Downtown Phoenix Redevelopment
1427 N 3rd St., Phoenix, AZ 85004
New
Urban infill asset with redevelopment potential in Downtown Phoenix.
Type:Multi Tenant Office
- Added:
- May 21, 2026
- Days on Market:
- 6
- Last Refresh:
- May 21 at 12:49 am
Property Features for 1427 N 3rd St.
General Information
- Standard status
- Active
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 1974
Listing agent Richard Lewis License #AZ #SA674245000 (480) 425-5536
Listing office SVN | Desert Commercial Advisors (480) 425-5536
Listing date May 21, 2026
Source Thebrokerlist
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HighLights
- Strategic location in Downtown Phoenix, adjacent to the Midtown corridor.
- DTC‑Townsend Park zoning allows for diverse redevelopment options.
- Flexible lease termination provides operational flexibility.
- Existing improvements offer interim income.
- Excellent connectivity to major freeways and the Valley Metro Light Rail.
- Proximity to major demand drivers.
Overview
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.
Location Intelligence
Current Use by Public Records
Dr. Edward Bodin
Dental Office
SINGULARBOLD.
Marketing & Advertising
JAG Development
Construction Company
Eudora Beauty by ...
Spa & Massage Center
Eudora Beauty by ...
Hair Salon
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.0687822
- Latitude
- 33.464984
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FAQs
What type of property is this?
Commercial land - Urban infill asset with redevelopment potential in Downtown Phoenix.
Where is this commercial land located?
The property is located at 1427 N 3rd St. Phoenix, AZ.
What is the asking price?
The asking price for this property is $2,944,000.
What are key features of this property?
This property features: Strategic location in Downtown Phoenix, adjacent to the Midtown corridor.; DTC‑Townsend Park zoning allows for diverse redevelopment options.; Flexible lease termination provides operational flexibility.
