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    3116 Mill Ave Tempe, AZ 85282

    Sponsored
    For Lease
    Contact for pricing

    High-traffic Tempe retail space; 6,550 sq ft available.

    Lot size:
    11,262 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Mill Plaza, a newly remodeled retail center in the heart of Tempe, Arizona, presents a unique opportunity for businesses seeking high visibility and strong foot traffic. This 11,262 square foot property, zoned for commercial use within the City of Tempe, Maricopa County, offers multiple tenancy options. Currently, 6,550 square feet of retail space is available, divisible into units ranging from a minimum of 1,653 square feet to a maximum contiguous space of 4,897 square feet. The center benefits from its strategic location near Arizona State University's main campus (just two miles north), attracting a large student population of 50,000. Furthermore, a dense workforce of 300,000 people resides within a five-mile radius, ensuring consistent daytime traffic. The property is anchored by a newly constructed Fry's Fuel and a newly remodeled Fry's grocery store, a significant draw for consumers. High traffic counts exceeding 60,000 vehicles daily on the intersecting roadways further enhance the property's visibility and accessibility. This prime location offers exceptional potential for businesses seeking to establish a strong presence in a thriving Tempe market. The property consists of a single building with multiple suites.

    Property Features for 3116 Mill Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,262 SF

    Unit(s) available at that property

    Space
    Suite 3214
    Size
    1,653 SF
    Space
    Suite 3224-28
    Size
    4,897 SF

    HighLights

    • Retail property totaling 11,262 square feet.
    • Multiple tenancy with 6,550 square feet currently vacant.
    • Divisible spaces ranging from 1,653 to 4,897 contiguous square feet.
    • Located in Tempe, Maricopa County, with Commercial zoning.
    • Strong location near ASU and high traffic counts exceeding 60,000 vehicles daily.
    Property Profile Location Intelligence

    Current Use by Public Records

    HARRINGTON PLANNING + DESIGN Construction Company DreamHed Records Recording Studio Pro Edge Sports ... Construction Company Gary D. Stromberg ... Occupational Therapist IT Partners Computer Consultant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9403789
    Latitude
    33.3948799

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    FAQs

    What type of property is this?
    Retail property - High-traffic Tempe retail space; 6,550 sq ft available.
    Where is this retail property located?
    The property is located at 3116 Mill Ave Tempe, AZ.
    What are key features of this property?
    This property features: Retail property totaling 11,262 square feet.; Multiple tenancy with 6,550 square feet currently vacant.; Divisible spaces ranging from 1,653 to 4,897 contiguous square feet.
    Request Owner's contact information
    3116 Mill Ave Tempe, AZ 85282
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    Tempe, AZ 85282
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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
    3116 Mill Ave Tempe, AZ 85282
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