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OFFERING MEMORANDUM - LoopNet ... Palo Alto Office Sacramento/Reno Office Palo Alto Office Palo Alto Office Tel: (650) 391-1774 Tel: (916) 724-1400 Tel: (650) 391-1796 Tel: (650) 391-1797

Jun 25, 2020

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    Steve Broker Steve Broker John Agent John Agent Executive Vice President Investments First Vice President Investments Vice President Investments Vice President Investments Palo Alto Office Sacramento/Reno Office Palo Alto Office Palo Alto Office Tel: (650) 391-1774 Tel: (916) 724-1400 Tel: (650) 391-1796 Tel: (650) 391-1797 Fax: (650) 391-1715 Fax: (916) 724-1410 Fax: (650) 391-1715 Fax: (650) 391-1715 [email protected] [email protected] [email protected] [email protected] License: CA 01234567 License: CA 01234567

    NV 01234 License: CA 01234567 License: CA 01234567

    P R E S E N T E D B YP R E S E N T E D B Y

    DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET

    1502 E Van Buren St • Phoenix, AZ 85006

    OFFERING MEMORANDUM

    Douglas R. Fielding, Jr. Associate Phoenix Office Tel: (602) 687-6765 Fax: (602) 687-6722 [email protected] License: AZ SA647849000

  • N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

    Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

    Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

    ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

    DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET Phoenix, AZ ACT ID Z0070214

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  • DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET

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    INVESTMENT

    OVERVIEW

  • OFFERING SUMMARY

    Price $110,000

    Down Payment 100% / $110,000

    Loan Type All Cash

    Lot Size (SF) 6,665

    Price/SF $16.50

    Lot Size (Acres) 0.15 acre(s)

    Price/Acre $718,920

    Price/Unit $0

    Density 14.5

    Allowable Buildable SF 3,325

    Number of Lots 1

    Price/Lot $110,000

    Type of Ownership Fee Simple

    #

    EXECUTIVE SUMMARY

    OFFERING SUMMARY

    #

    ASSET PERFORMANCE DATA

    CURRENT

    CAP Rate 0.0%

    Net Operating Income $0

    Net Cash Flow 0.00% / $0

    DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET

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    DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET

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    OFFERING SUMMARY

    MAJOR EMPLOYERS

    EMPLOYER # OF EMPLOYEES *

    Freeport-Mcmoran Miami Inc 10,530

    Astraco LLC 6,500

    Associated Insur Co For Excess 5,003

    Central Valley Insulation 4,772

    Arizona Department Trnsp 4,700

    Police Department 4,661

    Communication and Cmnty Partnr 4,500

    City of Phoenix 3,750

    Parks and Recreation Dept 3,663

    Viads Mktg & Events Group 3,054

    Cyprus Climax Metals Company 2,930

    Human Services Department 2,897

    DEMOGRAPHICS

    1-Miles 3-Miles 5-Miles

    2017 Estimate Pop 15,937 118,096 350,767

    2010 Census Pop 13,972 106,017 317,171

    2017 Estimate HH 5,081 39,809 123,355

    2010 Census HH 4,568 36,751 114,247

    Median HH Income $18,574 $31,165 $34,714

    Per Capita Income $11,010 $17,490 $19,414

    Average HH Income $31,329 $48,981 $53,425

    * # of Employees based on 5 mile radius

  • DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET

    OFFERING SUMMARY

    § Busy Downtown Phoenix Van Buren Automotive Corridor Location.

    § Across from James Beard Award-Winning Chef Chris Bianco's Roland's Cafe

    Market Bar.

    § Hard Corner Exposure.

    § Nearby Access to All Freeways.

    § C-3 Zoning, Many Types of Businesses Would Do Well in This Location.

    § Motivated Seller, Bring All Offers.

    INVESTMENT HIGHLIGHTS

    Marcus & Millichap is pleased to present the opportunity to acquire a vacant commercial infill land parcel in the heart of Phoenix, Arizona. The commercially zoned hard-

    corner lot is located in the downtown area on East Van Buren Street, a major arterial thoroughfare connecting Downtown Phoenix to the 44th Street/Gateway corridor and

    the City of Tempe to the east. Van Buren Street is the downtown areas primary automotive corridor, a popular used automobile trade area that features many used car

    dealerships and auto repair businesses. The well-exposed hard corner has 50 feet of frontage along East Van Buren Street (16,703 VPD) and 133 feet of frontage along

    North 15th Street. The site benefits from significant redevelopment opportunity and activity in the immediate vicinity. James Beard Award Winning Chef Chris Bianco's

    new Roland's Cafe Market Bar, an adaptive reuse of a historical building, is across the street.

    Centrally situated on what was once the most traveled street in Phoenix, the location provides immediate proximity to major employers, business centers, government

    offices and top-quality civic, sports, cultural and entertainment venues. In addition, the area is very walkable. The property is within walking distance of every Walkable

    Urban amenity in a vibrant downtown that includes prominent university campuses such as the new University of Arizona College of Medicine, hospital campuses like St.

    Lukes Medical Center, and boasts a variety of hotels, restaurants

    and other popular establishments. These immensely positive attributes of the locale are supporting revitalization measures along East Van Buren Street, encouraging

    private and public efforts to identify redevelopment opportunities in the immediate area. Rising development standards and plans for higher density and intensity of land

    use surrounding the site are influencing change and stabilization in what was once a problematic area. This high-transition area is being impacted by the explosive

    economic growth of Phoenix' s downtown corridor and the city's planned rejuvenation of it's historic Van Buren Street.

    INVESTMENT OVERVIEW

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  • DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET

    PROPERTY SUMMARY

    OFFERING SUMMARY

    THE OFFERING

    Property Downtown Phoenix C-3 Zoned Hard Corner Lot Across From Roland's Market Price $110,000

    Property Address 1502 E Van Buren St, Phoenix, AZ

    Assessors Parcel Number 116-18-027

    Zoning C-3

    General Plan Commercial, Eastlake-Garfield Transit-Oriented Development District Lot Size Dimensions 50' x 133'

    SITE DESCRIPTION

    Lot Size (SF) 6,650

    Price/SF $16.54

    Lot Size (Acres) 0.153

    Price/Acre $718,954

    Allowable Buildable SF 3,350

    Number of Lots 1

    Type of Ownership Fee Simple

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    LOCATION OVERVIEW

    CLOSE PROXIMITY TO:

    1502 E Van Buren St, Phoenix, AZ 85006

    LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

    PROPERTY NAMEDOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET

    PRICING AND VALUATION MATRIX

    PROPERTY NAME

    DOWNTOWN PHOENIX C-3 ZONED HAR

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