$2,650,000
$350K PRICE DROP

512 W Adams St Phoenix, AZ 85003

Downtown Phoenix Neighborhood

Estimated payment $14,355/month

Total Views 7,450
-- Bed
-- Bath
26,730 Sq Ft
$99 Price per Sq Ft

About This Home

Unique Opportunity for possible development in the heart of downtown Phoenix with special DTC (Downtown) Zoning allowing a developer to build up. This property offers approximately 26,730 square feet of versatile space, ideal for businesses seeking a distinctive and strategic location. 3 parcels are included in the sale including 112-20-052, 112-20-053, and 112-20-055. This rare opportunity shares a corner with the famous Arizona Financial theater on the corner of 5th Ave. and Adams St. this is the best deal for a downtown property and will not last long on the market.

Listing Agent

Edson Salas

ES Realty License #BR578194000 Listed on: 02/28/2025

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $7,618

Year Built

  • Built in 1958

Lot Details

  • 6,909 Sq Ft Lot
  • Property is zoned DTC-VanB

Parking

  • Public Parking

Home Design

  • Built-Up Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • 26,730 Sq Ft Home
  • Concrete Flooring

Listing and Financial Details

  • Tax Lot 4
  • Assessor Parcel Number 112-20-053

Community Details

Overview

  • 3 Buildings
  • Phoenix 1 Through 4 & 11 Through 18 Subdivision

Building Details

  • Operating Expense $7,618

Property Details

Property Type

Other

Est. Annual Taxes

$7,618

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Cross Street: Adams and 5th Ave
  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: DTC-VanB
  • Number Of Buildings: 3
  • Ownership: Fee Simple
  • Year Built: 1958
  • Tax Year: 2024
  • Lot Size Acres: 0.16
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Subdivision Name: PHOENIX 1 THROUGH 4 & 11 THROUGH 18
  • Structure Type: Commercial, Industrial
  • Water Source City Franchise: Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Concrete
  • Living Area: 26730.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: Stucco, Block
  • Roof: Built-Up
  • Construction:Block: Yes
  • Construction:Stucco2: Yes

Garage/Parking

  • Parking Features: Parking Lot
  • Attached Garage: No
  • Parking Features Public Parking: Yes

Utilities

  • Electric: Other (See Remarks)
  • Cooling: See Remarks
  • Heating: See Remarks
  • Green Building Features: Other (See Remarks)
  • Water Source: City Franchise

Association/Amenities

  • Amenities:Other (See Remarks)32: Yes

Lot Info

  • Lot Size Sq Ft: 6909.0
  • Parcel #: 112-20-053

Multi Family

  • Annual Operating Expense: 7618.0

Tax Info

  • Tax Annual Amount: 7618.0
  • Tax Book Number: 112.00
  • Tax Lot: 4
  • Tax Map Number: 20.00

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,092 $56,968 $56,968 --
2024 $7,544 $54,255 $54,255 --
2023 $7,544 $88,080 $88,080 $0
2022 $7,276 $65,235 $65,235 $0
2021 $7,221 $65,235 $65,235 $0
2020 $7,305 $45,480 $45,480 $0
2019 $7,293 $42,510 $42,510 $0
2018 $8,449 $47,715 $47,715 $0
2017 $8,858 $49,710 $49,710 $0
2016 $8,604 $46,455 $46,455 $0
2015 $8,657 $48,112 $48,112 $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/15/2025 09/15/25 Price Changed $2,650,000 -11.7% $99 / Sq Ft
02/28/2025 02/28/25 For Sale $3,000,000 -- $112 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- Old Republic Title
Special Warranty Deed $1,000,000 Fidelity National Title Agen
Special Warranty Deed $1,130,000 Fidelity National Title Agen
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $2,000,000 Commercial
Source: Public Records

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6828239

Arizona Regional Multiple Listing Service (ARMLS)

APN: 112-20-053

Arizona Maricopa County Phoenix 85003 Downtown Phoenix

512 W Adams St, Phoenix, AZ

For Sale

Other

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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Edson Salas
Listing Agent
Edson Salas
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ES Realty
(623) 294-6019