Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    903-909 N Miller Rd Tempe, AZ 85288

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Ready for immediate development in a robust submarket.

    Type:Land
    Added:
    Mar 7, 2026
    Days on Market:
    48
    Last Refresh:
    Mar 7 at 7:05 pm

    Property Features for 903-909 N Miller Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    Properties For Sale

    at 903-909 N Miller Rd Contact us

    We can help!

    Listing Contact
    Paul Borgesen
    Paul Borgesen

    Listing agent Paul Borgesen

    Listing office Transwestern | Phoenix

    Listing date Mar 7, 2026

    Source Transwestern

    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 Transwestern | Phoenix

    Overview

    Entitled Land Parcel For Sale

    This premier parcel presents an investment opportunity within an economically robust submarket. The site is fully entitled and has PAD approval, making it ready for immediate development without zoning complications.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9175357
    Latitude
    33.4389868

    Nearby Similar for Sale

    • $850,000

      Remodeled Duplex Near Arizona State

      Fully remodeled duplex near ASU, ideal for investors or owner-occupants.
      1610 S COLLEGE Avenue, Tempe, AZ 85281
      View Details
    • $1,235,000

      Turnkey Tempe Duplex Investment

      Updated duplex with modern amenities and strong tenant appeal.
      117 W 10TH Street, Tempe, AZ 85281
      View Details
    • $950,000

      Renovated Income Property in Tempe

      Three-unit income property with extensive renovations in Tempe, Arizona.
      1244 N Rose Street, Tempe, AZ 85288
      View Details
    • $700,000

      Renovated Duplex in Central Tempe

      Turnkey duplex with strong rental appeal in central Tempe.
      1248 E Harry Street, Tempe, AZ 85288
      View Details
    • $1,180,000

      Historic Craftsman Bungalow in Tempe

      Iconic 1918 home with guest apartments in Maple Ash.
      948 S ASH Avenue, Tempe, AZ 85281
      View Details
    • $2,300,000
      4,414 SF

      Tempe Garden-Style Apartment Complex

      Garden-style 10-plex near ASU Main Campus in Tempe.
      425,427 W 5th Street, Tempe, AZ 85281
      View Details
    • $1,420,000

      Tempe Multifamily Near ASU Campus

      Seven-unit apartment property near ASU with remodeled units.
      1219 S Farmer Avenue, Tempe, AZ 85281
      View Details
    • $605,000

      Tempe Duplex with Large Yards

      Tempe duplex featuring 3-bedroom units and large backyards.
      1021 N HAROLD Street, Tempe, AZ 85288
      View Details
    • $2,450,000

      Remodeled Tempe Multi-Family Investment

      Four remodeled units near ASU in the Maple & Ash District.
      117 W 10TH Street, Tempe, AZ 85281
      View Details
    • $875,000
      2,157 SF

      Stand-Alone Medical Office Building

      2,157 SF medical office building in prime location.
      2040 S Rural Rd, Tempe, AZ 58282
      View Details
    • $875,000
      2,157 SF

      Stand-Alone Medical Office Building

      2,157 SF medical office near Arizona State University.
      2040 S Rural Rd, Tempe, AZ 58282
      View Details
    • $1,649,500

      Tempe Redevelopment Opportunity

      Prime redevelopment opportunity in downtown Tempe with immediate cash flow.
      508 S FARMER Avenue, Tempe, AZ 85281
      View Details

    FAQs

    What type of property is this?
    Land - Ready for immediate development in a robust submarket.
    Where is this land located?
    The property is located at 903-909 N Miller Rd Tempe, AZ.
    What are key features of this property?
    This property features: Premier parcel ready for immediate development; Fully entitled and PAD approved for immediate development; Free from zoning complications
    (602) 296-6377
    We can help!
    Listing Contact
    Paul Borgesen
    Paul Borgesen
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!