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Property profile & analytics
OFF-MARKET
Estimated value
$1,905,000
Office buildings
505 University Dr Tempe, AZ 85281-8265
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US07-1508274
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2019
Construction
CONCRETE
Total area
1,985 SF
Lot
0.26 ac (11,512 SF)
Zoning code
CSS
APN
124-69-045
UPID
US07-1508274
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gadzooks Enchiladas and Soup Restaurant
-
Tumbleweed Tempe Youth Resource Center Family Recreation Center Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.91M
Owner & transaction history
Eq University LLC · 1 yrs held
Eq University LLC
since 2025
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
CSS · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+155.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,365,000
Change: +155% · Conversion: Difficult
Blend value · Realmo final
$1.91M
Range $1.71M – $2.10M · ±10% · vs last sale $2.65M (Mar 14 2025)
Last sale anchor
$2.65M
Mar 14 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$960 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,320
Tax year 2023
Assessed value
$80,169
Assessed 2024
Previous assessed
$68,187
+17.6% YoY
Effective rate
10.38%
On assessed value
Land market value
$126,000
Improvement market value
$359,872
Total market value
$485,872
Applied tax rate
31,600.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2019
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
1,985 SF
Lot
0.26 ac (11,512 SF)
Zoning code
CSS
APN
124-69-045
UPID
US07-1508274
Jurisdiction
MARICOPA
Zoning & alternative use
CSS · Tempe, AZ
Zoning CSS · permitted uses
CSS · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$1.4M
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Eq University LLC
Entity
Mailing address
1320 MANZANITA LN, RENO, NV 89509-8202
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
$2,653,300
Eq University LLC
Tempe Commercial LLC
Special Warranty Deed
—
Feb 22, 2019
$2,330,000
Tempe Commercial LLC
Kobold 505 W University Ll
Grant Deed
—
Sep 20, 2017
—
Kobold 505 W University LLC
—
Trustees Deed
related
$975,000 · Metro Phoenix Bk
Aug 29, 2017
$890,000
Kobold 505 W University LLC
Tumbleweed Center For Youth Develop
Special Warranty Deed
$467,500 · Prime Plus Mortgages LLC
Jul 15, 2013
$500,000
Tumbleweed Center Of Youth Dev
505 LLC
Grant Deed
$400,000 · 505 LLC
Mar 27, 2009
—
Diana Pike
Pike,rodney
Quit Claim Deed
related
—
Mar 27, 2009
$592,721
505 LLC
Pike,diana
Grant Deed
—
Sep 18, 1990
$190,000
Rodney B Pike
Pike
Grant Deed
related
$143,712 · Seller
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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