1427 N 3rd St. Phoenix, AZ 85004

Located in the Townsend Park district of Downtown Phoenix, 1427 N 3rd Street is an urban infill asset adjacent to the Midtown corridor. The property's DTC-Townsend Park zoning allows for higher-density residential, mixed-use, office, and adaptive reuse concepts, subject to City of Phoenix development standards and approvals. The location provides connectivity to Interstate 10, State Route 51, and Interstate 17, with access throughout the Phoenix metro area, including Sky Harbor International Airport, Tempe, Scottsdale, and the Northwest Valley. The site also benefits from proximity to the Valley Metro Light Rail system. The surrounding area is near office, medical, educational, and governmental users, including the Phoenix Biomedical Campus, Banner – University Medical Center Phoenix, and Roosevelt Row. The location within Downtown Phoenix zoning, combined with its proximity to Midtown amenities, creates an opportunity for owner-users, investors, or redevelopment-focused buyers seeking a central urban Phoenix location. The property offers a blend of existing cash flow and long-term redevelopment potential. Flexible lease termination structures create optionality for an owner-user, investor, or developer seeking to reposition the asset while maintaining interim income. The property allows for increased urban intensity, pedestrian-oriented development, and a variety of building typologies. The asset offers a chance to capitalize on the densification and investment momentum occurring throughout the Downtown Phoenix market.