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601 N 2Nd Ave Phoenix, AZ 85003

Commercial land Google Maps
3,668 SF 0.16 ac lot Built 1920
Individually Owned 32-yr Hold Free & Clear
Estimated value (blended)
$1.41M
Range $1.26M – $1.55M (±10%)
Property ID US07-0924918

Property summary

AI-generated overview

This exceptional 0.16-acre commercial land parcel presents a unique investment opportunity in Phoenix's vibrant Central Corridor. Located at 601 N 2nd Ave, this single-tenant site boasts a highly desirable location, zoned [DTC-E-ROO] Downtown Code - Roosevelt East within Maricopa County. Its strategic corner location offers maximum visibility and accessibility. The property is situated adjacent to numerous recently constructed multi-family residential buildings, ensuring a strong and growing surrounding population. Furthermore, its proximity to the Arizona State University Downtown Phoenix campus creates a high-density student population, providing a substantial potential customer base for various commercial ventures. A Circle K gas station is also immediately adjacent, adding to the area's established commercial activity. The convenience of the light rail system, less than 200 feet away, provides excellent public transportation access. This vacant lot offers developers and investors a rare chance to capitalize on the significant growth and development occurring in this dynamic area of Phoenix, Arizona, zip code 85003. The property's size and location make it ideal for a variety of commercial uses, subject to zoning approvals. This is a truly exceptional opportunity to secure a prime piece of real estate in a rapidly expanding urban center.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Year built 1920
Total area 3,668 SF
Lot 0.16 ac (7,000 SF)
Zoning code C-DT
APN 111-40-012
UPID US07-0924918

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.54M
Blend (final) Blend
$1.41M

Owner & transaction history

since 1993
2 recorded transactions
1993
$12,000
1988
$200,000

Zoning & alternative use

C-DT · Phoenix, AZ

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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