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
IDX
Listing Office: Insight Land & Investments
Last Updated: January - 01 - 2022
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