TUCSON, Arizona -- A former law office at 250 N Meyer Ave. in Downtown Tucson sold to local investors, 250 N Meyer Investments LLC or Tucson (Ben Pozez and Michael Shiner, members) to renovate for lease. Located in Tucson' s Central Business District, the one-story office building is situated at the northeast corner of Meyer Avenue and Council Street, a stone' s throw away from all key downtown governmental buildings, the court system, museums and some of Tucson' s best dining opportunities.
The property commanded a sale price of $682,500 ($90 PSF) in a short sale.
Originally constructed in 1956 as a single-family residence, the property was expanded and repurposed as a law office in 1971, and expanded again to its current size of 7,570-square-feet in 1978. Then completely renovated again in 2008.
The property consists of two contiguous parcels that total 19,109-square-feet. It is zoned HO-3 (office zoning) which allows for office, medical, civic, and other similar land uses.
The seller, 250 N Meyer LLC (John Battaile and Alexandra Altfeld, members), was an owner occupant doing business as Battaile & Altfeld Law Firm for about 40 years there, and had designed the property as an attorneys' office. It is ideal for that use, but buyers are also ready to do a custom repurpose for a new use and new tenant.
Unlike most buildings downtown, it does have its own 24 on-site parking spaces that are controlled by a drop gate controlled access system, Pozez told us. The building' s amenities include a landscaped courtyard view from several of the offices, and a fireproof walk-in vault for storage of documents and valuables.
Mark Irvin, CCIM, of Mark Irvine Real Estate Services in Tucson represented the seller and Michael Shiner of CXT Realty negotiated for the buyer as agent and one of the principles in the transaction.
For more information, Irvin should be contacted at 520.620.1833. For leasing information, Pozez can be reached at 520.237.9924.
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[wlm_ismember]Sale date: 3/30/2017. Property was vacant at time of sale. Document #2017-0890491. APNs: 117-10-101 & 100A. All cash deal. [/wlm_ismember]