Office Building Near Tempe
520 E SOUTHERN AVE Tempe, AZ 85282
520 E SOUTHERN AVE, Tempe, AZ, 85282
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For Sale
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Office building positioned near major Tempe commuter routes with close freeway and airport access.
Property Size2,896 SF
Price / SF$300.41
Days on Market78
Property Features for 520 E SOUTHERN AVE
General Information
- Standard status
- Active
- Size
- 2,896 SF
- Property subtype
- Office
Building Details
- Year Built
- 1965
Listing agency
The Menlo Group Commercial Real Estate LLC
(480) 771-3637
Listed by
Stuart Milne · License #AZ SA634760000
Source
Crexi
Added: May 5 Updated: Jul 20 at 5:45PM Checked: Jul 21 at 11:21AM
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 The Menlo Group Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
Located at 520 E Southern Ave, Tempe, the office building offers approximately 2,896 square feet and presents adaptive reuse potential, with the City of Tempe having updated zoning ordinances to encourage adaptive reuse.
The property is positioned for convenient regional access, with freeway proximity to both US-60 (Superstition Freeway) and I-10, each less than 2 miles away. Phoenix Sky Harbor International Airport is about 10–12 minutes from the site, and the location is near the major intersection of Southern & Rural Rd, a primary Tempe commuter artery.
The surrounding area reflects a steady, professional day-to-night environment, including over 52% college-educated residents in ZIP 85282 and a housing mix of owner-occupied homes (44%) alongside high-end rentals, with median age reported around 33–34.
The property is positioned for convenient regional access, with freeway proximity to both US-60 (Superstition Freeway) and I-10, each less than 2 miles away. Phoenix Sky Harbor International Airport is about 10–12 minutes from the site, and the location is near the major intersection of Southern & Rural Rd, a primary Tempe commuter artery.
The surrounding area reflects a steady, professional day-to-night environment, including over 52% college-educated residents in ZIP 85282 and a housing mix of owner-occupied homes (44%) alongside high-end rentals, with median age reported around 33–34.
Key Highlights
- Office building built in 1965
- Less than 2 miles to both US‑60 (Superstition Freeway) and I‑10 for Valley‑wide access
- Phoenix Sky Harbor International Airport is about 10–12 minutes away
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 | $87.9k | $30.36 |
| − Vacancy | −$18.9k | −$6.53 |
| EGI | $69.0k | $23.83 |
| − OpEx | −$17.3k | −$5.96 |
| NOI | $51.8k | $17.87 |
2,896 SF · lease $30.36/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$739.5K
$647.1K – $862.7K
NOI $51,764 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$910.7K
$796.9K – $1.06M
NOI $63,748 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Credit Repair Tempe ...
Financial Advisor
Faculty Association
(Bike/Boat/Book/etc) Store
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FAQs
What type of property is this?
Office building - Office building positioned near major Tempe commuter routes with close freeway and airport access.
Where is this office building located?
The property is located at 520 E SOUTHERN AVE Tempe, AZ.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Office building built in 1965; Less than 2 miles to both US‑60 (Superstition Freeway) and I‑10 for Valley‑wide access; Phoenix Sky Harbor International Airport is about 10–12 minutes away
