The former La Patisserie Bakery, located at 1317 W. McKinley Street in the middle of the blossoming Grand Avenue Arts District in Downtown Phoenix, is available for sale along with several other adjacent parcels.
The property is a mixture of multifamily and commercial zoning properties totaling 1.19 acres for $2,125,000, which is the largest assemblage of available property along Grand Avenue Arts District, according to Gene Montemore of Real Living Success Realty.
“This collection of available land is unprecedented in the Grand Avenue Arts District,” says Montemore. “It has immediate proximity to galleries, clubs, restaurants, and is a simple walk or bike ride to everything in the Downtown Phoenix core.”
Montemore was hired to represent the sellers in any negotiations for the the La Patisserie site consisting of an 11,960-square-foot building sitting on 25,800 square feet of land as well as three additional parcels of land. The total assembled of land amounts to 51,780 square feet with a mixture of R5, C2 and C3 zoning.
“We’re looking for a buyer who will build off the dynamic and organic growth Grand Avenue is experiencing and use its momentum to create something special,” Montemore adds. “This site can take the neighborhood to the next level.”
Properties like this continue to grow in demand as more adaptive re-use, infill and urban developments are seen across the Valley, which coincides with market trends consisting of convenient access to nearby amenities, restaurants and resources for businesses’ employees.