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9630 North 25th Avenue, Arizona,
Phoenix, AZ

Closed
$7,400,000

Overview

Bankruptcy Sale

9630 North 25th Avenue, Arizona,
Phoenix, AZ

Description

Northgate Real Estate Group is pleased to present the opportunity to purchase 9630 N 25th Avenue, a four-story, ±117k SF office building in bankruptcy.

Property Snapshot

Northgate Real Estate Group is pleased to present the opportunity to purchase 9630 N 25th Avenue, a four-story, ±117k SF office building in bankruptcy. The asset is located in the heart of Phoenix, Arizona and presents a unique opportunity to a wide range of investors and developers, particularly due to its vacant status. At well below replacement cost, the existing structure lends itself as a desirable value add investment opportunity.

Initial plans had entitlement processes underway to convert/redevelop the site for a new multifamily project. As is, the existing zoning of A-1 combined with record high demand for flex office and warehouse space in Phoenix creates potential for a new industrial development.

The property is situated within an Opportunity Zone in immediate proximity to the I-17 Freeway along the newly expanded Light Rail with multiple stops within walking distance of the subject site. The Light Rail provides access to the Metro-center Mall which is currently undergoing a full redevelopment, driving additional developments and demand to an area that has already seen an influx of new retailers.

  • Four-story, ±117k SF office complex situated on ±6.43 AC of land
  • Building is currently 100% vacant
  • Initial plans had entitlement processes underway to convert/redevelop the site for a new multifamily project
  • As is, the existing zoning of A-1 combined with record high demand for flex office and warehouse space in Phoenix creates potential for a new industrial development.
  • Close proximity to the newly constructed Valley Metro light rail expansion, the I-17 Freeway and Metro-center Mall redevelopment
  • With immediate proximity to the I-17, the subject property is within short drive to the entire Phoenix MSA including Phoenix Sky Harbor Airport, Downtown Phoenix, and the new TSMC facility being constructed in North Phoenix

Auction Details

Bid Deadline: April 15, 2024 at 5:00 P.M.

Auction Date: April 17, 2024 at 3:00 P.M.

Documents

3D Map

  • Tax Map

  • Zoning Map

Description

Northgate Real Estate Group is pleased to present the opportunity to purchase 9630 N 25th Avenue, a four-story, ±117k SF office building in bankruptcy.

Property Id : 47039

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