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    1414 Broadway Rd Tempe, AZ 85282

    Sponsored
    For Lease
    $21 SF/Yr

    Modern Tempe Offices, Flexible Spaces

    Lot size:
    61,073 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    MAC6 Broadway East offers a diverse range of executive office and coworking spaces in Tempe, Arizona. This Class B building, totaling 61,073 square feet, underwent renovations in 2015 and is conveniently located near major freeways including the I-10, US-60, Loop-202, and SR-143, providing easy access to Sky Harbor Airport. The property features a minimum divisible space of 799 square feet and a maximum contiguous space of 3,385 square feet, with 10,811 square feet currently vacant. Multiple tenancy options are available to suit various business needs. Building amenities include a state-of-the-art on-site gym with a personal trainer, a large community conference room perfect for meetings and presentations, and a tenant amenity lounge offering complimentary coffee and beverages. The building boasts ample parking with a ratio of 5 spaces per 1,000 square feet. Elevators are available for convenient access to all floors. The property is situated in the Tempe submarket of Maricopa County, at the intersection of Priest and Broadway Road. Monument signage is planned for the near future. This is an excellent opportunity for businesses seeking modern, well-equipped office space in a prime Tempe location.

    Property Features for 1414 Broadway Rd

    General Information

    Property type
    Coworking space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    61,073 SF
    Class
    B
    Total Rate
    106877.75

    Building Details

    Year Built/Renovated
    1974/2015

    Spaces For Lease

    at 1414 Broadway Rd, Tempe, AZ 85282 Contact us
    Unit Suite 127

    $23 /Mo

    Size
    3,385 SF
    Contact us
    Unit Suite 119

    $23 /Mo

    Size
    2,955 SF
    Contact us
    Unit Suite 149

    $23 /Mo

    Size
    799 SF
    Contact us
    Unit Suite 117

    $23 /Mo

    Size
    2,362 SF
    Contact us
    Unit Suite 142

    $21 /Mo

    Size
    1,310 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Drew Sampson
    Drew Sampson

    Learn more

    Property Insight Report

    HighLights

    • Class B office building totaling 61,073 square feet in Tempe, Maricopa County.
    • Multiple tenancy options available, ranging from 799 to 3,385 contiguous square feet; 10,811 square feet currently vacant.
    • Built in 1974, renovated in 2015, offering executive office and coworking spaces.
    • Convenient location near Sky Harbor Airport with easy freeway access (I‑10, US‑60, Loop 202, SR‑143).
    • Amenities include an on‑site gym with a personal trainer, a large conference room, and a tenant lounge with complimentary coffee and beverages.
    • Parking ratio of 5 spaces per 1,000 square feet; building features elevators.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Fractionals Business Management Consultant Concordia Office Park Business Park Arizona Homeschool Networking ... Tutoring Service Roark Consulting, LLC Structural Engineer

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Auto Repair Shop Big Box & Wholesale Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9618655
    Latitude
    33.4080912

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    FAQs

    What type of property is this?
    Coworking space - Modern Tempe Offices, Flexible Spaces
    Where is this coworking space located?
    The property is located at 1414 Broadway Rd Tempe, AZ.
    What is the lease rate?
    The lease rate is $21-$23 SF/Yr.
    What are key features of this property?
    This property features: Class B office building totaling 61,073 square feet in Tempe, Maricopa County.; Multiple tenancy options available, ranging from 799 to 3,385 contiguous square feet; 10,811 square feet currently vacant.; Built in 1974, renovated in 2015, offering executive office and coworking spaces.
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    1414 Broadway Rd Tempe, AZ 85282
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    Tempe, AZ 85282
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1414 Broadway Rd Tempe, AZ 85282
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    We can help!
    Listing Contact
    Drew Sampson
    Drew Sampson
    Real Estate License ID: SA679525000
    Learn more
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