Description
Commercial building on South Pacific Highway. Current tenant is Picker's Paradise with a one year lease, triple net, which equates to a 7.5% Cap Rate. Property is 1.76 acres and is zoned C-G so it's possible for commercial and/or apartment development. Apartments exist on the north side of property. The building is 11,008 square feet and in good condition.Property is priced well as an investment and with all of the new development in Phoenix the price also makes sense for commercial land at $12/sf and multifamily land @ $20,000/unit.
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0BEDS
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1.76ACRES
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0BATHS
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01/2 BATHS
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11,008SQFT
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$86$/SQFT
School Ratings & Info
Description
Commercial building on South Pacific Highway. Current tenant is Picker's Paradise with a one year lease, triple net, which equates to a 7.5% Cap Rate. Property is 1.76 acres and is zoned C-G so it's possible for commercial and/or apartment development. Apartments exist on the north side of property. The building is 11,008 square feet and in good condition.Property is priced well as an investment and with all of the new development in Phoenix the price also makes sense for commercial land at $12/sf and multifamily land @ $20,000/unit.
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