1427 N 3rd St., Phoenix, AZ 85004

1427 N 3rd Street presents a rare opportunity to acquire a strategically positioned urban infill asset within the Downtown Phoenix market, directly adjacent to the rapidly expanding Midtown corridor. The property offers investors a compelling blend of existing cash flow and long-term redevelopment potential in one of Phoenix's most active urban growth markets. Flexible lease termination structures create significant optionality for an owner-user, investor, or developer seeking to reposition the asset over time while maintaining interim income and downside protection.

The property's DTC-Townsend Park zoning provides a wide range of potential future development opportunities, including higher-density residential, mixed-use, office, and adaptive reuse concepts, subject to City of Phoenix development standards and approvals. City zoning standards for the district allow for increased urban intensity, pedestrian-oriented development, and a variety of building typologies consistent with the continued evolution of Downtown and midtown Phoenix. Whether viewed as a covered land play, long-term speculative investment, or future redevelopment opportunity, the asset offers a unique chance to capitalize on the continued densification and investment momentum occurring throughout the Downtown Phoenix market.