Office Building for
1602 S PRIEST Drive Tempe, AZ 85281
1602 S PRIEST Drive, Tempe, AZ, 85281
$1,475,000
For Sale
$1,475,000
Office building available for sale in Tempe, AZ, totaling 4,997 square feet.
Property Size4,997 SF
Price / SF$295.18
Days on Market75
Property Features for 1602 S PRIEST Drive
General Information
- Standard status
- Active
- Size
- 4,997 SF
- Property subtype
- Business Opportunity
Listing agency
Insight Land & Investments
(602) 385-1525
Listed by
Jeremy Lovejoy · License #BR541645000
(602) 385-1525
Source
Evrealestate
Added: May 10 Updated: Jul 22 at 2:39PM Checked: Jul 22 at 2:39PM
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 Insight Land & Investments
Investment Insights
Based on property information with market context.
This for-sale office building totals 4,997 square feet. The property is offered as a commercial real estate asset suitable for office-oriented occupancy.
The building is located at 1602 S Priest Drive in Tempe, within Maricopa County, Arizona.
Additional details on interior configuration, condition, and unit layout were not provided with the listing information.
The building is located at 1602 S Priest Drive in Tempe, within Maricopa County, Arizona.
Additional details on interior configuration, condition, and unit layout were not provided with the listing information.
Key Highlights
- Office building for sale in Tempe, AZ totaling 4,997 SF
- Parking available: off‑street parking, parking lot, and paved surfaces
- Located in Maricopa County (CountyOrParish: Maricopa)
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.7k | $30.36 |
| − Vacancy | −$32.6k | −$6.53 |
| EGI | $119.1k | $23.83 |
| − OpEx | −$29.8k | −$5.96 |
| NOI | $89.3k | $17.87 |
4,997 SF · lease $30.36/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,319 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,996 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
VBFA
Civil Engineer
LeadAZ Private School
High School
Leadership Society of Arizona
Association / Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Office building available for sale in Tempe, AZ, totaling 4,997 square feet.
Where is this office building located?
The property is located at 1602 S PRIEST Drive Tempe, AZ.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Office building for sale in Tempe, AZ totaling 4,997 SF; Parking available: off‑street parking, parking lot, and paved surfaces; Located in Maricopa County (CountyOrParish: Maricopa)
