Parkvale Medical Building

4616 N 51st Ave Phoenix, AZ 85031

4616 N 51st Ave, Phoenix, AZ, 85031
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FOR SALE
Property Type:
Medical/Healthcare
Amount:
$10,650,000
Last Verified:
Nov 22, 2024

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Highlights

  • Parkvale Medical Building offers new ownership the benefits of existing cash flow stability
  • Significant upside through the lease-up of the remaining vacant suites
  • Existing leases are below market rental rates
  • Leased to a diverse mix of medical office users
  • Priced significantly below replacement cost

Description

Prime opportunity: Parkvale Medical Building is a 2-story suburban office building located adjacent to Valleywise Behavioral Health Center (Maryvale).


Year Built: 1980
Building Size: 42909sq ft
Building Class: B
Lot Size: 2.51 acres


Documents

4616 N 51st Ave OM.pdf

Map of 4616 N 51st Ave, Phoenix, AZ, 85031

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.