Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3110 N Central Ave Phoenix, AZ 85012

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $32 SF/Yr

    Newly renovated mixed-use space in Midtown Phoenix with dining options.

    Building Details

    Year built
    2019

    We can help!

    Listing Contact
    Andrew Cheney, Ccim, Cre, Sior
    Source: Lee-associates

    Listing Agent: Andrew Cheney, Ccim, Cre, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Midtown Space for Lease

    The newly renovated Park Central offers a variety of spaces suitable for office, retail, and restaurant use. Located in the heart of Midtown, the property features nine on-site restaurants with plans for additional dining options. Ample outdoor community space, newly renovated walking areas, and bike paths enhance the tenant experience. A pedestrian connection to Central Avenue provides convenient access. The property offers 66 square feet of space and is located at 3110 N Central Ave, Phoenix, AZ 85012. The location integrates office, retail, community, and art.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    First Watch Restaurant Fired Pie Restaurant Thai Basil Restaurant Zipps Sports Grill Restaurant Jimmy John's Take-out & Catering

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Law Firm Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.0764282
    Latitude
    33.4844882

    Nearby Similar for Lease

    • Contact for pricing

      AZ, Phoenix - Pinnacle Peak

      Workspaces, services and support to help you work better in UT, Clearfield - 1412 Legend Hills Dr
      1904 Parkside Ln, Phoenix, AZ 85027
      View Details
    • New
      Contact for pricing

      Spaces One Renaissance Tower

      Workspaces, services and support to help you grow your business in Spaces One Renaissance Tower
      2 Central Ave, Phoenix, AZ 85004
      View Details
    • Sponsored
      Contact for pricing

      AZ, Phoenix - Clarendon

      Workspaces, services and support to help you work better in CA, Campbell - Orchards City Dr
      300 Clarendon Ave, Phoenix, AZ 85013
      View Details
    • Contact for pricing

      AZ, Phoenix – Block 23

      Find fully flexible work and meeting space in CA, Long Beach - 145 W Broadway
      101 Washington St, Phoenix, AZ 85004
      View Details
    • Contact for pricing

      AZ, Phoenix- N 12th St

      Workspaces, services and support to help you work better in MD, Beltsville - Powder Mill Rd
      4641 12Th St, Phoenix, AZ 85014
      View Details
    • Contact for pricing

      AZ, Phoenix - 3rd St

      Discover many ways to work your way in AZ, Phoenix - 3rd St
      2025 3Rd St, Phoenix, AZ 85004
      View Details
    • Contact for pricing

      AZ, Phoenix - E Camelback Rd

      Discover many ways to work your way in AZ, Phoenix - E Camelback Rd
      2701 Camelback Rd, Phoenix, AZ 85016
      View Details
    • Contact for pricing

      AZ, Phoenix- S 16th St

      Discover many ways to work your way in AZ, Phoenix- S 16th St
      6044 16Th St, Phoenix, AZ 85042
      View Details
    • Contact for pricing

      AZ, Phoenix - N 7th St

      Discover many ways to work your way in AZ, Phoenix - N 7th St
      19820 7Th St, Phoenix, AZ 85024
      View Details
    • New
      Contact for pricing

      Desert Ridge Corporate

      Discover many ways to work your way in Desert Ridge Corporate
      20860 Tatum Blvd, Phoenix, AZ 85050
      View Details
    • New
      Contact for pricing

      Union Hills Office Plaza

      Discover many ways to work your way in Union Hills Office Plaza
      2550 Union Hills Dr, Phoenix, AZ 85027
      View Details
    • New
      Contact for pricing

      Washington at Sky Harbor

      Discover many ways to work your way in Washington at Sky Harbor
      4600 Washington St, Phoenix, AZ 85034
      View Details

    FAQs

    What type of property is this?
    Office units - Newly renovated mixed-use space in Midtown Phoenix with dining options.
    Where is this office units located?
    The property is located at 3110 N Central Ave Phoenix, AZ.
    What is the lease rate?
    The lease rate is $32 SF/Yr.
    What are key features of this property?
    This property features: - Located in the heart of Midtown.; - Nine on-site restaurants with more planned.; - Ample outdoor community space.
    (602) 488-4000
    Request Owner's contact information
    3110 N Central Ave Phoenix, AZ 85012
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3110 N Central Ave
    Phoenix, AZ 85012
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3110 N Central Ave Phoenix, AZ 85012
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Andrew Cheney, Ccim, Cre, Sior
    (602) 488-4000 (602) 954-3769
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!