215 Grant St Phoenix, AZ 85004-2630
- Industrial properties
- 24,816 SF
- 1.76 lot acres
Current Use by Public Records
- Warehouse215 / Event Venue / Banquet Hall
Property Details for 215 Grant St
- Year built
- 1940
- Construction
- CONCRETE
- Lot size
- 1.76 lot acres
- Property size
- 24,816 SF
- Zone code
- C-DT
- Property type
- Industrial properties
- Property subtype
- Industrial live-work properties
- APN
- 112-26-093A
- APU
- 11226093A
Description
This exceptional Phoenix property offers a rare opportunity to acquire a 3.17-acre assemblage in the burgeoning Warehouse District. The site encompasses three contiguous parcels totaling 138,184 square feet, including two existing buildings: a 27,572 square-foot historic brick warehouse and a 4,800 square-foot structure. The property boasts 32,372 square feet of existing building space, with significant potential for redevelopment. The DTC-WARE zoning permits unlimited density and a variety of uses, including multifamily, hospitality, commercial, and retail, with a height allowance of 80 feet (120 feet allowed with a conservation easement). Two existing tenants, Warehouse 215 and M-Culinary, provide a covered land play potential with existing income streams. The assemblage is strategically located within walking distance of the Footprint Center, Chase Field, the Phoenix Convention Center, and the city's core business and government districts. Its proximity to public transportation, including a future light rail stop, further enhances its appeal. Recent renovations and capital improvements totaling approximately $2 million have been completed. The property's location within a Qualified Opportunity Zone offers substantial tax advantages for investors. Multiple yield studies indicate multifamily development potential ranging from 200 to 500+ units. This is a unique opportunity to capitalize on the explosive growth of Downtown Phoenix. The asking price is $19,500,000. APN: 112-26-164, 112-26-165, 112-26-166A.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $660,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $615,000
- 6.5%
- $715,000
- 7%
- $650,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $645,000
- Geo Method
- $635,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $590,000
- Retail
- $615,000
- Mixed-Use
- $655,000
- Hospitality
- $605,000
- Educational
- $760,000
- Residential Income
- $645,000
- Energy
- $710,000
- Income-Based Land
- $580,000
- Food Service
- $745,000
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.071
- Latitude
- 33.4407
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
