Overview

Description

AK Commercial Properties is pleased to exclusively present for purchase 2.98 acres of land at 749 East Elwood Street in Phoenix, Arizona. The property is situated on the ESEC of South 7th Street & East Elwood Street.

The property is surrounded by commercial, multi-family, single family, and industrial development. A short nine minute drive from downtown Phoenix and access to dozens of dining venues and bars, Footprint Center (home of the NBA Phoenix Suns, WNBA Phoenix Mercury, IFL Arizona Rattlers), Chase Field (home of the MLB Arizona Diamondbacks), nine music venues, over thirty arts & cultural centers, local farmers markets, and many shopping centers.

The land is currently zoned R-4 & C-3 by the City of Phoenix, which allows for moderate-to-heavy multifamily density. The rectangular shaped property has 415 linear feet of frontage on Elwood Street which saw 1,422 VPD in 2016, and is 200 feet from the intersection of Elwood and 7th Street which saw 25,663 VPD in 2015. Additionally the property is 1 mile from a full diamond interchange to the I-17 freeway, which is a major thoroughfare throughout the Phoenix Valley; and is 3.8 miles to the Phoenix Sky Harbor International Airport.

Major employers in the area include: Amazon Fulfillment Centers, Phoenix Union School District, Banner Health, Walmart Stores, Arizona State University, Intel Corp., US Airways, USPS, American Express, Freeport-McMoran Copper & Gold, Arizona Public Services, Kroger, Maricopa Community College District, Salt River Project, Abrazo Healthcare.

Highlights

• High demand for rental units in the Phoenix Valley
• Rising rental/occupancy rates
• Infill development opportunity
• Opportunity Zone
• 113,668 Daytime Employees within 3 mile radius

Documents

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