Freestanding Commercial
For Sale
$3,040,000
3345 S Rural Road, Tempe, AZ 85282
Owner-user freestanding building on direct Rural Road frontage with flexible layout for office, medical, or institutional uses.
Property Size9,810 SF
Lot Size0.67 Acres
Price / SF$309.89
Days on Market82
Property Features for 3345 S Rural Road
General Information
Standard status
Active
Size
9,810 SF
Lot size
0.67 Acres
Property subtype
Commercial
Zoning
C-G
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$30,550
Building Details
Building Size
9,810 SF
Year Built
1989
Buildings
1
Listing Agency:
R.O.I. Properties
(602) 319-1326
Listed By:
Beth Jo Zeitzer · License #SA697209000
(602) 319-1326
Source:
Aznewhorizonrealty
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 21 at 12:08PM
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 R.O.I. Properties
Investment Insights
Based on property information with market context.
3345 S Rural Rd in Tempe, AZ presents an owner-user freestanding commercial building totaling approximately 8,730 SF on a site of about 0.667 acres (29,490 SF). The property is offered with a flexible building layout and recent renovations, supporting a range of occupancy formats. The improvements and configuration are positioned to accommodate users seeking a long-term presence with options for operational continuity.
The site features direct frontage along Rural Road, with convenient access to Southern Avenue, Interstate 10, Loop 101, and Loop 202 for day-to-day travel and client servicing across the Phoenix metropolitan area. The surrounding area is described as a vibrant mixed-use environment with established residential neighborhoods, educational institutions, retail amenities, and employment centers, and the property is noted as being in proximity to Arizona State University and the broader Tempe employment base.
For tenants, buyers, and operators, the combination of freestanding control, renovation history, and adaptable interior layout makes the building suitable for educational, office, medical, nonprofit, religious, or other institutional uses. With substantial land area in place, an owner-operator also has room to plan for site-related enhancements or future operational needs while maintaining a functional, front-facing presence along a major arterial corridor.
The site features direct frontage along Rural Road, with convenient access to Southern Avenue, Interstate 10, Loop 101, and Loop 202 for day-to-day travel and client servicing across the Phoenix metropolitan area. The surrounding area is described as a vibrant mixed-use environment with established residential neighborhoods, educational institutions, retail amenities, and employment centers, and the property is noted as being in proximity to Arizona State University and the broader Tempe employment base.
For tenants, buyers, and operators, the combination of freestanding control, renovation history, and adaptable interior layout makes the building suitable for educational, office, medical, nonprofit, religious, or other institutional uses. With substantial land area in place, an owner-operator also has room to plan for site-related enhancements or future operational needs while maintaining a functional, front-facing presence along a major arterial corridor.
Key Highlights
- Approximately 0.667‑acre site with direct frontage on S Rural Road and convenient access to Southern Ave, I‑10, Loop 101, and Loop 202
- 8,730 SF freestanding commercial building built in 1989 on a 29,490 SF lot
- Flexible building layout suited for educational, office, medical, nonprofit, religious, or institutional occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$175,348
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,506,960
$3.5M
Cap Rate 7%
$2,504,971
$2.5M
Cap Rate 9%
$1,948,311
$1.9M
Market Conditions
NOI Build-Up for 9,810 SF
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.
Gross rent
$297.8K $30.36/SF
− Vacancy
−$64.0K −$6.53/SF
EGI
$233.8K $23.83/SF
− OpEx
−$58.4K −$5.96/SF
NOI
$175.3K $17.87/SF
Area
Tempe, AZ
Vacancy
21.50%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,506,960
Cap Rate 7%
$2,504,971
Cap Rate 9%
$1,948,311
Alternative Uses
Best Use
Office B
$2.50M
$2.19M – $2.92M
NOI $175,348 @ 7.0% cap · market cap 5.77%
Second Best
Healthcare Medical
$2.11M
$1.85M – $2.46M
NOI $147,797 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,942 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Explore this area
Business Placement
Demographics for 85282, AZ
52,351
Population
25,667
Households
2
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
11.1 sq mi
ZIP Area
4,716
Density / Sq Mi
$79,084
Median Household Income
$43,863
Median Earnings
$1,627
Median Rent
$370,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Owner-user freestanding building on direct Rural Road frontage with flexible layout for office, medical, or institutional uses.
Where is this office building located?
The property is located at 3345 S Rural Road Tempe, AZ.
What is the asking price?
The asking price for this property is $3,040,000.
What are key features of this property?
This property features: Approximately 0.667‑acre site with direct frontage on S Rural Road and convenient access to Southern Ave, I‑10, Loop 101, and Loop 202; 8,730 SF freestanding commercial building built in 1989 on a 29,490 SF lot; Flexible building layout suited for educational, office, medical, nonprofit, religious, or institutional occupancy
