507 E Broadway Road, Phoenix, AZ 85040
- $875,000
- 1,824
- SqFt
- List Price
- $875,000
- Status
- ACTIVE
- Price Change
- ▼ $75,000 1789097448
- Days on Market
- 184
- MLS#
- 6996798
- City
- Phoenix
- Living SQFT
- 1,824
- Lot Size
- 13,650
- Acres
- 0.31
- Year Built
- 2000
Property Description
Prime Investment with Rare C-3 Zoning. Excellent opportunity to acquire a high-visibility commercial property generating strong income with a 6% cap rate. The 1,814 SF building is leased to an established auto repair tenant at $5,500/month, providing stable cash flow. Property has been recently remodeled and features a new roof, minimizing near-term capital expenses. Includes three exterior service bays with two lifts and ample parking. Located in a busy corridor with highly desirable and hard-to-find C-3 zoning, allowing for a wide range of commercial uses and long-term flexibility for investors or future redevelopment.
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Additional Information
- Taxes
- $8,621
- Net Operating Income
- $57,000
- Cap Rate
- 6
- Living Area
- 1,824
- Construction
- Block, Wood Frame
- Roofing
- Composition
- Cooling
- Office A/C
- Heating
- Electric
- Zoning
- C-3
- Fencing
- Block, Security
- Subdivision
- Loch Place Annex
- Electric
- SRP
- Water
- City Franchise
Courtesy of Compass. 480-980-2244
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