Multi-Family

17th Ave & Missouri

5307 N 17th Ave, Phoenix, AZ 85015

Listing Price: $1,700,000

Lot Size
1.54 acres
Price/Acre
$1,103,896
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to present for sale +/- 1.54 prime acres located in an Opportunity Zone near North 17th Avenue and West Missouri Avenue in Phoenix, Arizona. The seller has recently rezoned property with plans for 40 condo units with three elevators to the third floor. The subject property is in a very good location with respect to commercial services, thoroughfares, public transportation and community services. Appeal of the area is redevelopment in terms of retail, commercial and residential uses. The area is anticipated to experience growth in the foreseeable future due to its location near the light rail line and 19th Avenue corridor. It is a 5 min. bicycle ride to Grand Canyon University and a short walk to the light rail to get anywhere in the city! Cities along the light rail are now allowing new ‘Walkable Urban’ zoning, which generally allows up to five stories in new construction along the light rail corridor. Local demographics feature a population base of over 435,000 in a five-mile radius, which is expected to grow 10% over the next five years and includes incomes over $66,000 and consumer spending at $4.2 billion within a five-mile radius. This property is zoned T4:3 Residential with a mix of housing types permitted: single-family, duplexes, multi-family and single-family attached (townhouses). Home occupations and professional offices permitted. Maximum height: 40-ft (T4:3). That zoning creates a no density cap on the land, only limited by parking requirement.

Investment Highlights

  • Opportunity Zone
  • 1 Block from Light Rail Station and Park N Ride
  • 2 Blocks from Christown Spectrum Mall
  • 1 Mile East of Interstate-17
  • 2+ miles to Grand Canyon University

Exclusively Listed By

Listing Price: $1,700,000

Lot Size
1.54 acres
Price/Acre
$1,103,896
Land Type
Land

Investment Highlights

  • Opportunity Zone
  • 1 Block from Light Rail Station and Park N Ride
  • 2 Blocks from Christown Spectrum Mall
  • 1 Mile East of Interstate-17
  • 2+ miles to Grand Canyon University

Investment Overview

Marcus & Millichap is pleased to present for sale +/- 1.54 prime acres located in an Opportunity Zone near North 17th Avenue and West Missouri Avenue in Phoenix, Arizona. The seller has recently rezoned property with plans for 40 condo units with three elevators to the third floor. The subject property is in a very good location with respect to commercial services, thoroughfares, public transportation and community services. Appeal of the area is redevelopment in terms of retail, commercial and residential uses. The area is anticipated to experience growth in the foreseeable future due to its location near the light rail line and 19th Avenue corridor. It is a 5 min. bicycle ride to Grand Canyon University and a short walk to the light rail to get anywhere in the city! Cities along the light rail are now allowing new ‘Walkable Urban’ zoning, which generally allows up to five stories in new construction along the light rail corridor. Local demographics feature a population base of over 435,000 in a five-mile radius, which is expected to grow 10% over the next five years and includes incomes over $66,000 and consumer spending at $4.2 billion within a five-mile radius. This property is zoned T4:3 Residential with a mix of housing types permitted: single-family, duplexes, multi-family and single-family attached (townhouses). Home occupations and professional offices permitted. Maximum height: 40-ft (T4:3). That zoning creates a no density cap on the land, only limited by parking requirement.

Exclusively Listed By

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