Newly Remodeled NNN Office
7665 S Research Dr Tempe, AZ 85284
7665 S Research Dr, Tempe, AZ, 85284
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For Sale
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Leasehold in a NNN office property within ASU Research Park, with HVAC replacement and interior remodel.
Property Size9,969 SF
Price / SF$526.63
Days on Market198
Property Features for 7665 S Research Dr
General Information
- Standard status
- Active
- Size
- 9,969 SF
- Property subtype
- OFFICE
Listing agency
SRS Real Estate Partners | Phoenix
(602) 980-3553
Listed by
Ed Beeh · License #CA 01732226
(602) 980-3553
Source
Moodyscre
Added: Jan 6 Updated: Jul 22 at 10:48PM Checked: Jul 22 at 10:48PM
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 SRS Real Estate Partners | Phoenix
Investment Insights
Based on property information with market context.
SRS Real Estate Partners presents the opportunity to acquire a leasehold interest in a newly leased NNN investment property located within the Arizona State University Research Park in Tempe, Arizona. The current tenant, Action Behavior Centers Therapy LLC, recently executed a new 10-year lease with two additional 5-year renewal options.
The lease includes 2% annual rental increases throughout the primary term and options. Between 2024 and 2025, $1.06M+ was invested in landlord and tenant improvements, including an HVAC replacement and a full interior remodel to Action Behavior Centers’ brand specifications.
The offering is structured with limited landlord responsibilities, designed for lower-management ownership. The property is listed for sale at 7665 S Research Dr, Tempe, AZ 85284.
The lease includes 2% annual rental increases throughout the primary term and options. Between 2024 and 2025, $1.06M+ was invested in landlord and tenant improvements, including an HVAC replacement and a full interior remodel to Action Behavior Centers’ brand specifications.
The offering is structured with limited landlord responsibilities, designed for lower-management ownership. The property is listed for sale at 7665 S Research Dr, Tempe, AZ 85284.
Key Highlights
- Leasehold interest in a newly leased NNN office property in Arizona State University Research Park (Tempe, AZ)
- Action Behavior Centers Therapy LLC recently signed a new 10‑year lease with two (2) additional 5‑year renewal options
- Lease includes 2% annual rental increases throughout the primary term and options
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 | $302.7k | $30.36 |
| − Vacancy | −$65.1k | −$6.53 |
| EGI | $237.6k | $23.83 |
| − OpEx | −$59.4k | −$5.96 |
| NOI | $178.2k | $17.87 |
9,969 SF · lease $30.36/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.55M
$2.23M – $2.97M
NOI $178,190 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.13M
$2.74M – $3.66M
NOI $219,442 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Acacia University
High School
Cognia, Inc.
Charitable Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Leasehold in a NNN office property within ASU Research Park, with HVAC replacement and interior remodel.
Where is this office building located?
The property is located at 7665 S Research Dr Tempe, AZ.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Leasehold interest in a newly leased NNN office property in Arizona State University Research Park (Tempe, AZ); Action Behavior Centers Therapy LLC recently signed a new 10‑year lease with two (2) additional 5‑year renewal options; Lease includes 2% annual rental increases throughout the primary term and options
