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Adaptable Building in Commerce Park

15601 N 28th Ave, Phoenix, AZ 85053

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For Sale

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40,666 SF building suitable for multiple uses.

Type:Industrial

Property size:

40,620 SF

Lot size:

3.85 Acres

Price / SF:

$307/SF

HighLights

40,066 SF building on 3.85 AC parcel.
Excellent freeway access and visibility.
General Commerce Park zoning allows for up to 50% lot coverage (buyer to verify).
Suitable for medical office, office, research & development, or climate controlled advanced manufacturing.
Low lot coverage.
Excess land presents redevelopment opportunities.

We can help!

Listing Contact

Beth Jo Zeitzer

For Sale

Contact for pricing

40,666 SF building suitable for multiple uses.

Type:Industrial

Property size:

40,620 SF

Lot size:

3.85 Acres

Price / SF:

$307/SF

Added:: May 23, 2024
Days on Market:: 761
Last Refresh:: May 12 at 9:33 pm

Property Features for 15601 N 28th Ave

General Information

Standard status: Active
Size: 40,620 SF
Lot size: 3.85 Acres
Property subtype: Industrial

We can help!

Listing Contact

Beth Jo Zeitzer

Listing agent Beth Jo Zeitzer License #AZ BR044331000

Listing office R.O.I. Properties

Listing date May 23, 2024

Source Crexi

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

HighLights

40,066 SF building on 3.85 AC parcel.
Excellent freeway access and visibility.
General Commerce Park zoning allows for up to 50% lot coverage (buyer to verify).
Suitable for medical office, office, research & development, or climate controlled advanced manufacturing.
Low lot coverage.
Excess land presents redevelopment opportunities.

Overview

This property features a 40,066 square foot building situated on a 3.85-acre parcel within the General Commerce Park. The location offers excellent freeway access and visibility. Currently, the building coverage ratio is approximately 16.24%, with the potential to increase up to 50% under General Commerce Park zoning, subject to buyer verification. The existing improvements are designed for medical office use but can be retrofitted for office, research and development, or potentially climate-controlled advanced manufacturing. The property's low lot coverage, commerce park zoning, and excess land provide opportunities for redevelopers and end users.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.25M	$30.72
− Vacancy	−$320.7k	−$7.90
EGI	$927.1k	$22.82
− OpEx	−$231.8k	−$5.71
NOI	$695.4k	$17.12

40,620 SF · lease $30.72/SF/yr · vacancy 25.70% · expense 25.00%

Alternative Uses

Best Use

Office B

$9.93M

$8.69M – $11.59M (±1% cap)

NOI $695,362 @ 7.0% cap · market cap 5.56%

Second Best

Healthcare Medical

$8.27M

$7.24M – $9.65M (±1% cap)

NOI $579,079 @ 7.0% cap · market cap 4.63%

Theoretical Best

Office A

$12.30M

$10.77M – $14.35M (±1% cap)

NOI $861,290 @ 7.0% cap · market cap 6.89%

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

Property Profile Location Intelligence

Current Use by Public Records

Ashton & Sons Electricians ... Electrical Service Jordan Sisto, DPM Physician Mark Pipher, DPM, ... Physician Desert Foot & Ankle Medical Clinic Scott Maling, DPM, ... Physician

Suggested Use

Similar Places Nearby

DIABETIC APOTHECARY — 15640 N 28th Dr SUITE PHARMACY, Phoenix, AZ 85053

Location Insight

Map
Local Demand

City: Phoenix
County: Maricopa
State: Arizona
Longitude: -112.1175452
Latitude: 33.6277983

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For sale
Medical Office Space
AZ
Phoenix
85053
15601 N 28th Ave

What type of property is this?

Medical Office Space - 40,666 SF building suitable for multiple uses.

Where is this medical office space located?

The property is located at 15601 N 28th Ave Phoenix, AZ.

What is the asking price?

The asking price for this property is $12,500,000.

What are key features of this property?

This property features: 40,066 SF building on 3.85 AC parcel.; Excellent freeway access and visibility.; General Commerce Park zoning allows for up to 50% lot coverage (buyer to verify).