For Sale
$7,100,000

903 Miller RdTempe, AZ 85288

207 Units, Fully Entitled, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 1.8-acre development site in Tempe, Arizona, presents a rare opportunity to construct a 207-unit Class A multifamily building. Located at 903 & 909 N Miller Rd (APN: 132-17-007G, 002B), this fully entitled project boasts a PAD zoning designation within the city of Tempe. The site offers 303,984 square feet of total area, with 160,740 square feet of net rentable space spread across a six-story building. Its prime location directly on the green belt provides residents with convenient access to outdoor recreation. Furthermore, its proximity to Arizona State University's NOVUS Innovation Corridor and the South Pier Master Plan ensures strong demand from both students and professionals. The property benefits from excellent freeway access and is situated in an economically resilient submarket, making it an ideal investment for those seeking immediate development potential. The project's designation as an Opportunity Zone further enhances its investment appeal. This is one of the last remaining infill opportunities in Tempe, offering immediate development potential with all necessary approvals already in place. The property's strategic location and strong market fundamentals make it a compelling investment opportunity. The asking price for this exceptional development site is $7,100,000.

Highlights

  • 207-unit multifamily development, fully entitled.
  • Opportunity Zone designation enhances investment value.
  • Prime location north of ASU's NOVUS Innovation Corridor and South Pier Master Plan.
  • Strong, stable submarket.
  • Excellent freeway access.
  • Attractive to both student and general residential renters.

Property Details for 903 Miller Rd

Property type
Land, Dormitories
Square Feet
303,984 SF
Class
A
Buildings
1
Stories
6
Lot Size (sq. ft)
78,408 SF
Units
207

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.4391907
Longitude
-111.9174561
903 Miller Rd, Tempe, Arizona

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903 Miller Rd
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