2405 Southern AveTempe, AZ 85282

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 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.

• 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

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

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