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
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