345 W Van Buren St - Storefront FOR SALE


Phoenix, AZ 85003
$6,000,000 USD
602-735-5254
345 W Van Buren St, Phoenix, AZ for Sale
$6,000,000 USD
Storefront - FOR SALE
1/7
null | 6.03% Cap Rate

345 W Van Buren St
Phoenix, AZ 85003


OVERVIEW

CBRE is pleased to exclusively offer for sale The Welnick Marketplace (“the Property”), a 100% occupied, multi-tenant retail development located in Downtown Phoenix. The Welnick Marketplace is ±13,968 rentable square feet located in the City of Phoenix Entertainment District. The brothers, Leo and Ed Welnick, built Welnick Bros Marketplace in 1927. The adjacent Liefgreen Seed building make up the entire adaptive reuse project ±13,968 SF. In August of 2016 the property was placed on the National Register of Historic Places by the United Stated Department of Interior. Between 2015-2016 Developer Ownership spent over $2.0 million on all new roof, HVAC, structural, life safety, electrical and plumbing. Tenants are State 48 Brewery, Gus’s World Famous Fried Chicken, and Quartz Cocktail Bar. There will not be any Tenant rollover until 2031. Welnick Marketplace presents a rare opportunity for an Investor to acquire a 100% leased retail development located in Downtown Phoenix Entertainment District.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$429 USD /SF

CAP RATE

6.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Welnick Marketplace

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1926

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

DTC-VAN

APN/PARCEL ID

112-20-086A

ASK ABOUT THIS PROPERTY

Chris AckelCBRE, Inc.More Info
602-735-5254

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Chris AckelCBRE, Inc.More Info
602-735-5254

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.