417 N 16th Street -, Phoenix, AZ 85006 (MLS# 6145867)

417 N 16th Street -, Phoenix, AZ 85006

$4,500,000

Property Type: Land Lot Size (sq. ft.): 231,739 Status: Closed

Current Price: $4,500,000 List Date: 10/13/2020 Last Modified: 1/01/2022

Overview

Description

The Van Buren corridor from 7th St to Interstate 10 is currently a top priority at the City of Phoenix as a revitalization project (street widening and beautification, moratorium on car dealerships/automotive repair shops) to enhance the overall area . One of the largest vacant land parcels available in the downtown Phoenix market, with all utilities to the property and all off sites completed. Site has great access to Interstate 10 via interchanges at 16th St and Washington St / Jefferson St. The property is located with in an ''Opportunity Zone'' which offers investors who reinvest capital gains monies in these areas to receive reductions on capital gains taxes relative to the years of their investment.

Listing Details MLS# 6145867

Location, Tax & Legal

Map Code/Grid: R34
House Number: 417
Compass: N
Street Name: 16th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Country: US
County Code: Maricopa
Assessor Number: 116-17-157
Tax Year: 2020

Contract Information

For Sale or Lease?: Sale
Type: Exclusive Right To Sell

General Property Description

Apx Total Acres: 5.32
Apx Total Acres G/N: G
Price Per Acre: 874060.15
Apx SqFt: 231739.2
Price Per SqFt: 20.07
Apx SqFt G/N: G
Lot Size Dimensions: -
Zoning: WU

Remarks Misc

Cross Street: Just N of the NEC of 16th Street & Van Buren Stree

Status Change Info

Off Market Date: 2021-08-10
Under Contract Date: 2021-07-22
Close of Escrow Date: 2021-12-31

Legal Info

Lot Number: -

More Information

Sold Info

Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Balloon
Buyer Concession $/%: %
Seller Concession $/%: %

Property Features

Special Listing Cond: N/A Existing Land Use: Commercial Acreage Zoned Presently: Commercial Parcel Size: 5.00 - 9.99 Acres Water Source: City Franchise Sewer: Sewer - Public Electric: City Electric Gas: City Gas Distance to Cable: On Property Distance to Phone: On Property Distance to Water: On Property Distance to Electric: On Property Distance to Gas: On Property Distance to Sewer: On Property Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Conventional Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Conventional Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Other Loan: Not Applicable New Financing: Cash; Conventional Environmental: None Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None

Listing Office: Insight Land & Investments

Last Updated: January - 01 - 2022

417 N 16th Street -, Phoenix, AZ 85006 (MLS# 6145867)