1405 North 1st Street, Phoenix, AZ for sale

Investment Overview

1405 N 1st Street presents a unique opportunity to acquire a highly visible office property with significant redevelopment potential in one of Phoenix's most rapidly evolving urban corridors. The offering consists of approximately 7,450 square feet of office improvements situated on four parcels totaling approximately 0.64 acres. Currently improved with an existing office building and covered parking, the property offers immediate functionality while also providing long term value through its development potential. Located within the Downtown Phoenix Overlay District and designated DTC-TWNPK, the site benefits from zoning that allows for up to 90 feet of building height and densities of up to 125 dwelling units per acre. These development standards position the property as an attractive candidate for multifamily, mixed use, or other urban redevelopment projects. The property's central location, combined with its parcel configuration and redevelopment flexibility, creates a compelling opportunity for developers, investors, and owner users seeking a foothold in Downtown Phoenix's continued growth. Additionally, the existing office improvements and parking infrastructure provide optionality for continued use, repositioning, or future redevelopment as market conditions evolve.