424 Southern AveTempe, AZ 85282

Property Details for 424 Southern Ave

Year built

1982

Construction

CONCRETE

Lot size

0.37 AC

Property size (Sq ft)

3,872 SF

Zone code

RO

Property type

Office properties

Property subtype

Office buildings

APN

133-28-463

APU

13328463

Description

This Tempe, Arizona office building presents a compelling owner-user investment opportunity. The 3,950 square foot freestanding building, constructed in 1982 and zoned RO, is ideally situated on Southern Avenue, offering excellent visibility and convenient access to major freeways (US-60, I-10, and Loop 101). The property boasts recent upgrades, including modern solar panels for energy efficiency and a newly resurfaced roof, ensuring long-term sustainability. Its prime location provides proximity to numerous business and retail amenities. This Class B building offers a solid structure and a strategic investment opportunity for an owner-occupier seeking in-place rental income (Suite 102). The property's location between Rural Road and Mill Avenue in Tempe, Arizona, 85282, ensures high visibility and easy access to a thriving commercial area. This is a rare chance to acquire a well-maintained, energy-efficient office building in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $661,506

  6.5%

  $610,621

  7%

  $567,005

• Comparable approach

  Method

  Valuation

  Relative Method

  $596,869

  Geo Method

  $596,869

• Alternative Use

  Use

  Valuation

  Residential

  $757,170

  Hospitality

  $693,563

  Educational

  $577,036

  Medical

  $596,882

  Retail

  $897,612

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.3932

Longitude

-111.933

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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