3225 N Central Ave
Phoenix, AZ 85012
One Lexington Retail/Office Condo · Multifamily Property For Sale · 155 Units

Location, location, location. Located in the heart of Midtown Phoenix, One Lexington is an opportunity to own a “Live/work” office/retail condo in the prestigious highrise residential project across the street from the newly energized Park Central Mall. There are very few opportunities to own a ground floor +/-4,231 square foot property with a Central Avenue address at a light rail station. This property has the advantage of being in a residential highrise, but on the ground floor with its own exterior entrance. There is an abundant amount of parking allocated to this suite and the parking is a very short distance from the entrance. The interior of the property features high ceilings and open floor plans. The cost to operate this property is estimated to be $8.60/SF for 2020. The location is across the street from Park Central Mall which has recently added a nine-story multifamily residential development, a $100 million 180,000 square foot Creighton University health sciences campus, and other renovations and redevelopment of existing buildings on that site. The redevelopment of Park Central is having a very positive effect on all of the surrounding properties in Midtown Phoenix. One Lexington was completely renovated in 2007 and I am not talking about just carpet and paint. The entire building was taken back to the basic structure and all of its systems were updated at that time. This condo is currently occupied by the owner who uses it for their yoga studio. Please do not disturb In any given market cycle, properties in locations like this should outperform other locations.