630

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,280,807

  Geo Method

  $4,280,807

• Alternative Use

  Use

  Valuation

  Residential

  $1,962,770

  Hospitality

  $1,797,887

  Educational

  $1,495,821

  Medical

  $1,547,265

  Retail

  $2,326,833

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4505

Longitude

-112.125

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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