2402 Central Ave Phoenix, AZ 85004

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.