302 Southern Ave Phoenix, AZ 85040-3044

This exceptional Phoenix office building, located at the NE corner of 3rd St. and Southern Ave (302 E. Southern Ave, 85040), presents a unique investment opportunity. The 2,225 square foot building sits on a .519-acre lot (22,586 sq ft) and is currently vacant, available for immediate occupancy starting August 26, 2024. Built in 1906, the property has undergone a complete renovation, boasting modern features including a new roof, exterior paint, and a rolling security fence. The interior features ceramic tile flooring, 8'+ ceilings, newer dual-pane windows, and updated Trane HVAC systems. The main building includes four spacious offices, a reception area with a gas fireplace, and a modern ADA-compliant bathroom with a shower. A fully equipped kitchen features a five-burner gas stovetop, built-in microwave, ample cabinetry, and quartz countertops. A secondary building offers two additional large offices, a smaller but similarly equipped kitchen, and another ADA-compliant bathroom with a shower. The property also includes 10 uncovered parking spaces, ADA ramps, dual street access, motion sensor lights, a comprehensive alarm and video security system, and additional storage space. Zoned C-1, this versatile property is ideal for various businesses. The asking price is $1,250,000, representing a price per square foot of $561.80 and a land value of $55.34/SF. The property offers a 5.00% cap rate.