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    Perry Ln Tempe, AZ 85281

    Sponsored
    For Sale
    $7,500,000

    Prime Tempe Hotel, NNN Lease, High ROI

    Property size:
    81,357 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a four-story, 81,357-square-foot Marriott Hotel in Tempe, Arizona. Situated on a 2.66-acre lot at the intersection of E Rio Salado Pkwy and S Perry Ln, this single-tenant, absolute NNN-leased property boasts a remaining lease term of 95.4 years, commencing August 1, 2021, and expiring March 30, 2120. The asking price is $7,500,000, representing a price per square foot of $92.19 and a 3.53% cap rate with a current NOI of $265,000. The property benefits from its strategic location less than 1.5 miles from Arizona State University, directly across from the Tempe Marketplace, and near Loop 202 and Loop 101 freeways. This location provides exceptional visibility and access to a large and affluent population. The property is part of a larger mixed-use development, further enhancing its value and appeal. The lease includes 2% annual rent increases and zero landlord responsibilities, making this a truly passive income investment. This is a rare opportunity to acquire a high-quality, long-term investment property in a thriving market with strong demographics and significant growth potential. The property's proximity to major transportation arteries, retail centers, and entertainment venues ensures consistent high traffic and visibility. This is an ideal investment for those seeking a stable, long-term, and low-maintenance income stream.

    Property Features for 0 Perry Ln

    General Information

    Property type
    Individual retail properties
    Square Feet
    81,357 SF
    Lot Size
    115,870 SF

    Building Details

    Stories
    4

    HighLights

    • Ground lease for a brand‑new, 99‑year Marriott flag hotel.
    • Prime location near Arizona State University, Tempe Marketplace, and the Chicago Cubs spring training facility.
    • Exceptional location on Rio Salado Parkway, easily accessible from Loop 101 and Loop 202.
    • Absolute NNN lease; zero landlord responsibilities, ideal for 1031 exchange.
    • Part of a larger mixed‑use development with six freestanding retail buildings.
    • 2.66‑acre lot, four‑story hotel with 148 rooms and approximately 81,357 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Freestanding property

    Map

    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9047344
    Latitude
    33.429184

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    FAQs

    What type of property is this?
    Individual retail property - Prime Tempe Hotel, NNN Lease, High ROI
    Where is this individual retail property located?
    The property is located at Perry Ln Tempe, AZ.
    What is the asking price?
    The asking price for this property is $7,500,000.
    What are key features of this property?
    This property features: Ground lease for a brand-new, 99-year Marriott flag hotel.; Prime location near Arizona State University, Tempe Marketplace, and the Chicago Cubs spring training facility.; Exceptional location on Rio Salado Parkway, easily accessible from Loop 101 and Loop 202.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Perry Ln Tempe, AZ 85281
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