Retail Space with
New
For Sale
Contact for pricing
1135 E Apache Boulevard 106, Tempe, AZ 85281
Restaurant infrastructure includes a grease trap and venting, with patio use available along the retail frontage.
Property Size242,457 SF
Price / SF$0.01
Days on Market2
Property Features for 1135 E Apache Boulevard 106
General Information
Standard status
Active
Size
242,457 SF
Property subtype
Comm/Industry Lease
Amenities
outdoor patio space
grease trap
restaurant venting
Building Details
Tenancy
Multi
Listing Agency:
LRA Real Estate Group, LLC
(480) 526-5644
Listed By:
Don T Mortensen · License #BR529840000
(602) 451-3684
Source:
Juliebradfeldt
Added: Oct 16
Last Checked: Oct 16 at 2:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LRA Real Estate Group, LLC
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Investment Insights
Based on property information with market context.
An 1,800-square-foot retail space at 1135 E Apache Boulevard, Suite 106, is part of Park Place Luxury Apartments in Tempe. Patio use is available along the full retail frontage. The space also has a grease trap and restaurant venting, supporting food-service buildout options.
The property is within walking distance of Arizona State University and is located at the light rail stop described as nearest to the campus. The surrounding apartment development provides an additional residential setting for the retail space.
The property is within walking distance of Arizona State University and is located at the light rail stop described as nearest to the campus. The surrounding apartment development provides an additional residential setting for the retail space.
Key Highlights
- 1,800 SF of retail space within Park Place Luxury Apartments
- Outdoor patio use available along the full retail frontage
- Grease trap and restaurant venting available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,825,836
Suggested Prices Based on Cap Rates
Cap Rate 5%
$56,516,720
$56.5M
Cap Rate 7%
$40,369,086
$40.4M
Cap Rate 9%
$31,398,178
$31.4M
Market Conditions
NOI Build-Up for 242,457 SF
Gross rent
$4.36M $18.00/SF
− Vacancy
−$327.3K −$1.35/SF
EGI
$4.04M $16.65/SF
− OpEx
−$1.21M −$5.00/SF
NOI
$2.83M $11.66/SF
Area
Tempe, AZ
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$56,516,720
Cap Rate 7%
$40,369,086
Cap Rate 9%
$31,398,178
Alternative Uses
Best Use
Retail
$40.37M
$35.32M – $47.10M
NOI $2,825,836 @ 7.0% cap · market cap 85,631.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$76.24M
$66.71M – $88.95M
NOI $5,337,064 @ 7.0% cap · market cap 161,729.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,695
Businesses Nearby
252k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 19%
Groceries 17%
Hotels & Casinos 3%
Safeway
Groceries
43,619 visits/mo
0.5 miles
QuikTrip
Shops & Services
36,955 visits/mo
0.5 miles
Dutch Bros. Coffee
Dining
36,284 visits/mo
0.4 miles
SONIC Drive In
Dining
22,475 visits/mo
0.4 miles
Starbucks
Dining
21,820 visits/mo
0.5 miles
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Restaurant infrastructure includes a grease trap and venting, with patio use available along the retail frontage.
Where is this retail space located?
The property is located at 1135 E Apache Boulevard 106 Tempe, AZ.
What are key features of this property?
This property features: 1,800 SF of retail space within Park Place Luxury Apartments; Outdoor patio use available along the full retail frontage; Grease trap and restaurant venting available
