3820 3rd St Phoenix, AZ 85012-2022

This single-story, 9,435-square-foot office building in Phoenix, AZ, presents a compelling investment opportunity. Located at 3820 N. 3rd Street, this property boasts a desirable C-2 zoning designation from the City of Phoenix, allowing for a variety of uses. Built in 1975 and renovated in 2014, the building sits on a 0.96-acre lot (41,649 square feet) and offers ample parking with a 6:1,000 ratio (approximately 61 spaces). The asking price is $2,650,000, representing a price per square foot of $280. The property's current Net Operating Income (NOI) is $150,000, yielding a 5.66% capitalization rate. The building is currently vacant, with an occupancy date of October 4, 2024. The property is offered as a single-tenant, NNN lease with a 10-year lease term, although currently only one year remains. The land value alone is estimated at $6 per square foot. The Assessor's Parcel Number (APN) is 118-25-043B. This property is an excellent opportunity for investors seeking a strong return in a prime Phoenix location. The building features a flat roof and is ready for immediate occupancy or lease.