536 Missouri Ave Phoenix, AZ 85013

This Phoenix, Arizona investment property, located at 536 W Missouri Ave, offers a unique blend of commercial and residential elements. Priced at $750,000, the property encompasses a substantial 28,845 square foot lot and features a 1,119 square foot building constructed in 1924. The building is currently configured as a combination of traditional office space and a parking garage, with a gross lease in place that commenced November 19, 1996, and expires November 19, 2027, leaving a remaining lease term of approximately two years. The property's zoning is diverse, reflecting a mix of commercial (1% C-3), residential (21% R-3), and other permitted uses (79% P-1). Situated within the Evans Addition to Orangewood subdivision in the Phoenix Union #210 High School District, this property benefits from its location in Phoenix market area 27/005. The existing parking lot lease provides immediate and consistent rental income, making this a turnkey investment opportunity. The property's assessed parcel number (APN) is 162-29-0004. This is a rare opportunity to acquire a well-located property with existing income and significant development potential in a thriving Arizona market. The property's Class C designation reflects its age and potential for future upgrades or repositioning.