2438 Mcdowell Rd Phoenix, AZ 85008
- Strip malls
- 14,996 SF
- 0.87 lot acres
Current Use by Public Records
- Premier Restaurant Supply and Service LLC / Commercial Refrigeration / Hospital Equipment And Supplies
Property Details for 2438 Mcdowell Rd
- Year built
- 1953
- Construction
- CONCRETE
- Lot size
- 0.87 lot acres
- Property size
- 14,996 SF
- Zone code
- C-2
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 120-39-031
- APU
- 12039031
Description
This exceptional investment opportunity presents a 4,100 square foot, partially remodeled adult entertainment club in Phoenix, Arizona's Arcadia area, near Scottsdale. Located on busy McDowell Road, this property benefits from high visibility and traffic, being less than a mile from two major highways and near a busy intersection. The building boasts 50 parking spaces and is grandfathered with C2 zoning. The significant advantage is its possession of a rare Series 6 liquor license (beer, wine, and liquor), one of only 27 in Arizona. The HVAC, bathrooms, and electrical systems are complete, with minimal finishing required (estimated $20,000-$50,000). A long-term lease is in place until December 30th, 2037, with a favorable rent of approximately $1 per square foot, subject to a 3% annual increase. The property offers potential for expansion into adjacent space. Seller financing is available for qualified buyers. Asking price: $800,000. This is a unique opportunity to acquire a well-situated, established business with significant growth potential in a high-demand market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,650,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,015,000
- 6.5%
- $1,725,000
- 7%
- $1,735,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,680,000
- Geo Method
- $1,950,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,130,000
- Retail
- $2,025,000
- Mixed-Use
- $1,855,000
- Hospitality
- $2,230,000
- Educational
- $1,745,000
- Residential Income
- $1,835,000
- Energy
- $2,055,000
- Income-Based Land
- $2,020,000
- Food Service
- $1,635,000
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.028
- Latitude
- 33.4662
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
