7TH AVENUE REDEVELOPMENT OPPORTUNITY

Transcription

1 7TH AVENUE REDEVELOPMENT OPPORTUNITY 4130 N. 7TH AVENUE PHOENIX, AZ TRENTON MCCULLOUGH Senior Vice President MARK CASSELL ROGER BREVOORT Associate Realtor Exclusively Presented By:

2 4130 N. 7TH AVENUE PHOENIX, AZ CONTENTS I 2 CONTENTS Property Summary Page 3 Property Description Page 4-5 Photos Page 6 Aerial Views Page 7-9 Location Overview Page 10 Financial Summary Page Sale Comps Page 11 Demographics Page 12 Exclusively Represented By: TRENTON MCCULLOUGH Senior Vice President tmccullough@levrose.com MARK CASSELL Associate mcassell@levrose.com ROGER BREVOORT Realtor roger@orangeskyaz.com This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice N. Civic Center Plaza, Suite 100 Scottsdale, AZ T: WORLDWIDE REAL ESTATE SERVICES

3 4130 N. 7TH AVENUE PHOENIX, AZ PROPERTY SUMMARY I 3 PROPERTY SUMMARY PARCEL MAP Property Address: Property Type: 4130 N. 7th Avenue Phoenix, AZ Street Retail Price: $1,200,000 Lot Size: ± 24,266SF Total Building Size: ± 11,005 SF A Remodeled: 2016 Zoning: C-2 Market: Phoenix Sub Market: Midtown/Central Phoenix Cross Streets: 7th Avenue & Indian School Road

4 N. E CHANDLER 7TH AVENUE BLVD PHOENIX, AZ AZ PROPERTY DESCRIPTION I 4 PROPERTY FACTS PARCEL Parcel: A Lot Size: ±24,266 ZONING C-2 TRAFFIC COUNTS 7th Ave - 26,319 VPD Indian School Rd - 36,216 VPD

5 4130 N. 7TH AVENUE PHOENIX, AZ PROPERTY DESCRIPTION I 5 Responding to the Phoenix automobile culture flourishing during the late 1950s, the Paris Laundry & Dry Cleaning building created an image to attract motorist customers using the popular Googie style. The exuberant roof-mounted sign and the boomerang shape of the tilting canopy columns give the drycleaner building the look of a 1950s drive in restaurant. PARIS LAUNDRY & DRY CLEANING North 7 th Avenue The building s location on the west side of 7th Avenue was calculated for the convenience of commuting customer dropoffs while driving to work downtown in the morning. As an added amenity and service, Berman s Furs also shared the building originally. The focal point of the façade is its remarkable angular drive-thru canopy rendered in a Modern style popular for roadside architecture of the 1950s and 1960s. The eye-catching canopy adjacent to the street is simply attached to the front of an otherwise undistinguished, low-profiled rectangular box intended for a functional 1957 Responding to the Phoenix automobile culture flourishing during the late 1950s, the Paris Laundry & Dry Cleaning building created an image to attract motorist customers using the popular Googie style. The exuberant roof-mounted sign and the boomerang shape of the tilting canopy columns give the dry cleaner building the look of a 1950s drive in restaurant. The designer, Copperstate Engineering Co., and owner, Horace T. Fowler, concentrated on the image of the front façade only. By contrast, most freestanding coffee shops of the day were designed as three-dimensional forms which integrate architectural features all around. Built at a cost of $114,000, the 12,000-square-foot facility was constructed of concrete blocks and bowstring wood trusses that were fabricated on the site. The drive-thru canopy was supported by three steel columns covered with two inches of fire-resistant concrete. *City of Phoenix, MidCentury Marvels, Commercial Architecture in Phoenix

6 4130 N. 7TH AVENUE PHOENIX, AZ PROPERTY PHOTOS I 6

7 4130 N. 7TH AVENUE PHOENIX, AZ AERIAL I 7 Melrose District Shops and Restaurants 1. Charlie s Phoenix 2. Refuge Café 3. Consign at Chez 4. Sweet Salvage 5. Char s Has the Blues 6. Restfab 7. Modern on Melrose 8. Figs Home & Garden 9. Twigs and Twine 10. Pat O s Bunkhouse 11. Stacy Melrose 12. Melrose Pharmacy 13. Melrose Kitchen 14. Melrose Liquor s 15. Retro Ranch 16. Melrose Vintage 17. Copper Star Coffee 18. Toasted 19. Sirens & Saints 20. Rust & Roses 21. Phoenix Burrito House 22. Zinnias at Melrose

