Retail Suite Near Light
1878 E APACHE Boulevard, Tempe, AZ 85281
For Sale
Contact for pricing
Available space in a multi-tenant center surrounded by varied businesses and established residential and institutional activity.
Property Size8,710 SF
Price / SF$0.22
Days on Market50
Property Features for 1878 E APACHE Boulevard
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Listing Agency:
LRA Real Estate Group, LLC
(480) 526-5644
Listed By:
Don T Mortensen · License #BR529840000
(602) 451-3684
Source:
Virginiagee
Added: Sep 19
Changed: Nov 3
Last Checked: Nov 6 at 8:18AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail space is the remaining available suite within a shopping center on E Apache Boulevard. The center includes a barber shop, convenience store, vintage clothing retailer, and Indian restaurant, creating a varied neighboring business mix.
The property benefits from both vehicle and pedestrian activity. Nearby light rail service, Arizona State University, and several upscale apartment complexes contribute to the surrounding flow of people and traffic. The suite offers a retail setting within an established commercial center in Tempe.
The property benefits from both vehicle and pedestrian activity. Nearby light rail service, Arizona State University, and several upscale apartment complexes contribute to the surrounding flow of people and traffic. The suite offers a retail setting within an established commercial center in Tempe.
Key Highlights
- Last available suite in the shopping center
- Neighboring businesses include a barber shop, convenience store, vintage clothing store, and Indian restaurant
- Located on E Apache Boulevard in Tempe
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,515
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,030,300
$2.0M
Cap Rate 7%
$1,450,214
$1.5M
Cap Rate 9%
$1,127,944
$1.1M
Market Conditions
NOI Build-Up for 8,710 SF
Gross rent
$156.8K $18.00/SF
− Vacancy
−$11.8K −$1.35/SF
EGI
$145.0K $16.65/SF
− OpEx
−$43.5K −$5.00/SF
NOI
$101.5K $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%
$2,030,300
Cap Rate 7%
$1,450,214
Cap Rate 9%
$1,127,944
Alternative Uses
Best Use
Retail
$1.45M
$1.27M – $1.69M
NOI $101,515 @ 7.0% cap · market cap 5,205.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,728 @ 7.0% cap · market cap 9,832.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,533
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Home Improvements & Furnishings 12%
Electronics 3%
7-Eleven
Shops & Services
4,155 visits/mo
0.4 miles
CubeSmart Self Storage
Shops & Services
1,998 visits/mo
0.4 miles
U-Haul
Shops & Services
1,378 visits/mo
0.1 miles
Ferguson
Home Improvements & Furnishings
1,341 visits/mo
0.3 miles
CubeSmart Self Storage
Shops & Services
670 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
Properties on Market for Retail space in Tempe
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Available space in a multi-tenant center surrounded by varied businesses and established residential and institutional activity.
Where is this retail space located?
The property is located at 1878 E APACHE Boulevard Tempe, AZ.
What are key features of this property?
This property features: Last available suite in the shopping center; Neighboring businesses include a barber shop, convenience store, vintage clothing store, and Indian restaurant; Located on E Apache Boulevard in Tempe
