709 S 3rd St
Phoenix, AZ 85004

709 - 711 South 3rd Street presents an extraordinary opportunity to buy
two adjacent lots (totaling 14,528 SF) right outside the downtown core
that are primed for a commercial, mixed-use, or multifamily development.
Located in the Warehouse District, this area is increasingly becoming the
most attractive development neighborhood in the downtown market as
massive investments and new projects have recently been completed.

The properties are located in the City of Phoenix’s DTC-Warehouse
zoning code and provide for a dynamic array of commercial and
residential development uses. The zoning allows buildings up to 40 feet in
height, there are minimal setback requirements and there are no parking
requirements for commercial uses. Build up to 26 units of multifamily
rentals, a townhome for-sale product, or a business owner user could
fix up the building for their office or retail storefront and use the land
for storage, or just buy for future appreciation as the area continues to
develop around it.

The location on these parcels is incredibly unique. The subject properties
are within a short walk (six blocks) to both the Footprint Center (Home
of the NBA Phoenix Suns / WNBA Mercury and many concerts and
events) and Chase Field (Home of the MLB Arizona Diamondbacks). The
Downtown Convention Center is less than a 10-minute walk as well as
the core business hub of downtown along with the Arizona State Capitol
buildings. Within the last year the new ownership group for the Suns and
Mercury have invested over $130,000,000 in acquiring and developing
an assemblage of real estate within half a block of the subject property.
This is the new headquarters for the teams and over 300+ employees
currently work there daily.

Downtown Phoenix has exploded with new restaurants, bars, and
entertainment options over the past decades and all those amenities
are within a short distance of these properties. Other major downtown
attractions are within walking distance or just a short drive or bike
including: The Science Center / Heritage Square, Herberger Theater,
downtown university campuses (ASU, UofA, and NAU) and many of
downtown Phoenix’s main attractions and business centers. Phoenix Sky
Harbor International Airport is only a 10-minute drive from the site.

The properties have easy access to light rail and public transportation.
The South Phoenix light rail extension is under development and slated
to be completed in 2025. A stop for the light rail will be several blocks
away from the project on Central Avenue and Grant Street.