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    500 E Thomas Road

    Phoenix, AZ 85012
    • $2,600,000
    • STATUS: Active
    • ON SITE: 101 days
    • MLS #: 6092400
    UPDATED: 43 min ago
    $2,600,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1970
    County:
    Area:

    School Ratings & Info

    Description

    500 E Thomas is an incredible ''shovel-ready'' office to multifamily conversion consisting of 26 individual units, business center and outdoor recreational area. The current three-story structure was designed by the award winning mid-century modern architect Al Beadle in 1970 and comprises nearly 20,000sf of office space on a 30,000sf parcel. MOD a+p, a local Phoenix design firm, has provided plans to tastefully implement modern design elements to the exterior and common areas without disturbing the original character of the structure. Current ownership has completed all the heavy lifting of the permitting and rezoning process and will provide City of Phoenix approved plans with the purchase of 500 E Thomas.500 E Thomas provides an investor the rare opportunity to purchase an iconicBeadle designed building with City of Phoenix approved plans and permits to convert to a highest-and-best-use 26 unit multifamily community with both a business center and outdoor recreation area.

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    © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Maison DeBlanc Real Estate. Data last updated 2020-09-28T11:12:40.977.
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    500 E Thomas Road Phoenix, AZ 85012

    • Price: $2,600,000
    • Status: Active
    • Updated: 43 min ago
    • MLS #: 6092400
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1970
    Built
    Neighborhood:
    500 EAST THOMAS ROAD CONDOMINIUM
    County:
    Maricopa
    Area:
    Phoenix
    School District:
    001 - Phoenix Elementary District
    Property Description
    500 E Thomas is an incredible ''shovel-ready'' office to multifamily conversion consisting of 26 individual units, business center and outdoor recreational area. The current three-story structure was designed by the award winning mid-century modern architect Al Beadle in 1970 and comprises nearly 20,000sf of office space on a 30,000sf parcel. MOD a+p, a local Phoenix design firm, has provided plans to tastefully implement modern design elements to the exterior and common areas without disturbing the original character of the structure. Current ownership has completed all the heavy lifting of the permitting and rezoning process and will provide City of Phoenix approved plans with the purchase of 500 E Thomas.500 E Thomas provides an investor the rare opportunity to purchase an iconicBeadle designed building with City of Phoenix approved plans and permits to convert to a highest-and-best-use 26 unit multifamily community with both a business center and outdoor recreation area.
    Exterior Features

    Construction Frame - Metal Construction Finish Painted Covered Parking Spaces 33.00 Lot Size Dimensions 29994 Sf Parking >1 Space Per Unit Roads Asphalt Roofing Other (See Remarks)

    Interior Features

    1 Bedroom Unit Avg Sq Ft 649 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 0 2 Bedroom Units Baths 0 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included None Cooling Individual Efficiency Unit Avg Sq Ft 548 Efficiency Unit Baths 1 Floors Concrete Heating Individual

    Property Features

    1 Bedroom Unit Avg Rent 1650.00 1 Bedroom Units 13 2 Bedroom Unit Avg Rent 0.00 2 Bedroom Units 0 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 0.00 Annual Ownr Asoc Fee 0.00 Community Amenities Barbecue Area(S)Game/Rec RoomOther (See Remarks)Shuffle Brd/Lawn Bwl Cross Street 5th Street & Thomas Efficiency Unit Avg Rent 1350.00 Efficiency Units 13 Electric Individual Meter Gas None Gross Annual Sch Inc 0.00 Hoa YN No Net Operating Income 0.00 New Financing Conventional Operating Exp 20892.00 Other Income 0.00 Owner Pays Other Project Type 25 - 50 Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Other (See Remarks) Tax Municipality Phoenix Taxes 20892.00 Tenant Pays Electric Vacancy Allowance 0.00 Water Individual Meter Zoning R-5

    Listing courtesy of Apartment Realty Advisors Of A.


    © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Maison DeBlanc Real Estate. Data last updated 2020-09-28T11:12:40.977.
     
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