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Prime Retail Space in Tempe
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NWC Forest Ave & University Dr, Tempe, AZ 85281

Centrally located retail space near Sky Harbor and Arizona State.

Space Size2,900 SF - 3,523 SF
Property Size6,423 SF
Days on Market879

Property Features for NWC Forest Ave & University Dr

General Information

Standard status Active
Size 2,900 SF - 3,523 SF
Property subtype Retail

Building Details

Building Size 6,423 SF
Tenancy Multiple

Spaces For Lease

at NWC Forest Ave & University Dr Contact us

Available Space

Size
2,900 SF
Type
Retail
Availability
Active
Contact us

Former Restaurant Available

Size
3,523 SF
Type
Retail
Availability
Active
Contact us
Listing Agency: Phoenix Commercial Advisors
Listed By: Courtney Auther Van Loo · License #AZ
Source: Crexi
Added: Mar 15, 2024 Changed: Aug 8 Last Checked: Aug 10 at 6:40AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Phoenix Commercial Advisors

Investment Insights

Based on property information with market context.

This centrally located retail space is less than one mile from Sky Harbor International Airport. Downtown Tempe offers an urban district accessible to the Loop 202 Red Mountain Freeway via Priest Drive and Rural Road. It is home to Arizona State University, which serves as an entertainment hub, tourist attraction, and large employment corridor. Tempe attracts tourists from across the country, contributing over $1 billion to the Tempe economy in 2022 with over 4.2 million visitors. The Mill Avenue District features a daytime population with over 134,000 employees and over 57,000 residents within a 3-mile radius of the Union Tempe Project. The new State Farm Headquarters, located less than one mile north of the project, is expected to bring over 10,000 employees upon completion. Downtown Tempe is also home to employers such as Arizona State University, Chase Bank, Allstate, KPMG, Amazon.com, First Solar, U.S. Airways, Limelight, Waste Management, Microsoft, MetLife, and LifeLock. In Fall 2023, ASU enrollment was 57,144 at the Tempe Campus. Recreational areas in the vicinity include the 296-acre Tempe Papago Park and the 25-acre Tempe Beach Park. Over 100 events are held annually at Tempe Town Lake and Tempe Beach Park, drawing over 2.7 million people to the area each year. Hotels currently located within the Mill Avenue District are the Courtyard by Marriott with 160 rooms, Residence Inn by Marriott with 173 rooms, Tempe Mission Palms with 303 rooms, and a 159-room AC Hotels Marriott that is now open.

Key Highlights

  • Prime location in Downtown Tempe, the most walkable urban district in Metro Phoenix.
  • Less than one mile from Sky Harbor International Airport.
  • Proximity to Arizona State University (ASU) with high student enrollment and status as a major employer and entertainment hub.

Property Analytics

Current Use

Retail space

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

2,147
Businesses Nearby
297k
Monthly Visits Nearby

Foot Traffic Nearby

Dining 69% Groceries 15% Shops & Services 10% Hotels & Casinos 6%
Raising Cane's Chicken Fingers Dining
53,909 visits/mo 0.4 miles
Trader Joe's Groceries
43,746 visits/mo 0.4 miles
Dutch Bros. Coffee Dining
36,284 visits/mo 0.3 miles
Taco Bell Dining
21,591 visits/mo 0.4 miles
Buffalo Wild Wings Dining
20,124 visits/mo 0.4 miles

Demographics for 85281, AZ

69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value

Market

Lease Benchmarks for Tempe, AZ

$18.79 /SF/Yr
Avg Asking Price
$15–$26 /SF/Yr
Price Range
28,424 SF
Avg Space Size

Vacancy Rate% for Retail in West region

7% 2020
6.3% 2021
5.5% 2022
5.3% 2023
5.5% 2024
5.8% 2025
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Frequently Asked Questions

What type of property is this?
Retail space - Centrally located retail space near Sky Harbor and Arizona State.
Where is this retail space located?
The property is located at NWC Forest Ave & University Dr Tempe, AZ.
What are key features of this property?
This property features: Prime location in Downtown Tempe, the most walkable urban district in Metro Phoenix.; Less than one mile from Sky Harbor International Airport.; Proximity to Arizona State University (ASU) with high student enrollment and status as a major employer and entertainment hub.
(480) 223-7729 Call to check price and availability
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