2402 Central Ave Phoenix, AZ 85004
- Warehouses
- 21,598 SF
Current Use by Public Records
- Economy auto service llc / Auto Repair Shop
Property Details for 2402 Central Ave
- Year built
- 1983
- Property size
- 21,598 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This Phoenix industrial property at 2402 S Central Ave offers a compelling investment opportunity. The 21,598 square foot building, situated on a 68,390 square foot lot, is currently 100% occupied by two tenants under a gross lease agreement, expiring April 30, 2030. Built in 1983 and extensively renovated in 2021, the property features a single-story structure with C-3 zoning. The asking price is $4,100,000, translating to $188.93 per square foot. Recent improvements include new asphalt, paint, roof recoating, and tenant improvements. The property benefits from its strategic location near the new Light Rail, I-17, US 60, and I-10, offering excellent accessibility. The property is potentially divisible into 6-8 bays, providing flexibility for future use. Rent bumps are included in the lease agreements. This stabilized investment presents a strong return with long-term leases in place. The property is zoned C-3 and has a Maricopa County APN of 112-46-009B. Tenant 1 occupies approximately 12,324 square feet, and Tenant 2 occupies approximately 9,274 square feet. The property includes a shared fenced and secured yard.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.075
- Latitude
- 33.4251
