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Off Market
1/12

4801 E McDowell Rd
Phoenix, AZ 85008


HIGHLIGHTS

  • Ideal condos for engaging in a triple net (NNN) investment or owner/user opportunity, available in an attractive multi-tenant medical office building.
  • In proximity to common transit modes like Loop 202 101, Interstate 10 and 17, the 143 and 51 Freeways, and Phoenix Sky Harbor Airport.
  • Forty Eight 01 has a midcentury modern style and $1.5 million renovations, including a new roof, HVAC, and tenant improvements.
  • Build synergy with the nearby medical professionals at Arizona Specialty Hospital, Valleywise Health Medical Center, and Arizona State Hospital.
  • Building features include prominent monument signage, covered and uncovered parking, and floor plates catering to small businesses.

OVERVIEW

Forty Eight 01 at 4801 E McDowell Road is a two-story multi-tenant medical/office condominium totaling 21,884 square feet. Floor plates at this address have an average size of 3,126 square feet. The condo layouts are ideally configured for small tenant occupancy, increasing income security with limited configuration options and lowering tenant improvement costs. With an extensive $1.5 million renovation completed in 2023, this building includes new tenant improvements, HVAC, roof, and parking lot reseal and stripe. The superb Forty Eight 01 showcases timeless mid-century modern architectural style with unique glass lines/windows, extensive steel walkways, trusses, and metal accents, all accompanied by modern landscaping. Tenants have access to prominent signage and visibility at the intersection of 48th Street and the highly trafficked McDowell Road, a major city thoroughfare. Located at the convergence of the Valley's three-price office destinations of Camelback Corridor, Downtown Tempe, and Old Towne Scottsdale, Forty Eight 01 is at a prime location to start or continue a business. This transit-oriented location has access to seven different freeways within a 10-minute drive of the property and near immediate airport access via State Route 143. Six hospitals are located within 6 miles of the property, truly adhering to the hub-and-spoke model, in which healthcare providers offer their services in easily accessible facilities located among the population pool and within a short distance of multiple hospitals.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

Forty Eight 01

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

21884

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

LAND ACRES

1.03 AC AC

LAND SF

44,867 SF

ZONING

-

APN/PARCEL ID

125-13-040D