1333 Broadway RdTempe, AZ 85282

Property Details for 1333 Broadway Rd

Year built

1977

Construction

CONCRETE

Lot size

1.14 AC

Property size (Sq ft)

8,549 SF

Zone code

GID

Property type

Office properties

Property subtype

Office buildings

APN

123-35-053F

APU

12335053F

Description

This exceptional mixed-use, retail storefront property in Tempe, Arizona presents a compelling redevelopment opportunity for owner-users. Spanning 10,160 square feet on a sizable 1.12-acre lot, this single-story building sits at 1333 W Broadway Rd, 85282, in Maricopa County. The property boasts excellent visibility and accessibility, situated in a high-traffic area with over 36,000 vehicles passing daily. Its strategic location near Arizona State University ensures a consistent flow of potential customers and high foot traffic, further enhanced by its adjacency to a newly constructed Chick-fil-A. The property's flexible development options allow for ground leases or build-to-suit projects, catering to various business models and maximizing return on investment. This presents a unique chance to capitalize on the vibrant Tempe market and create a thriving commercial venture. The current occupancy is 100%, offering immediate income potential or a blank canvas for redevelopment. This is an unparalleled opportunity to acquire a substantial property in a prime location with significant development potential. The asking price is $2,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,330,282

  6.5%

  $1,227,952

  7%

  $1,140,242

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,317,828

  Geo Method

  $1,317,828

• Alternative Use

  Use

  Valuation

  Residential

  $1,522,661

  Hospitality

  $1,394,749

  Educational

  $1,160,415

  Medical

  $1,200,324

  Retail

  $1,805,090

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.4068

Longitude

-111.959

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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