1618 Priest DrTempe, AZ 85281

  • Industrial properties
  • 25,564 SF
For Sale
$4,750,000 View listing

Property Details for 1618 Priest Dr

Year built
2009
Construction
CONCRETE
Lot size
0.05 AC
Property size (Sq ft)
25,564 SF
Zone code
GID
Property type
Industrial properties
Property subtype
Flex space
APN
124-58-175
APU
12458175

Description

This exceptional investment opportunity presents a 21,105-square-foot flex space condominium in Tempe, Arizona's desirable Enclave on Priest development. Built in 2009, this Class B property boasts a prime location and is zoned GID (General Industrial District) by the City of Tempe. The space is ideally suited for owner-users seeking a blend of office and warehouse functionality. The building features approximately 14,773 square feet of attractive office space with 10-foot ceilings, complemented by approximately 6,332 square feet of fully climate-controlled warehouse space featuring a generous 16-foot clear height. Five grade-level dock-high doors provide efficient loading and unloading capabilities. Currently operating at 100% occupancy, the property offers a strong net-leased investment opportunity with a lease expiration date of June 1, 2025. The asking price is $4,750,000, translating to $225.07 per square foot. This property represents a rare chance to acquire a well-maintained, strategically located flex space in a thriving Tempe market. The property is offered as a leased fee interest.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $4,553,200
    Hospitality
    $4,170,707
    Educational
    $3,469,979
    Medical
    $3,589,317
    Retail
    $5,397,746
1618 Priest Dr, Tempe, Arizona

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.4113
Longitude
-111.963
CBSA code
38060
CBSA name
PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,268
-
-
$68,277
-
$82,700
$331,100
$413,800

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