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CHESTERFIELD CENTER

1002 N 3rd St, Phoenix, AZ 85004

$1,892,772

19,314 SF | Office

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PROPOSED RENDERING

Office Property For Sale Get Financing

Price:
$1,892,772
Building Size:
19,314 SF
Price/SF:
$98
Property Type:
Office
Property Sub-type:
Office Building
Additional Sub-types:
Institutional/
Governmental
Office-Business Park
Office Condo
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
7.80%
Building Class:
B
Tenancy:
Multiple
Lot Size:
34,390 SF
Listing ID
18299601
Last Updated
today

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Highlights

  • GREAT VISIBILITY ALONG MAJOR ROAD
  • MULTIPLE DEVELOPMENT OPTIONS
  • CONVENIENT FREE WAY ACCESS
  • COVERED PARKING WITH MATURE TREES

Description

One of the best locations in Downtown Phoenix right on the busy intersection of N 3rd St and E Roosevelt St less than a minute away from I-10 exit right next to a vibrant and growing combination of residential, retail, government and educational facilities. Across the street from a brand new 300+ unit apartment complex (grand opening Fall 2013), ½ mile away from rapidly growing ASU Downtown Campus (with over 10,000 undergraduate and graduate students), Biotech Campus and Research Center (under construction), Phoenix Convention Center, multiple hotels and just 10 minutes away from Sky Harbor International Airport. Great I-10 access with under 5 minutes to either I-17, SR-51, SR-60 and Loop 2002 provides for fast and convenient access to all parts of the Valley. Outstanding visibility along the frontage of both N 3rd St and E Roosevelt St (average daily traffic of approximately 25,000 vehicle in 2011) with a variety of businesses along N 3rd St catering a large number of services to over 350,000 residents in 5 mile radius.

Depending on the buyer's circumstances this property might be eligible for 1031 Exchange, as well as 401k and IRA financing.

Target property is situated in the Downtown Phoenix submarket (within the high-rise overlay district), the Chesterfield Center is a 19,314 sqft 3 story multitenant office building located on 0.79 acre parcel (3 individual APNs) on the busy intersection with great visibility on the northwest corner of N 3rd St and E Roosevelt St. The cement, masonry and brick construction with stucco and glass accents was finished in 1983 and features flat roof and wooden and stud frame inside. Plenty of visitor and covered parking (total of 67 spaces), attractive landscaping with mature trees, flexible interior space suitable for a variety of potential uses (such as office and business environment, retail, food court, minimart, church, school, art gallery and multiple others), close access to fiber optic cables. Probably one of the most visible and recognizable buildings in the area with over 325 ft of high volume traffic exposure on E Roosevelt St and N 3rd St provides for high visibility and ideal signage and advertisement opportunity.

Financial Summary

  • Proforma
  • $135,330

Map of 1002 N 3rd St, Phoenix, AZ 85004 (Maricopa County)

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Asking Price Index Trends for Phoenix, AZ Office For Sale

  Mar 14 vs. 3 mo.
prior
Y-O-Y
-
State
$130+3.6%+5.2%
-
Metro
$126+4.8%+5.9%
-
County
$127+4.7%+6.1%
-
City
$112+1.3%+4.8%

View Phoenix Market Trends for other property types for sale or lease. Learn more about the chart info.

Created 8/6/2013
CHESTERFIELD CENTER
  • Office
  • $1,892,772
  • 19,314 SF