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Property profile & analytics
OFF-MARKET Estimated value $1,465,000
Retail space

723 Grand Ave Phoenix, AZ 85007-2509

12,615 SF 0.14 ac lot Built 1925
Entity Owned 8-yr Hold ~ Est. High Equity
Property ID
US07-1055622
Property summary
AI-generated overview

This exceptional Downtown Phoenix property, located at 723-747 Grand Avenue, offers 41,500 square feet of versatile commercial space. The two-building complex, boasting a Class A designation, features a blend of coworking, creative office, flex, warehouse, and distribution spaces, making it suitable for a variety of businesses. Built in 1917 and extensively renovated in 2013, the property showcases a unique blend of historical charm and modern functionality. The buildings offer 13-foot ceilings, three drive-in doors, and one elevator across two stories. With a minimum divisible space of 6,250 square feet and a maximum contiguous space of 12,500 square feet, the property is adaptable to various business needs. Currently, 12,500 square feet is vacant. The property sits on a 41,875 square foot lot with 352 feet of frontage and is zoned C-3. The property includes ample parking, a secured yard, and built-out offices. Its prime location in the Downtown Phoenix submarket of Maricopa County, Arizona (zip code 85007), provides excellent access to transportation and amenities. The property's APN is 111-30-095, 111-30-094, 111-30-093A, 111-30-092C, 111-30-092B, 111-30-092A, 111-30-091.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1925
Construction CONCRETE
Total area 12,615 SF
Lot 0.14 ac (6,250 SF)
Zoning code C-3
APN 111-30-091
UPID US07-1055622
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap 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
$1.48M
Blend (final) Blend
$1.47M
Owner & transaction history
Retail Realty Fund · 8 yrs held
Retail Realty Fund
since 2018
7 recorded transactions
2018
$8.7M
2017
Price N/A
2016
Price N/A
2016
Price N/A
2011
$690,000
1997
Price N/A
1969
Price N/A
Zoning & alternative use
C-3 · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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