2700 Sunland DrTempe, AZ 85282

Property Details for 2700 Sunland Dr

Year built

1999

Construction

CONCRETE

Lot size

20.95 AC

Property size (Sq ft)

86,709 SF

Zone code

GID

Property type

Office properties

Property subtype

Office buildings

APN

123-33-031

APU

12333031

Description

This exceptional 25.4-acre Tempe, Arizona property presents a significant infill redevelopment opportunity. Located at the southwest corner of Priest Drive and Alameda Drive, the site offers approximately 462,000 square feet of existing improvements, including five vacant office buildings totaling approximately 421,000 square feet, two parking structures, and a 41,000 square foot industrial building. The property is zoned MU-25, allowing for a variety of potential uses, including industrial, data center, multifamily, or business park development. Its prime location in Tempe, Maricopa County, offers high visibility with frontage on Priest Drive, experiencing over 35,000 cars daily, and excellent access to major freeway systems. The site's adjacency to the Broadway Industrial Park, a highly desirable location with low vacancy rates, further enhances its value. Initial assessments suggest a potential 150 MW power capacity, making it particularly suitable for data center or energy-intensive developments. This rare opportunity allows for demolition of existing structures and redevelopment to meet current market demands in a location with high barriers to entry for new construction. The rectangular shape of the parcel adds to its development potential. The property's address includes 2700 S Sunland Dr, 2925 S Sunland Dr, 2750 S Priest Dr, and 2980 S Priest Dr, all in Tempe, AZ 85282.

• CAP approach

  CAP return

  Valuation

  6%

  $13,492,503

  6.5%

  $12,454,618

  7%

  $11,565,003

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,366,192

  Geo Method

  $13,366,192

• Alternative Use

  Use

  Valuation

  Residential

  $15,443,727

  Hospitality

  $14,146,371

  Educational

  $11,769,614

  Medical

  $12,174,389

  Retail

  $18,308,288

Location Insight

City

Tempe

County

Maricopa

State

Arizona

Latitude

33.3983

Longitude

-111.963

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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