We’re pleased to offer this exciting opportunity in the heart of the Midtown Phoenix business district. This is a rare industrial building located in a prime retail corridor, offering a multitude of options for either an owner-user or an investor. As mentioned, industrial space in this area is very limited, with only 10 comparable properties over 5,000 SF within a one-mile radius. The property consists of 4 suites, each offering a unique layout and intended use. Currently, there is a legacy tenant occupying 2 of the suites on a month-to-month lease. This leaves the door open for a user to occupy the remaining space or take over the entire property. Similarly, for an investor, this offers the opportunity to lease the property to a single tenant or divvy up the suites and diversify the income.
Over the last few months, the current owners have made many improvements to the property. These include repairing the exterior stucco, followed by new exterior paint, installing missing drywall, repairing and installing interior lighting, and smoothing out the concrete floor inside two of the suites. Given the legacy tenant’s tenure at the property, over 25 years, and the recently departed tenant, who was in their space for over 10 years, a new owner can come in, renovate the property and have it suit their business’s needs and have the opportunity to rent any unused space and offset some of the costs.
Broker of Record
David Harrington
License No. CO701910000 (AZ)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100,
Scottsdale, AZ 85251