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    2121 Mill Ave Tempe, AZ 85282

    Sponsored
    For Lease
    $18 SF/Yr

    Mid-century modern office suites, Tempe location

    Lot size:
    16,528 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional two-story, 16,528-square-foot office building, constructed in 1968 and extensively renovated in 2020, presents a unique investment opportunity in the highly desirable Tempe submarket. Located at 2121 on Mill, with prominent Mill Avenue frontage, this Class B property boasts a classic mid-century modern design by renowned architect Thomas Montgomery. The building features 18 suites ranging from 550 to 1,452 square feet, many with private bathrooms, catering to a variety of business needs. Currently, 4,528 square feet are available for lease across multiple suites. The property offers a mix of small and moderate-sized spaces, perfect for professional services or creative businesses. Amenities include a gated courtyard with new landscaping, upgraded air conditioning, new common area flooring, new signage, ample surface and covered parking (86 spaces total, a 5.2/1000 ratio), and a single elevator. The building also benefits from a video camera system with real-time monitoring. Its strategic location near Arizona State University and downtown Tempe provides easy access to a vibrant 24/7 live-work-play environment. Convenient freeway access to Highways 60, 10, and 101, and proximity to Sky Harbor International Airport (a 5-minute drive via SR-143), further enhance its appeal. The property sits on a 38,921-square-foot lot and is zoned R4 Tempe (Maricopa County, APN 133-23-020F). Annual property taxes are $1 per square foot. The maximum contiguous space available is 2,590 square feet.

    Property Features for 2121 Mill Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,528 SF
    Class
    B
    Total Rate
    24792

    Building Details

    Year Built/Renovated
    1968/2020
    Stories
    2

    Unit(s) available at that property

    Space
    216
    Size
    850 SF
    Rate per SF
    $18
    Space
    204
    Size
    1,357 SF
    Rate per SF
    $19

    HighLights

    • 16,528 SF Class B office building in Tempe, AZ, with 4,528 SF of vacant space.
    • Multi‑tenant property featuring 18 suites ranging from 550 SF to 1,452 SF, ideal for executive or creative office users.
    • Located on Mill Avenue with prominent frontage, offering high visibility and convenient access to ASU, Downtown Tempe, and major freeways.
    • Recently renovated (2020) with upgrades including landscaping, signage, common area flooring, AC, and a gated courtyard.
    • Building amenities include one elevator, 86 parking spaces (5.2/1000 SF ratio), and a video security system.
    Property Profile Location Intelligence

    Current Use by Public Records

    valor 4 vet Veterinary Care CCR Transport Trucking Company Nikao Performance and Rehab ... Physical Therapist Taylored Counseling Substance ... Counselor Right Path Counselor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Daycare Center 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
    -111.9394405
    Latitude
    33.4056163

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    FAQs

    What type of property is this?
    Office space - Mid-century modern office suites, Tempe location
    Where is this office space located?
    The property is located at 2121 Mill Ave Tempe, AZ.
    What is the lease rate?
    The lease rate is $18-$19 SF/Yr.
    What are key features of this property?
    This property features: 16,528 SF Class B office building in Tempe, AZ, with 4,528 SF of vacant space.; Multi-tenant property featuring 18 suites ranging from 550 SF to 1,452 SF, ideal for executive or creative office users.; Located on Mill Avenue with prominent frontage, offering high visibility and convenient access to ASU, Downtown Tempe, and major freeways.
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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
    2121 Mill Ave Tempe, AZ 85282
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