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MultiFamily Land on Light Rail, Tempe Border

Listing was updated on: 02/13/2020
MultiFamily Land on Light Rail, Tempe Border

Property Overview

Price/Rent PSF $ 1,600,000.00
Asset Type Land
Trade Type Sale
Acres Available 1.39
Date Available 02/13/2020
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Description

Location
1/2 mile East of Price Rd (Loop 101) Along Apache/Main St in Mesa.

The subject property is located at 2330 W Main Street in the City of Tempe, Maricopa County, Arizona. The subject property is in a very good location with respect to commercial services, thoroughfares, public transportation and community services. Appeal of the area is very good and in redevelopment in terms of retail, commercial and residential use. The subject benefits from busy commuter and local traffic along Main Street and Apache Blvd. The area is anticipated to experience growth in the foreseeable future due to its location near ASU, on the light rail extension, and very close to many other new MultiFamily developments on Aparche Blvd in Tempe. Cities along the light rail are now allowing new ‘Walkable Urban’ zoning, with generally allows up to 5 stories in new construction along the light rail corridor. St. Benedictine, Wilkes Universities are located in the downtown area. ASU (Arizona State University) has an approved new campus in the Downtown Mesa City Center.

Metro Phoenix Location
The Metro Phoenix area is among the fastest-growing metropolitan areas in the country with an estimated 4.3 million residents. It has an accessible location, excellent lifestyle amenities, a pro-business Governor with a growing business and entrepreneurial climate. The area has a predictable 320+ days of sunshine each year with mild winter temps and summer months of dry heat. Phoenix is the epicenter of the Southwest and proves to be particularly desirable to aerospace, nanotechnology, bioscience, advanced business services, high-tech and healthcare. Phoenix is home to major sports franchises: Arizona Diamondback baseball, Phoenix SUNS basketball, and Arizona Cardinals football and Arizona Coyotes hockey.


Sale
Land with 210 ft Main St & Light Rail frontage available for sale or assemblage, along Transit Overlay Section. Close to Tempe ASU, 3 miles from newly approved ASU Downtown Campus; next to the Tempe border on W Main St.

Location

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