7305 Kyrene RdTempe, AZ 85283

Property Details for 7305 Kyrene Rd

Year built

2000

Construction

CONCRETE

Lot size

1.32 AC

Property size (Sq ft)

11,220 SF

Zone code

GID

Property type

Retail properties

Property subtype

Strip malls

APN

301-47-015H

APU

30147015H

Description

This exceptional 12,220 square-foot property located at 7305 S Kyrene Road in Tempe, Arizona presents a unique owner-user or add-value investment opportunity. Situated on a sizable 1.32-acre lot, the property is zoned I-1 (Light Industrial), offering considerable flexibility for a variety of uses. Originally constructed in 2000 as a retail strip center, the building has a proven track record of accommodating diverse tenants, including FedEx, office spaces, and a Pilates studio. Currently operating as a boxing gym, the property's adaptability is a key selling point. The I-1 zoning allows for a wide range of permitted uses, including medical clinics, significantly expanding the potential tenant pool. Furthermore, the property is eligible for retail permits and various special use permits, opening doors for repositioning or redevelopment to capitalize on the growing Tempe market. This presents a rare chance to acquire a well-located, versatile property with significant upside potential in a thriving area. The substantial lot size and flexible zoning make this an ideal asset for investors seeking a strong return on investment or businesses looking for a custom-designed space.

• CAP approach

  CAP return

  Valuation

  6%

  $2,566,484

  6.5%

  $2,369,062

  7%

  $2,199,843

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,358,499

  Geo Method

  $4,358,499

• Alternative Use

  Use

  Valuation

  Residential

  $1,998,392

  Hospitality

  $1,830,517

  Educational

  $1,522,968

  Medical

  $1,575,346

  Retail

  $2,369,062

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.3527

Longitude

-111.945

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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