2929 48Th StTempe, AZ 85282

Property Details for 2929 48Th St

Year built

1989

Construction

CONCRETE

Lot size

2.29 AC

Property size (Sq ft)

2,841 SF

Zone code

GID

Property type

Office properties

Property subtype

Office buildings

APN

123-28-007B

APU

12328007B

Description

This exceptional Tempe retail outparcel, located at the highly visible intersection of 48th Street and Alameda Drive, presents a unique investment opportunity. The property boasts a total of 27,945 square feet of space, currently entirely vacant and available for lease. The flexible layout allows for multiple tenancy options, with a minimum divisible space of 2,600 square feet and the potential to lease the entire 27,945 square feet contiguously. The property is zoned GID by the City of Tempe and situated in Maricopa County. This prime location benefits from exceptional accessibility, with easy access to Interstate 10, ensuring high visibility and convenient access for customers and employees. The surrounding area demonstrates strong economic activity, with over 256,461 employees within a 5-mile radius and over 1,200 hotel rooms within 3 miles, indicating a substantial and diverse customer base. This makes it an ideal location for a variety of retail businesses seeking high foot traffic and strong market presence. The property's size and flexibility offer significant potential for a single large tenant or multiple smaller businesses. This is a rare opportunity to secure a prominent retail space in a thriving Tempe location. Contact us today to learn more about this exceptional property and explore leasing options.

• CAP approach

  CAP return

  Valuation

  6%

  $442,079

  6.5%

  $408,073

  7%

  $378,925

• Comparable approach

  Method

  Valuation

  Relative Method

  $437,940

  Geo Method

  $437,940

• Alternative Use

  Use

  Valuation

  Residential

  $506,010

  Hospitality

  $463,502

  Educational

  $385,629

  Medical

  $398,891

  Retail

  $599,867

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.3969

Longitude

-111.978

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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