5501 N 19th Ave, Phoenix, AZ 85015

Flexible Exit Strategies & Condo Potential
The property is platted for 29 individual office condominiums, providing the buyer with multiple exit strategies: lease-up for stable cash flow, sell the asset as a whole, or maximize value by selling individual condo units.

Attractive Pricing Below Replacement Cost
The offering price is significantly below current replacement cost, especially given the concrete construction—a rare and highly durable feature in this product type. Additionally, ownership has invested approximately $2 million in recent capital improvements, minimizing future capex requirements.

Rare Underground Parking Garage
The building features a secure, underground parking garage—a unique amenity among Phoenix-area garden office properties. This premium feature offers enhanced tenant appeal and positions the asset competitively in the market.

Individually Metered Suites for NNN Conversion
Each condo suite has been separately metered for electric service. This investment by the current owner allows for an immediate conversion to NNN lease structures or simplifies future condo sales, eliminating the need for pro-rata utility billing.

Strategic Location Near Christown Redevelopment
The property is adjacent to Christown Spectrum Mall, Phoenix’s oldest indoor mall, which is currently undergoing a major redevelopment by Kimco Realty. Plans include transforming the area into a modern, walkable, open-air retail destination—poised to elevate surrounding property values and tenant demand.

Parking Expansion Opportunity
The property includes access to an adjacent lot with potential to expand parking, increasing convenience for tenants and enhancing lease-up potential.