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    398 Mill Ave Tempe, AZ 85281

    Sponsored
    For Lease
    $18 SF/Yr

    Tempe Office Suites: 7 spaces available

    Lot size:
    19,950 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Casa Loma, located at 398 S Mill Avenue in Tempe, Arizona (zip code 85281), offers a prime opportunity for businesses seeking office space in a vibrant downtown location. This Class B building boasts a total of 19,950 square feet, with 9,945 square feet currently vacant. Multiple tenancy options are available, ranging from a minimum of 361 square feet to a maximum contiguous space of 2,900 square feet, catering to a variety of business needs and sizes. The building features convenient amenities such as elevators. Its strategic location at the intersection of 4th & Mill, within the Tempe submarket of Maricopa County, places it in the heart of a thriving business district. The C-2 zoning allows for a diverse range of commercial uses. This location benefits from its proximity to numerous tech companies, restaurants, retail shops, and ongoing development projects, including the 250 Rio commercial tower and The Arbor. The area offers a rich blend of historical charm and modern amenities, making it an attractive location for employees and clients alike. Experience the energy of Downtown Tempe, a hub of innovation and activity, with easy access to outdoor recreation and a vibrant cultural scene. This is an exceptional opportunity to establish your business in a dynamic and desirable location.

    Property Features for 398 Mill Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    19,950 SF
    Class
    B
    Total Rate
    29925

    Unit(s) available at that property

    Space
    Suite 202
    Size
    1,076 SF
    Rate per SF
    $18
    Space
    Suite 200
    Size
    1,324 SF
    Rate per SF
    $18
    Space
    Suite 301
    Size
    2,112 SF
    Rate per SF
    $18
    Space
    Suite 303/304
    Size
    1,588 SF
    Rate per SF
    $18
    Space
    Suite 203
    Size
    361 SF
    Rate per SF
    $18
    Space
    Suite 201
    Size
    2,900 SF
    Rate per SF
    $18
    Space
    Suite 204
    Size
    584 SF
    Rate per SF
    $18

    HighLights

    • ±19,950 SF building.
    • Historically significant property.
    • Charming original details including brick interior walls, wood floors, and central wooden staircase.
    • Abundant natural light with views of A‑Mountain, Mill Avenue, and Tempe Town Lake.
    • Open and bright workspaces.
    • Modern elevator.
    Property Profile Location Intelligence

    Current Use by Public Records

    American Global Manufacturing Manufacturer Rivers & Moorehead PLLC Accountant Caffe Boa Italian Restaurant Get2spec Semi Conductor Supplier

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9405542
    Latitude
    33.4267597

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    FAQs

    What type of property is this?
    Office Property / Space - Tempe Office Suites: 7 spaces available
    Where is this office property / space located?
    The property is located at 398 Mill Ave Tempe, AZ.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: ±19,950 SF building.; Historically significant property.; Charming original details including brick interior walls, wood floors, and central wooden staircase.
    Request Owner's contact information
    398 Mill Ave Tempe, AZ 85281
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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
    398 Mill Ave Tempe, AZ 85281
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