1543 Van Buren St Phoenix, AZ 85006
- Auto shops
- 4,000 SF
- 0.29 lot acres
Current Use by Public Records
- Phoenix Bathroom Remodeling / Bathroom Remodeler / General Contractor
Property Details for 1543 Van Buren St
- Year built
- 1951
- Construction
- CONCRETE
- Lot size
- 0.29 lot acres
- Property size
- 4,000 SF
- Zone code
- C-3
- Property type
- Auto shops
- APN
- 116-46-148
- APU
- 11646148
Description
This exceptional 5,000-square-foot retail property, situated on a prominent 0.55-acre corner lot at the southwest intersection of Van Buren and 16th Street in Phoenix, Arizona (85006), presents a compelling investment opportunity. Currently operating as a fully permitted collision center with a paint booth, this single-story, Class C building boasts 5,200 square feet of net rentable space and enjoys 100% occupancy. The property, built in 1971 and zoned C-3, offers significant potential for owner-users or investors. The asking price is $1,650,000, translating to $330 per square foot. The property generates a strong net operating income (NOI) of $144,000, resulting in a pro-forma cap rate of 8.73%. The high-traffic location sees approximately 42,000 vehicles daily (based on a 2022 MPSI estimate), and is within a half-mile radius of multiple multi-family and retail developments. The seller is open to various transaction structures, including an outright sale to an owner-user, a leaseback arrangement, and seller financing. The current lease generates $5,500 per month in net rent under a NNN lease. This is a rare opportunity to acquire a well-located, income-producing property in a rapidly developing area of Phoenix.
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
- -112.048
- Latitude
- 33.4511
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
