4646 Van Buren StPhoenix, AZ 85008

Property Details for 4646 Van Buren St

Year built

2001

Construction

CONCRETE

Lot size

10.87 AC

Property size (Sq ft)

119,540 SF

Zone code

C-2

Property type

Office properties

Property subtype

Office buildings

APN

125-27-087A

APU

12527087A

Description

This exceptional investment opportunity presents two Class A office buildings totaling ±230,864 square feet in Phoenix, Arizona. Located at 4646 & 4846 E Van Buren St, this multi-tenant property boasts a ±73% occupancy rate with a diverse mix of high-quality tenants, including several publicly traded companies. Significant renovations totaling $4.7 million were completed between 2019 and 2024, encompassing building systems upgrades and tenant improvements. The property features flexible floor plates averaging ±28,800 square feet, ideal for accommodating tenants of various sizes. The strategic location offers freeway visibility from SR-143, providing excellent signage opportunities. It's also a true transit-oriented development (TOD), within walking distance of the Metro Light Rail and near four freeways and Sky Harbor International Airport. The property benefits from its proximity to Tempe's Mill Avenue Entertainment District. Ample parking is provided with a two-story, 561-space parking garage, plus 397 surface and 75 covered spaces, resulting in a 4.47/1,000 sq ft ratio. The property sits on a 10.87-acre lot, zoned C-2, and comprises two four-story buildings constructed in 2001 and 2005. An upcoming tenant vacancy in October 2025 presents a unique opportunity for investors to capitalize on the submarket's growing demand. The 44th Street Corridor exhibits a low direct vacancy rate of ±14.8% and a sublease vacancy of only 0.5%. This property offers a compelling combination of strong location, recent renovations, and significant upside potential. APN: 125-27-087.

• CAP approach

  CAP return

  Valuation

  6%

  $18,601,228

  6.5%

  $17,170,364

  7%

  $15,943,909

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,427,092

  Geo Method

  $18,427,092

• Alternative Use

  Use

  Valuation

  Residential

  $21,291,250

  Hospitality

  $19,502,672

  Educational

  $16,225,994

  Medical

  $16,784,030

  Retail

  $25,240,434

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4524

Longitude

-111.985

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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