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
Overview
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.
Listing Details MLS# 6282464
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Leasehold
General Property Description
- Ttl Apx SqFt Bldg
- 284709
- # of Buildings
- Yes
- Year Built
- 1958
- Zoning
- PUD
- Uncvrd Parking Spcs
- 0
Remarks Misc
- Cross Street
- N Central Ave. & W Osborn Rd.
Status Change Info
- Off Market Date
- 2021-12-10
- Under Contract Date
- 2021-10-07
- Close of Escrow Date
- 2022-01-06
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 29
- Lot Number
- 10
More Information
Sold Info
- Loan Type
- Other
- Payment Type
- Other
- Clsing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Construction
- Other
- Yes
Roofing
- Other
- Yes
Floors
- Other
- Yes
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
- Yes
- Office
- Yes
Business Type
- Other
- Yes
Stories
- 11+ Stories
- Yes
Pmt & Rate Info
- Equity
- 4900000
- Total Owed
- 0
Showing Notification Methods
- Text
- Yes
- Yes
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Ceiling Height
- 8.1 Feet to 10 Feet
- Yes
Heating
- Other
- Yes
Cooling
- Central Air
- Yes
- Other
- Yes
Interior Features
- Other (See Remarks)
- Yes
Loading Facilities
- Other (See Remarks)
- Yes
Road Surface Type
- Asphalt
- Yes
Exterior
- Building Sign
- Yes
- Sidewalk(s)
- Yes
Source of Fincl Data
- Other (See Remarks)
- Yes
Fencing
- Other
- Yes
Water Source
- City Franchise
- Yes
Freeway/Highway
- 2.1 - 5 Miles
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Other
- Yes
Electric
- Other (See Remarks)
- Yes
Gas
- Other (See Remarks)
- Yes
New Financing
- Other (See Remarks)
- Yes
Special
- Court Approval Required
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
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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