2435 University DrPhoenix, AZ 85034

Property Details for 2435 University Dr

Year built

1971

Construction

CONCRETE

Lot size

0.60 AC

Property size (Sq ft)

2,966 SF

Zone code

A-2

Property type

Office buildings

APN

121-43-070

APU

12143070

Description

This exceptional Class A office space, located at 2435 E University Dr, Tempe, AZ 85034, offers 240 square feet of dedicated office area within a larger 4,800 square foot building. Built in 2022 and renovated in 2023, the property boasts a contemporary design with a 12-foot ceiling height. The single-tenant occupancy provides privacy and control. The building features ample parking with 30 spaces available for tenants and guests. This location provides excellent visibility and accessibility, situated near the intersection of Hwy 101 and University Drive in Tempe, Arizona. In addition to the private office space, tenants have access to 1200 square feet of usable common area. Property taxes are $0 per square foot. The building is a single-story structure. This is an ideal opportunity for a small business seeking a modern, well-maintained office space in a prime Tempe location with convenient highway access.

• CAP approach

  CAP return

  Valuation

  6%

  $523,067

  6.5%

  $482,831

  7%

  $448,343

• Comparable approach

  Method

  Valuation

  Relative Method

  $457,209

  Geo Method

  $457,209

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,017,010

  Retail / Commercial

  $508,513

  Mixed-Use / Specialty

  $496,453

  Hospitality / Lodging

  $350,891

  Institutional / Educational

  $512,449

  Residential Income

  $599,565

  Multifamily

  $775,894

  Automotive / Energy

  $439,242

  Parking / Income-Based Land

  $161,701

  Restaurant / Food Service

  $236,340

  Healthcare / Senior Housing

  $519,611

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Latitude

33.4236

Longitude

-112.029

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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