2405 Southern AveTempe, AZ 85282

  • Office properties
  • 4,480 SF
For Sale

Property Details for 2405 Southern Ave

Year built
1979
Construction
STEEL FRAME
Lot size
0.91 AC
Property size (Sq ft)
4,480 SF
Zone code
RO
Property type
Office properties
Property subtype
Office buildings
APN
134-44-358
APU
13444358

Description

This 4,327 square foot medical office condominium, located in Building B of the Hudson Place Professional Condominiums at 2405 E Southern Ave, Tempe, AZ 85282 (APN 134-44-361A), presents a unique owner-user investment opportunity. The property, built in 1979 and currently undergoing renovations, is classified as a Class B multi-tenancy building with a general office buildout. It's zoned RO & PCC-1 and offers ample parking, with a ratio of 5.59 spaces per 1,000 square feet. Situated at the gateway to Mesa/Tempe, this location benefits from high visibility on Southern Avenue, near the Loop 101 Pima Freeway, experiencing nearly 33,000 cars daily. Its prime location offers superior proximity to Banner Desert Medical Center and Tempe St. Luke's, providing excellent access to major East Valley freeways. This landmark property, part of a 15-building complex, has a long history of successful medical and general office tenants. Now, for the first time, these buildings are being offered for sale as individual professional condominiums, allowing for ownership of a piece of history at the intersection of US 60 and the Loop 101. Pricing details are available upon request.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,310,403
    6.5%
    $1,209,602
    7%
    $1,123,202
  • Comparable approach

    Method
    Valuation
    Relative Method
    $928,279
    Geo Method
    $928,279
  • Alternative Use

    Use
    Valuation
    Residential
    $1,499,907
    Hospitality
    $1,373,907
    Educational
    $1,143,074
    Medical
    $1,182,386
    Retail
    $1,778,116
2405 Southern Ave, Tempe, Arizona

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.3924
Longitude
-111.887
CBSA code
38060
CBSA name
PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$11,756
-
-
$134,079
-
$487,600
$325,000
$812,600

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