Infill Office Redevelopment
1405 N 1st Street Phoenix, AZ 85004
1405 N 1st Street, Phoenix, AZ, 85004
$3,330,000
For Sale
$3,330,000
Office improvements sit on four combined parcels near Downtown Phoenix, with zoning that supports redevelopment height.
Property Size7,450 SF
Lot Size0.64 Acres
Price / SF$446.98
Days on Market30
Property Features for 1405 N 1st Street
General Information
- Standard status
- Active
- Size
- 7,450 SF
- Lot size
- 0.64 Acres
Listing agency
R.O.I. Properties
(602) 319-1326
Listed by
Beth Jo Zeitzer · License #BR044331000
(602) 319-1326
Source
Exprealty
Added: Jun 23 Updated: Jul 22 at 12:10AM Checked: Jul 22 at 12:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of R.O.I. Properties
Investment Insights
Based on property information with market context.
1405 N 1st Street is an infill office redevelopment site featuring approximately 7,450 square feet of office improvements across four parcels (APNs 111-35-085, 111-35-086, 111-35-100, and 111-35-098). The total land area is approximately 0.64 acres, providing a defined footprint for future redevelopment planning while retaining existing improvements for evaluation.
The property is positioned just north of Downtown Phoenix near the intersection of 1st Street and McDowell Road, within the Downtown Phoenix Overlay District. Zoning is DTC-TWNPK, which allows up to 90 feet of building height and up to 125 dwelling units per acre, offering flexibility for redevelopment under current entitlements.
The offering’s combination of existing office improvements and multi-parcel structure may appeal to buyers looking to consolidate parcels and evaluate redevelopment options in a highly active urban growth corridor.
The property is positioned just north of Downtown Phoenix near the intersection of 1st Street and McDowell Road, within the Downtown Phoenix Overlay District. Zoning is DTC-TWNPK, which allows up to 90 feet of building height and up to 125 dwelling units per acre, offering flexibility for redevelopment under current entitlements.
The offering’s combination of existing office improvements and multi-parcel structure may appeal to buyers looking to consolidate parcels and evaluate redevelopment options in a highly active urban growth corridor.
Key Highlights
- Office improvements at 1405 N 1st Street positioned just north of Downtown Phoenix near 1st St and McDowell Rd
- Approximately 7,450 SF of office improvements across four parcels
- Total land area approximately 0.64 acres (four combined parcels)
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $228.9k | $30.72 |
| − Vacancy | −$58.8k | −$7.90 |
| EGI | $170.0k | $22.82 |
| − OpEx | −$42.5k | −$5.71 |
| NOI | $127.5k | $17.12 |
7,450 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.13M
NOI $127,534 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,967 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Office improvements sit on four combined parcels near Downtown Phoenix, with zoning that supports redevelopment height.
Where is this office building located?
The property is located at 1405 N 1st Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,330,000.
What are key features of this property?
This property features: Office improvements at 1405 N 1st Street positioned just north of Downtown Phoenix near 1st St and McDowell Rd; Approximately 7,450 SF of office improvements across four parcels; Total land area approximately 0.64 acres (four combined parcels)
