1040 Mcdowell Rd, Phoenix, AZ 85006-2622
- Medical Office Space
- 19,742 SF
- 2.84 lot acres
Current Use by Public Records
- Surgery Centers Of America Lp / Medical Clinic / Hospital
- JEROME KEITH MANSON / Physician / Medical Clinic
- Dr. Stephen W. Donohue, MD / Physician
Property Details for 1040 Mcdowell Rd
- Year built
- 1993
- Construction
- CONCRETE
- Lot size
- 2.84 lot acres
- Zone code
- P-1
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 117-25-178
- APU
- 11725178
Description
This exceptional Class A retail and restaurant property, totaling 5,600 square feet, presents a unique investment opportunity in the heart of Downtown Phoenix. Ideally situated directly across from the 755-bed Banner University Medical Center (formerly Banner Good Samaritan Medical Center), this location offers unparalleled access to a substantial and consistent customer base. The property, built in 1964 and extensively renovated in 2025, features three available suites, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 5,600 square feet. This allows for flexibility to accommodate a variety of restaurant concepts, from quick-service to full-service dining establishments. The building sits on a prominent corner lot at the intersection of McDowell Road and Dayton Street, providing excellent visibility and accessibility. To enhance parking and potentially allow for outdoor patio space, a neighboring smaller building will be removed as part of the adaptive reuse plan. This is a rare chance to establish a thriving business in a high-traffic area with a guaranteed flow of customers from the adjacent medical center and the surrounding vibrant Downtown Phoenix community. The single-story building offers convenient access for both customers and staff. This prime location, coupled with the recent renovations, ensures a modern and attractive space ready for immediate occupancy.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $7,789,000
- AI Estimate
- $7,646,000
Market price range: $3.11M - $7.79MMarket price range: $2.93M - $7.65M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $5,240,000 Current use
- RESTAURANT
- $10,545,000 Change: +101% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $8,340,000 Change: +59% Conversion: Difficult
- OFFICE BUILDING
- $5,925,000 Change: +13% Conversion: Easy
- WAREHOUSE, STORAGE
- $5,125,000 Change: -2% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $5,025,000 Change: -4% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.059
- Latitude
- 33.4665
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
