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    1331 E Rio Salado Pkwy Tempe, AZ 85281

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    For Sale
    Contact for pricing

    New office building in Tempe's Novus Innovation Corridor.

    Property size:
    147,495 SF
    Lot size:
    26.08 Acres

    Property Features for 1331 E Rio Salado Pkwy

    General Information

    Size
    147,495 SF
    Lot size
    26.08 Acres

    Source: Colliers | Phoenix Agent Brian Ackerman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    New Build Trophy Office Asset

    This is a new build office asset completed in September 2023, located in the North Tempe submarket. The property features three stories with flexible floorplates suitable for various tenant sizes. It is situated in a rare opportunity zone among Tempe Town Lake properties and includes significant acreage with frontage on Rio Salado Parkway. The property is located inside the Novus Innovation Corridor, a 355-acre mixed-use development that combines office, residential, retail, and hospitality options adjacent to ASU. It is across the street from South Pier, where Phase 1 construction is underway for 724 apartment units and 26,000 square feet of retail. Subsequent phases of South Pier include plans for more than 2,500 residential units, two luxury hotels, a two-acre public park, and a multi-acre entertainment district. The property offers 147,495 square feet of space.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9599989
    Latitude
    33.4294503

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    FAQs

    What type of property is this?
    Office building - New office building in Tempe's Novus Innovation Corridor.
    Where is this office building located?
    The property is located at 1331 E Rio Salado Pkwy Tempe, AZ.
    What are key features of this property?
    This property features: - Below replacement cost for a new (September 2023) trophy asset; - Located in a rare opportunity zone near Tempe Town Lake; - Significant acreage with frontage on Rio Salado Parkway
    (602) 418-8821
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1331 E Rio Salado Pkwy Tempe, AZ 85281
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