3601 Mcdowell Rd Phoenix, AZ 85009-2213
- Bars
- 1,710 SF
- 1.10 lot acres
Current Use by Public Records
- Car wash los plebes / Car Wash
- Hatch Auto Windshield Replacement / Auto Glass Shop
- Phoenix Local Garage Doors Repair / Garage Door Supplier
- Tacos El Pillo / Mexican Restaurant / Taco Restaurant
- East Valley Locksmith Phoenix / Locksmith / Emergency Locksmith Service
Property Details for 3601 Mcdowell Rd
- Year built
- 1952
- Construction
- CONCRETE
- Lot size
- 1.10 lot acres
- Property size
- 1,710 SF
- Zone code
- C-3
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 106-07-119E
- APU
- 10607119E
Description
This exceptional 1.1-acre commercial property in Phoenix, Arizona, presents a compelling redevelopment opportunity. Located at 3601 W McDowell Rd, this site boasts a prime location with over 25,000 vehicles per day passing by. Currently zoned C3 - General Commercial, the property offers remarkable flexibility for a variety of uses, including QSR/fast food, car wash, self-storage, manufacturing, and even multi-family residential, subject to permitting. The existing improvements comprise approximately 1,904 square feet, including a used car dealership and a car wash, currently leased under two separate, coterminous net-net leases expiring March 2029. These leases provide a stable income stream of $2,200 per month until expiration, offering a potential return while redevelopment plans are pursued. The property features 100 parking spaces and has a current FAR of 0.04, with potential for increased density to 0.5 depending on the proposed use. The asking price is $1,000,000, representing a price per square foot of $525.21 and a 2.64% cap rate based on a net operating income of $26,400. The property's strategic location within a densely populated area (394,000 residents within a 5-mile radius, average household income exceeding $80,000) and its high traffic count make it an ideal investment for discerning developers seeking a high-return project. The existing leases have a right of first refusal, but the current tenant was unable to meet the asking price and there are no renewal options. The year built is 1952. This is a truly unique opportunity to capitalize on a high-traffic location and flexible zoning in a rapidly growing market.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,145,000
- AI Estimate
- $1,071,000
Market price range: $444k - $1.42MMarket price range: $375k - $1.36M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $915,000 Current use
- OFFICE BUILDING
- $1,810,000 Change: +98% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,125,000 Change: +23% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.138
- Latitude
- 33.4656
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
