for sale adaptive reuse redevelopment opportunity - …€¦ · scottsdale, arizona 85251. for sale...

4238 N. CRAFTSMAN COURTSCOTTSDALE, ARIZONA 85251

FOR SALE

ADAPTIVE REUSE REDEVELOPMENT OPPORTUNITY -HEART OF OLD TOWN SCOTTSDALE

WORLDWIDEREAL ESTATE SERVICES

N. CRAFTSMAN COURT

Geoff [email protected]

Danielle DavisVice President [email protected]

Joe CosgroveSenior [email protected]


PROPERTY OVERVIEWLevRose Commercial Real Estate, as Exclusive Ad-

visor to Seller, is pleased to present to qualified in-

vestors and developers, the opportunity to acquire

the fee simple interest of 4238 N. Craftsman Court,

located in Scottsdale, Arizona. This well positioned

property provides direct access to many retail,

restaurants, hotels and other notable walkable proj-

ects. This is a rare redevelopment opportunity in the

Heart of Old Town. The property is poised for a mul-

tiple story office or retail building on the high traf-

ficked and well known street Craftsman Court.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Located in the new Opportunity Zone Districts.

• This premier location offers direct access to an

abundance of Class A office, shopping, dining and

multi-family projects.

• Plenty of street parking, plus adjacent lot AND

garage parking.

• Prime Old Town Scottsdale site in one of the most

exciting areas in Metro Phoenix.

• Tremendous daytime employment population.

• Easily accessible from Loop 101 and Loop 202.

• Located minutes away from Scottsdale Stadium,

home of the San Francisco Giants.

PROPERTY SUMMARY

Property Address 4238 N. Craftsman CourtScottsdale, AZ 85251

Offering Price $900,000

Price/SF $257.00/SF

Building Size 2,656 SF

Year Built 1973

Lot Size .078 AC (3,390 SF)

Property Type Commercial Land

Parcel Number 173-50-009

Zoning C-2, City Of Scottsdale

Property Taxes 2018: $3,6602017: $3,660 2016: $4,705


*This is only for informational purposes, the buyer/developer will have to engage the City of Scottsdale on whether or not these items can be reused. The past developing plan consisted of 3 floors, with the first being primarily gallery space, the second is office space and the third res-idence. The residence would initially serve as a showroom space for the home builder who will occupy offices on the second floor, but could be used as a residence and be lived in. The developer wanted to eventually be able to sell this residence separately, the design would enable this with separate access from the garage via use of the elevator and dedicated stairs.

This building plan included the following:

• Gallery space, primarily occupied by a design company.

• Restrooms

• Small employee kitchen

• Mechanical/Storage room

• Garage behind the first floor, under the second floor

• Bicycle rack in the back

• Stair case to the second floor from the lobby area

• Elevator to the third floor residence

• Separate stair case to the residence

• Space for conference rooms

• Several divided offices (likely divided by glass partition)

• I bedroom in the residence

• I residential office

• Fire place in the residence

• Large veranda on the Craftsman Court side on the third floor. This will also serve to hide the residence from the street

• 2 bathrooms in the residence

• Laundry room

• Terrace on the backside of the residence off the office and bedroom

• Full kitchen in the residence

PREVIOUS REDEVELOPMENT PLAN

RENDERING

CONCEPTUAL FLOOR PLAN

E. 3

RD

AV

EN

UE

AERIAL OVERVIEW

E. 3

RD

AV

EN

UE

5TH AVENUE PARKING GARAGE

N. CRAFTSMAN COURT

E. 5TH AVENUE

ARCADIA

E. 5

TH A

VEN

UE

5TH AVENUE PARKING GARAGE

N. SCOTTSDALE ROAD

N. CRAFTSMAN COURT

8742E. VIA DE COMMERCIO

N. CRAFTSMAN COURT

SCOTTSDALE OVERVIEW

Known as the “West’s most western town,” Scottsdale is a combination of cowboy culture and haute courture. Situated near the center of the Phoenix metropolitan area, Scottsdale is considered one of the most prestigious and livable cities in the country. Home to nearly 218,000 people, Scottsdale offers an enviable quality of life with abundant outdoor recreation and entertainment, luxury resorts, worldclass events, arts and culture, and shopping with a scenic backdrop of the city’s surrounding natural beauty. With a high-ly developed workforce, comprehensive buisness infrastructure and transportation links, including a world-class executive airport, Scottsdale is where a thriving economy and desirable lifestyle converge, making the city the premier location for business.

AFFLUENT POPULATION Scottsdale’s relatively large and affluent population and thriving em-ployment base allow Scottsdale to maintain a competitive edge in attracting new retailers, company headquarters, and business leaders. This population earns an average household income of $102,591 annu-ally and boasts a median home value of $465,000.

SUPERIOR LOCATION & ACCESS

DIVERSIFIED LOCAL ECONOMYThe local economy is well distributed among business services, high technology, biomedical, tourism and retail services all playing import-ant roles. Major employers include HonorHealth, Mayo Clinic, General Dynamics, CVS/Caremark, GoDaddy Group, Vanguard Group, Scotts-dale Insurance and Henkel Consumer Goods.

DESIRABLE QUALITY OF LIFEScottsdale is near the center of the Greater Phoenix metro area with immediate access to Loop 101, within minutes of Scottsdale Municipal Airport and approximately 17 miles north of Sky Harbor International Airport. This strategic location and outstanding freeway and airport access provides superior face-to-face connectivity to a massive cus-tomers base within a few hours of travel including California, Texas, and Mexico.

Scottsdale offers a desirable quality of life for its residents who enjoy a warm climate and a wealth of sunshine, as well as prestigious resi-dential communities and access to abundance of retailers and resorts, approximately 200 golf courses in the area, more than 600 restau-rants, and a flourishing arts and cultural scene with more than 100 art galleries. Major League Baseball’s Spring Training is also an exciting feature in Scottsdale, where the San Francisco Giants play at Scott-sdale Stadium in Old Town, while the Colorado Rockies and Arizona Diamondbacks play at Salt River Fields a few miles north.

8742E. VIA DE COMMERCIO

DEMOGRAPHICS

POPULATION

1 MILE 3 MILES 5 MILES

2018 21,745 100,966 210,698

2023 24,337 109,734 228,824

HOUSEHOLDS


2018 11,745 47,669 95,643

HH Growth 2018-2023: 11.47% 8.35% 8.40%

AVERAGE HOUSEHOLD INCOME


2018 $97,535 $93,971 $89,087

5 MILES

3 MILES

1 MILE


2018 21,745 100,966 210,698

2023 24,337 109,734 228,824


2018 11,745 47,669 95,643

HH Growth 2018-2023: 11.47% 8.35% 8.40%


2018 $97,535 $93,971 $89,087


CONTACTS

Geoff [email protected]

Danielle DavisVice President [email protected]

Joe CosgroveSenior [email protected]

for sale adaptive reuse redevelopment opportunity - …€¦ · scottsdale, arizona 85251. for sale...

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