Office Condo with Private
For Sale
$500,000
8631 S Priest Dr. #102, Tempe, AZ 85284
Functional administrative suite with reception, conference, private office, open workspace, kitchen, and dedicated parking.
Property Size1,295 SF
Price / SF$386.10
Days on Market47
Property Features for 8631 S Priest Dr. #102
General Information
Standard status
Active
Size
1,295 SF
Class
B
Total Parking Spaces
1
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Building Size
1,295 SF
Listed By:
Justin Horwitz, SIOR
(480) 220-2674
Source:
Svndesertcommercial
Added: Sep 1
Changed: Oct 9
Last Checked: Oct 16 at 7:57AM
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 Justin Horwitz, SIOR
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Investment Insights
Based on property information with market context.
This 1,295 SF office condominium at 8631 S. Priest Dr. #102 provides a practical administrative layout for an owner-user. The interior includes a reception area, conference room, private office component, open work area, kitchen, and private restroom, supporting a range of day-to-day office functions.
The property is in Tempe near the intersection of Priest Dr. and Warner Rd., with convenient access to I-10. The surrounding area includes numerous retail amenities and the Emerald Design Center. Parking includes one covered, reserved stall along with additional first-come, first-served spaces.
The property is in Tempe near the intersection of Priest Dr. and Warner Rd., with convenient access to I-10. The surrounding area includes numerous retail amenities and the Emerald Design Center. Parking includes one covered, reserved stall along with additional first-come, first-served spaces.
Key Highlights
- 1,295 SF office condo in Tempe
- Reception area, conference room, private office, and open workspace
- Kitchen and private restroom included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,147
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,940
$462.9K
Cap Rate 7%
$330,671
$330.7K
Cap Rate 9%
$257,189
$257.2K
Market Conditions
NOI Build-Up for 1,295 SF
Gross rent
$39.3K $30.36/SF
− Vacancy
−$8.5K −$6.53/SF
EGI
$30.9K $23.83/SF
− OpEx
−$7.7K −$5.96/SF
NOI
$23.1K $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 Rate 5%
$462,940
Cap Rate 7%
$330,671
Cap Rate 9%
$257,189
Alternative Uses
Best Use
Office B
$330.7K
$289.3K – $385.8K
NOI $23,147 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$407.2K
$356.3K – $475.1K
NOI $28,506 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Explore this area
Business Placement
Demographics for 85284, AZ
18,638
Population
7,589
Households
2.5
Avg Household Size
45
Median Age
69%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
2,389
Density / Sq Mi
$154,663
Median Household Income
$64,288
Median Earnings
$2,162
Median Rent
$646,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office units - Functional administrative suite with reception, conference, private office, open workspace, kitchen, and dedicated parking.
Where is this office units located?
The property is located at 8631 S Priest Dr. #102 Tempe, AZ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,295 SF office condo in Tempe; Reception area, conference room, private office, and open workspace; Kitchen and private restroom included
