$5,100,000
Phoenix, AZ 85012
MLS# 6282464
Status: Closed
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Property 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.
Details
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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