650 West Coolidge St Phoenix, AZ 85013

This 994-square-foot vacant retail property in Phoenix, Arizona, presents a compelling redevelopment opportunity. Situated on an 8,700-square-foot lot (approximately 0.2 acres) with C-3 zoning, it's ideally suited for a multifamily or retail project. The property enjoys a prime location in the Melrose District near the Biltmore area, benefiting from exceptional demographics, with average household incomes exceeding $104,005 and a population of 478,768 within a 5-mile radius. High traffic counts exceeding 130,000 vehicles per day (VPD) are ensured by its placement at the intersection of 7th Avenue and Coolidge Street, offering excellent visibility. Further enhancing its appeal is its proximity to major thoroughfares like Camelback Road (approximately 48,000 VPD) and Indian School Road (approximately 46,000 VPD). The property's location within a dense retail corridor, less than a mile from Uptown Plaza (anchored by AJ's Fine Foods, Chipotle, and a new Henry's Restaurant), adds significant value. The area also shows robust multifamily development activity, with over 13,000 units under construction within a 5-mile radius, including notable projects like Alloy Midtown Apartments (171 units), Aura Uptown (210 units), and the Central Park Project (a planned mixed-use development with over 1,400 units). The asking price is $499,999, translating to $503.02 per square foot.