16848 Palisades Blvd, Fountain Hills, AZ 85268-3845
- Medical Office Space
- 7,567 SF
- 1.98 lot acres
Current Use by Public Records
- Medical Office Space
Property Details for 16848 Palisades Blvd
- Year built
- 1996
- Construction
- STEEL FRAME
- Lot size
- 1.98 lot acres
- Zone code
- C-2
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 176-06-954
- APU
- 17606954
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 26, 2023 | $1,400,000 | Craig Mansfield | Mayo Clinic Arizona | Special Warranty Deed | — |
| Sep 23, 2005 | $270,000 | Luigi Derose JR. | Mooers,peter F | Warranty Deed | — |
| Dec 30, 1996 | — | Clinic Arizona Mayo | Mayo Medical Education & | Quit Claim Deed · related | — |
| Dec 19, 1995 | $327,896 | Mayo Foundation For Medical Educ | Mco Properties L P | Grant Deed | — |
| — | — | Derose,luigi JR | — | Deed Of Trust · related | $417k · Countrywide Bk |
| — | — | Luigi Derose JR. | — | Deed Of Trust · related | $528k · Countrywide Bank |
| — | — | Luigi Derosa JR. | — | Deed Of Trust · related | $709k · M & I Marshall & Isley Bank |
Description
This 7,213 square foot medical office building sits on a 1.98-acre lot in Fountain Hills, Arizona, and is currently vacant. Built in 1996, the single-story building is zoned C-2, allowing for a multitude of uses. The property boasts excellent access with ingress/egress from the south, west, and east. The well-maintained building and land offer significant potential. Allowable building area could expand to approximately 42,750 square feet, with a height of up to 60 feet. The property benefits from its location near significant developments, including the approved 316-unit multifamily redevelopment at Village at Four Peaks, the 1,230-unit mixed-use Park Place at Fountain Hills project (with two additional phases approved), and the recently-commenced $25 million International Dark Sky Discovery Center (approximately 23,000 square feet). The area also features a high average household income of $123,766 within a 5-mile radius and proximity to national retailers such as Basha's, Safeway, Ace Hardware, Fountain Hills Medical Campus, and Dutch Bros. The asking price is $1,900,000, or $263 per square foot. The property's address is 16848 E Palisades Blvd, Fountain Hills, AZ 85268.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,750,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,785,000
- 6.5%
- $1,645,000
- 7%
- $1,530,000
-
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,925,000 Current use
- RETAIL STORES
- $2,545,000 Change: +32% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $2,390,000 Change: +24% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $1,735,000 Change: -10% Conversion: Difficult
- WAREHOUSE, STORAGE
- $1,550,000 Change: -20% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Fountain Hills
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.716
- Latitude
- 33.6077
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
