1543 Van Buren StPhoenix, AZ 85006

Property Details for 1543 Van Buren St

Year built

1951

Construction

CONCRETE

Lot size

0.29 AC

Property size (Sq ft)

4,000 SF

Zone code

C-3

Property type

Retail properties

Property subtype

Auto shops

APN

116-46-148

APU

11646148

Description

This exceptional 5,000-square-foot retail property, situated on a prominent 0.55-acre corner lot at the southwest intersection of Van Buren and 16th Street in Phoenix, Arizona (85006), presents a compelling investment opportunity. Currently operating as a fully permitted collision center with a paint booth, this single-story, Class C building boasts 5,200 square feet of net rentable space and enjoys 100% occupancy. The property, built in 1971 and zoned C-3, offers significant potential for owner-users or investors. The asking price is $1,650,000, translating to $330 per square foot. The property generates a strong net operating income (NOI) of $144,000, resulting in a pro-forma cap rate of 8.73%. The high-traffic location sees approximately 42,000 vehicles daily (based on a 2022 MPSI estimate), and is within a half-mile radius of multiple multi-family and retail developments. The seller is open to various transaction structures, including an outright sale to an owner-user, a leaseback arrangement, and seller financing. The current lease generates $5,500 per month in net rent under a NNN lease. This is a rare opportunity to acquire a well-located, income-producing property in a rapidly developing area of Phoenix.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4511

Longitude

-112.048

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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