This listing includes 10610 & 10612 N 15th Lane, and encompasses 3 parcels. This offering is for a bite-sized development property on 47,862 net square feet (52,788 gross square feet) of vacant land in the incredibly popular Northwest Phoenix Submarket. The site sits on a major arterial, Peoria Avenue, and is 1.4 miles from the I-17 allowing for easy access to all parts of the Valley. The intersection of I-17 and Peoria is also the location of Hines' $750 million Metrocenter redevelopment project. There will eventually be a Valley Metro Light Rail station at Metrocenter and there is also an existing station and massive park-and-ride located less than a mile and half to the southwest. The area is infill in nature and is very supply-constrained with very little land left for development. With many dining, shopping, entertainment, and employment options, as well as multiple freeway access points within minutes, this property will prove to be an exceptional development opportunity for someone who wants a fantastic opportunity in a phenomenal location. The subject property offers a buyer a development opportunity in a submarket where there has been very little in the way of new residential or general development due to the lack of available land in the area for a number of years. The existing zoning on the property is R-3A allowing for approximately 26 units. The property is also located in a Qualified Census Tract (QCT) making it a good option for affordable housing developers. Other uses could be a small apartment project, townhomes, or a small Build-to-Rent (BTR) development. The size and location make this an exceptional development opportunity for someone looking for a zoned piece of property in a well-located part of the Phoenix MSA.
The ARMLS logo indicates a shared property that may be listed by a real estate brokerage other than the Russ Lyon Sotheby's International Realty. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Updated: 28th March, 2023 5:26 AM (UTC)
Listing Office: ABI Multifamily