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0 Baths 6728109 MLS
1.04-acre commercial C3-zoned parcel offers an exceptional opportunity for a wide range of developments. Situated in a prime location with excellent visibility and access, the property is ideal for businesses seeking a strategic position to capitalize on traffic and customer flow. Potential Uses: • Retail Development: Perfect for a shopping center, boutique stores, or a large retail chain, this space can accommodate multiple retail units to cater to various consumer needs. • Multi-Family Housing: The land can be developed into multi-family residential units, providing much-needed housing in a desirable area. • Auto Repair and Services: With ample space, this site is ideal for an auto repair shop, car wash, or dealership, offering convenient access for customers. Office Spaces: The property can be transformed into modern office buildings, providing flexible workspace solutions for businesses of all sizes. " Freestanding Building: An excellent location for a single, large freestanding building, suitable for a flagship store, corporate headquarters, or specialized facility. Key Features: " High Traffic Location: Benefiting from significant daily traffic, ensuring maximum visibility and customer engagement. " Accessibility: Easy access from major roads and highways, facilitating smooth transportation and logistics. " Flexible Zoning: C3 zoning allows for a broad spectrum of commercial uses, providing versatility for developers and investors. " Utilities: All essential utilities are available at the site, ensuring seamless development and operational readiness. Investment Highlights: " Growth Potential: Located in a rapidly developing area, this property offers substantial potential for growth and appreciation. " Community Demand: The diverse zoning options meet the needs of the surrounding community, promising strong occupancy and patronage. Don't miss out on this exceptional opportunity to develop a property with limitless potential in a thriving commercial area. Contact us today for more information or to schedule a site visit. The possibilities are endless.

2535 E Van Buren Street Unit -, Phoenix

0 Baths 6726810 MLS
Seller says highest and best use to lot split into 3 half acre lots ! - 1602 W. Olney Ave, Phoenix, AZ, 85041 - 2-acre lot - Zoned R10 - one house per 10,000 sqft lot - Former fire damage property - Recently been scrapped - Water meter on site - use to be on septic tank - Access to water less that 50 yards away INFORMATION FROM SELLER: Active comps are at 1.2 - 1.7 mill for a product that is over 4,000 sq ft with over 12k lots - 8503 S 9th dr, phoenix az, - Active at 1.3 mill Sold comp at 1.7 mill sold 2 months ago that really helps substantiate the values for larger builds that will help new build projects to price out for us - 1009 W Ardmore rd., Phoenix, AZ, 85041 - Call for Link to zoom pics (see the type of product that sold for 1.7 mill) numbers for build-out for 3 Lots 20k lots with 4000 sqft houses (type of product I think should be built) Homes are worth 1.5 mill plus for resale Cost per lot (2 payoff notes) 160k a lot X 3 = 480k (Cost for the dirt) Cost for Infrastructure at 70k per lot X 3 = 210k Build out $200 sqft X 4000 sqft = 800k x 3 houses =2.4 mill Total cost (not including holding cost) = $3,090,000 List all 3 new builds for 1.5 mill X 3 = $4,500,000 Minus commissions and closing cost 7.5% X 4.5 mill = $337,500 (could use flat fee listing to low this expenses) Total profit: $4,500,000 - $3,090,000 - $337,500 = $1,072,500 Return on Cash: $1,072,500 / $3,090,000 = 34.7% ROI (cash on cash) Holding cost: $3,090,000 X 10% = $463,500k for 18-month Final ROI: $609,000 / $3,553,500 = 17% Cash on cash Final ROI Some May View ROI: 19.7% (if you don't add holding cost to cash basis)

1602 W Olney Avenue Unit -, Phoenix

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