8 4130 N. 7TH AVENUE PHOENIX, AZ AERIAL I N. 7th Ave W. INDIAN SCHOOL - 36,216 VPD N 7TH AVE - 26,319 VPD

9 4130 N. 7TH AVENUE PHOENIX, AZ PHOENIX NEIGHBORHOODS AERIAL I 9 WOODLEA MELROSE MEDLOCK WINDSOR CAMELBACK ROAD PIERSON PLACE 4130 N. 7th Ave INDIAN SCHOOL ROAD N CENTRAL AVE THOMAS ROAD ENCANTO WILLO MCDOWELL ROAD CORONADO F.O. STORY

10 4130 N. 7TH AVENUE PHOENIX, AZ LOCATION OVERVIEW I 10 MELROSE COMMERCIAL NEIGHBORHOOD Melrose on 7th refers specifically to the Central Phoenix stretch of 7th Avenue that travels through the historic Melrose residential neighborhood, roughly between Indian School Road to the south, and Camelback Road to the north. Over the years, Seventh Avenue, between Indian School and Camelback roads has become a destination shopping district just a little north of the historic neighborhoods of central Phoenix. Since the 1950s, entrepreneurs have staked out a spot along the Seventh Avenue curve. Melrose on 7th contains a patchwork of residential and commercial infrastructure, some of which dates as far back as the 1940s. Though always an established neighborhood, it wasn t until the past decade that the area truly began to solidify into the vibrant one it is and is still becoming today. Besides its quaint collections of single-family, post-war residences weaved throughout, Melrose on 7th has largely become known as a citywide epicenter for all things secondhand. From retro duds to mid-century furnishings and home accessories, the district has made a name for itself as a one-stop shopping destination for all things vintage. A blink and you might miss it Phoenix hotspot, the Melrose District is developing a stronger brand and becoming a more vibrant community.

11 4130 N. 7TH AVENUE PHOENIX, AZ SALE COMPS I 11 SOLD COMPARABLES N. 7th Street Phoenix, AZ N 7th Street Phoenix, AZ Sale Price: $1,350,000 Sale Price: $1,775,000 Year Built: 1965 Lot Size: 1.82 AC Building SF: 12,500 SF Year Built: 1959 Price PSF: $108.00/SF Building SF: 18,000 SF Closed: 03/24/2015 Price PSF: $98.61/SF NOI: $0 Closed: 09/30/ N. 7th Street Phoenix, AZ W. Indian Road Phoenix, AZ Sale Price: $815,000 Sale Price: $285,000 Lot Size: 0.41 AC Lot Size: 0.03 AC Year Built: 1956 Year Built: 1968 Building SF: 5,940 SF Building SF: 5,063 SF Price PSF: $137.21/SF Price PSF: $56.29/SF Closed: 08/09/2016 Closed: 02/25/2014

12 4130 N. 7TH AVENUE PHOENIX, AZ DEMOGRAPHICS I 12 DEMOGRAPHICS POPULATION 1 MILE 3 MILES 5 MILES 2015 TOTAL POPULATION 18, , ,861 MEDIAN AGE (MALE) MEDIAN AGE (FEMALE) HOUSEHOLDS & INCOME 1 Mile 3 MILES 5 MILES 2015 TOTAL HOUSEHOLDS 8,470 65, , TOTAL # OF PERSON PER HH AVERAGE HH INCOME $48,047 $55,096 $53, AVERAGE HOUSE VALUE $197,154 $324,362 $311,992

13 7TH AVENUE REDEVELOPMENT OPPORTUNITY 4130 N. 7TH AVENUE PHOENIX, AZ TRENTON MCCULLOUGH Senior Vice President MARK CASSELL Associate ROGER BREVOORT Realtor