1250 Baseline RdTempe, AZ 85283

Property Details for 1250 Baseline Rd

Year built

1980

Construction

CONCRETE

Lot size

0.41 AC

Property size (Sq ft)

5,136 SF

Zone code

PCC-2

Property type

Office properties

Property subtype

Office buildings

APN

133-38-003B

APU

13338003B

Description

This exceptional investment opportunity presents a fully leased, 10,272 square foot Class B office building situated on a 32,670 square foot lot in Tempe, Arizona. The property, known as East Baseline Professional Plaza, boasts a strong 6.30% cap rate and a substantial net operating income (NOI) of $153,488. Built in 1980 and extensively renovated in 2022, the two-story building features a wood frame and stucco exterior, an elevator, and a well-maintained courtyard. The property offers 20 covered parking spaces (5 spaces per 1,000 sq ft), and each suite includes its own bathroom. The building is currently 100% occupied with multi-tenant leases, providing immediate cash flow. Rents are either full-service (net of janitorial) or gross. Located at 1250 E Baseline Rd, Tempe, AZ 85283, the property benefits from prominent street frontage and enjoys a desirable location along Baseline Road. The property is zoned PCC-2, City of Tempe. Recent improvements include a new roof underlayment and coating (March 2022). This is a rare opportunity to acquire a well-maintained, high-performing multi-tenant office building in a thriving Tempe market. The asking price is $2,435,000, translating to $237.05 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $871,920

  6.5%

  $804,849

  7%

  $747,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $791,714

  Geo Method

  $791,714

• Alternative Use

  Use

  Valuation

  Residential

  $998,013

  Hospitality

  $914,174

  Educational

  $760,582

  Medical

  $786,740

  Retail

  $1,183,128

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.3789

Longitude

-111.918

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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