5001 E Washington St - Office FOR SALE


Phoenix, AZ 85034- East Side
$2,193,271 USD
602-538-7155
5001 E Washington St, Phoenix, AZ for Sale
$2,193,271 USD
Office - FOR SALE
1/7
null | 7% Cap Rate

5001 E Washington St
Phoenix, AZ 85034
East Side


HIGHLIGHTS

  • Historic property on the Phoenix Register of Historic Places
  • Building designed by William Pereira, known for Transamerica Pyramid in San Francisco and the Theme Building at LAX
  • Recent capital improvements: new HVAC, roof, and paint
  • Attractive 3% annual increases
  • Lack of vacancy in the trade area
  • Densely populated trade area with over 340,055 residents in a 5-mile radius

OVERVIEW

Cushman & Wakefield is pleased to present the opportunity to acquire a single-tenant office investment leased to Cuningham Group Architecture Inc., a globally recognized architecture and design firm celebrated for its sustainable, people-centered environments. Constructed in 1951 and listed on the Phoenix Register of Historic Places, this iconic property was designed by renowned architect William Pereira, famous for landmarks such as the Transamerica Pyramid in San Francisco. The building has undergone recent capital improvements, including new HVAC, roof recoat, parking lot sealcoat, and exterior paint, ensuring long-term functionality and appeal. The lease features a Modified Gross structure with 3% annual rent increases, offering investors predictable income growth. With approximately 3 years remaining on the primary term and one five-year renewal option, this investment provides stability backed by a proven tenant with a strong global presence. Founded in 1968, Cuningham Group operates six offices worldwide—including Phoenix, Los Angeles, Denver, Las Vegas, Minneapolis, and Doha—and is recognized for its award-winning portfolio spanning education, healthcare, hospitality, and mixed-use developments. The firm integrates research-driven design and environmental stewardship, consistently advancing high-performance building practices through LEED, WELL, and Living Building Challenge standards. For more information, visit www.cuningham.com. Strategically located at 5001 E Washington Street, the property sits in a densely populated trade area with over 340,000 residents within a five-mile radius and average household incomes exceeding $111,000. The site offers excellent connectivity via Loop 202, SR-143, and I-10, and is minutes from Sky Harbor International Airport, Arizona State University, and downtown Phoenix. The surrounding area is experiencing significant growth, with multiple multifamily developments and strong daytime population counts exceeding 494,000 within five miles. This offering represents a rare opportunity to acquire a historic, well-maintained office property leased to a premier global architecture firm in one of Phoenix’s most dynamic corridors.

FOR SALE DETAILS

PRICE

$2,193,271 USD

PRICE/SF

$355 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cuningham

PROPERTY TYPE

Office

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1953

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

60,113 SF

ZONING

A-1

APN/PARCEL ID

124-11-048

ASK ABOUT THIS PROPERTY

Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

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Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.