3550 N Central Avenue, Phoenix, AZ 85012

$5,100,000

Property Type: Comm/Industry Sale Square Footage: 284,709 Lot Size (sq. ft.): 192,305 Status: Closed

Current Price: $5,100,000 List Date: 10/04/2021 Last Modified: 3/24/2025

Description

Rare opportunity to acquire a ground lease in the heart of mid-town Phoenix. With 140 years remaining, here is your chance to acquire a passive income investment. Improvements not included in the sale comprise a 20-story office building with 284,709 rentable square feet and a three-level parking structure. 3550 N Central Avenue is located 2 miles North of Downtown Phoenix in the vibrant mid-town neighborhood. And located just a block north of the redeveloping Park Central mixed-use project, this opportunity is hard to pass on.

More Information MLS# 6282464

Contract Info

Ownership: Leasehold Current Price: $5,100,000 Sold Price: $5,100,000 Status: Closed List Date: 2021-08-20

Location, Tax & Legal

Assessor's Map #: 32 Legal Description (Abbrev): LOT 10 LANE SUB MCR 3/21 EX W 393.93F & EX COM AT INT OF CENTRAL AVE & COLUMBUS AVE(EAST) TH S 16.14 Assessor's Parcel #: 28 Assessor Parcel Ltr: A Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 110501 Taxes: 248937 Legal: LOT 10 LANE SUB MCR 3/21 EX W 393.93F & EX COM AT INT OF CENTRAL AVE & COLUMBUS AVE(EAST) TH S 16.14 Map Code/Grid: P34 House Number: 3550 Compass: N Street Name: Central St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85012 County Code: Maricopa Subdivision: LANE SUB Assessor Number: 118-32-028-A Tax Year: 2020

General Property Description

Ttl Apx SqFt Bldg: 284709 # of Buildings: 1 Uncvrd Parking Spcs: 0 Year Built: 1958 Zoning: PUD

Legal Info

Range: 3E Section: 29 Township: 2N Lot Number: 10

Construction

Other: 1

Roofing

Other: 1

Floors

Other: 1

Income & Expenses

Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 248937 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0

Building Type

Commercial: 1 Office: 1

Business Type

Other: 1

Stories

11+ Stories: 1

Pmt & Rate Info

Equity: 4900000 Total Owed: 0

Showing Notification Methods

Text: 1 Email: 1 Phone Call: 1

Lockbox Type

None: 1

Ceiling Height

8.1 Feet to 10 Feet: 1

Heating

Other: 1

Cooling

Central Air: 1 Other: 1

Interior Features

Other (See Remarks): 1

Loading Facilities

Other (See Remarks): 1

Road Surface Type

Asphalt: 1

Exterior

Building Sign: 1 Sidewalk(s): 1

Source of Fincl Data

Other (See Remarks): 1

Fencing

Other: 1

Water Source

City Franchise: 1

Freeway/Highway

2.1 - 5 Miles: 1

Sewer

Sewer - Public: 1

Parking Features

Other: 1

Electric

Other (See Remarks): 1

Gas

Other (See Remarks): 1

New Financing

Other (See Remarks): 1

Special

Court Approval Required: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Sold Info

Loan Type: Other Payment Type: Other Clsing Cost Split: Normal - N Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $

Remarks Misc

Cross Street: N Central Ave. & W Osborn Rd. Geo Lat: 33.489455 Geo Lon: -112.074587

Status Change Info

Off Market Date: 2021-12-10 Under Contract Date: 2021-10-07 Close of Escrow Date: 2022-01-06 Sold Price: $5,100,000

Property Features

Building Type: Commercial; Office Business Type: Other Stories: 11+ Stories Construction: Other Roofing: Other Floors: Other Ceiling Height: 8.1 Feet to 10 Feet Heating: Other Cooling: Central Air; Other Loading Facilities: Other (See Remarks) Interior Features: Other (See Remarks) Exterior: Building Sign; Sidewalk(s) Fencing: Other Parking Features: Other Electric: Other (See Remarks) Gas: Other (See Remarks) Water Source: City Franchise Sewer: Sewer - Public New Financing: Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Special: Court Approval Required Source of Fincl Data: Other (See Remarks) Road Surface Type: Asphalt Environmental: None

Listing Office: R.O.I. Properties

Last Updated: March - 24 - 2025