Commercial Real Estate Market in Tempe, AZ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
586 active listings and 4,332 off-market properties in Tempe, AZ. Commercial property asks $46/SF to buy and $19.83/SF/Yr to lease.
Market Trends
Tempe, AZ spans 41.0 square miles in Maricopa County, Arizona. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Tempe, AZ asks $16.69/SF/Yr to lease. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in West region
Retail
Retail vacancy in Tempe, AZ runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Tempe, AZ runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Tempe, AZ runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 49.5%
- Industrial 25.1%
- Residential 10.7%
- Commercial 9.4%
- Mixed use 5.3%
Largest Zones share of zoned land by district
Single Family Residential
General Industrial District
Agricultural
Single Family Residential
Multifamily Residential Limited
General Industrial District (GID)
General Industrial District is designed to provide, office uses, warehousing, wholesaling, assembling and manufacturing of building materials, machinery and other commodities to provide employment centers and production.
Market overview
Demographics & Economy
Tempe, AZ has 185,943 residents in 86,351 households. Density runs 4,532 people per square mile. Median household income here is $79,704 and median gross rent $1,655 a month.
185,943
Population
86,351
Households
2.2
Avg Household Size
30
Median Age
48%
College-Educated
93%
High-School Grad
41 sq mi
ZIP Area
4,532
Density / Sq Mi
$79,704
Median Household Income
$42,618
Median Earnings
$1,655
Median Rent
$405,325
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Scottsdale | — | $28.69 |
| Guadalupe | — | — |
| Mesa | — | $16.57 |
Commercial property in Tempe, AZ asks $46/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Tempe?
Commercial property in Tempe, AZ asks an average of $46 per square foot. The 5 most recent recorded sales traded at a median of $312/SF.
How much does it cost to lease commercial space in Tempe?
Asking lease rates in Tempe, AZ average $19.83 per square foot per year. Office asks $16.69/SF/Yr as of Q2 26, down from $22.67/SF/Yr in Q1 26.
Where does Realmo's Tempe market data come from?
Realmo compiles Tempe, AZ figures from 7 recent recorded sales, 184 active sale listings, 402 active lease listings, 4,332 tracked off-market properties, the current Tempe zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 184 active for-sale and 402 active for-lease listings in Tempe, AZ. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 19,807 zoned acres across 28 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
