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    800 University Dr Tempe, AZ 85281

    For Lease
    Contact for pricing

    250,000 SF Retail Opportunity

    Lot size:
    250,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 250,000 square foot retail space presents a unique investment opportunity within the 355-acre Novus development in Maricopa County. Situated at the intersection of Rural Road and University Drive, this single-tenant property benefits from a high-traffic location, averaging 47,000 vehicles daily on Rural Road and 30,000 on University Drive. The development is a master-planned, mixed-use project, ultimately encompassing nearly 10 million square feet of urban space. This includes 4.5 million square feet of office space and 4,100 market-rate multi-family units, creating a vibrant and densely populated surrounding community. The location at the convergence of Scottsdale, Tempe, and Phoenix offers unparalleled access to a large consumer base. Furthermore, the property's proximity to a new world-class athletics district and four major highways ensures exceptional visibility and accessibility. This is a chance to establish a significant brand presence within a rapidly growing area known for its innovation and design, attracting cutting-edge concepts and best-in-class operators. The entire development is designed with sustainability and best-in-class planning in mind, promising a long-term, stable investment. The sheer scale of the project and its strategic location make this a truly exceptional opportunity.

    Property Features for 800 University Dr

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    250,000 SF

    Unit(s) available at that property

    Space
    Available Space
    Size
    250,000 SF

    HighLights

    • 250,000 SF retail space available in a single‑tenant building.
    • Located on a 355‑acre master‑planned mixed‑use development in Maricopa County.
    • High‑traffic location with Rural Rd averaging 47,000 vehicles per day and University Dr averaging 30,000 vehicles per day.
    • Part of a new world‑class athletics district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ceramics Grad. Studio University

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon 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
    -111.9271342
    Latitude
    33.4221891

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    FAQs

    What type of property is this?
    Restaurant - 250,000 SF Retail Opportunity
    Where is this restaurant located?
    The property is located at 800 University Dr Tempe, AZ.
    What are key features of this property?
    This property features: 250,000 SF retail space available in a single-tenant building.; Located on a 355-acre master-planned mixed-use development in Maricopa County.; High-traffic location with Rural Rd averaging 47,000 vehicles per day and University Dr averaging 30,000 vehicles per day.
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    800 University Dr Tempe, AZ 85281
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    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
    800 University Dr Tempe, AZ 85281
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