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    8240 River Pkwy Tempe, AZ 85284
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    8240 River Pkwy Tempe, AZ 85284

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    • Office properties & Spaces
    • 135,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 8240 River Pkwy

    Property size
    135,000 SF
    Property type
    Office properties & Spaces
    Property subtype
    Industrial properties

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.897
    Latitude
    33.3425

    Comparable in this City

    • Value Estimation by Request
      135,000 SF

      8240 River Pkwy

      Flex space • 135,000 SF
      8240 River Pkwy, Tempe, AZ 85284
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    • Value Estimation
      $19,900,000
      27,026 SF

      8905 Beck Ave

      LIGHT INDUSTRIAL • 27,026 SF
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    • Value Estimation
      $11,075,000
      14,600 SF

      1302 Drivers Way

      LIGHT INDUSTRIAL • 14,600 SF
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    • Value Estimation by Request
      99,148 SF

      685 La Vieve Ln

      LIGHT INDUSTRIAL • 99,148 SF
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    • Value Estimation by Request
      93,288 SF

      8350 Kyrene Rd

      LIGHT INDUSTRIAL • 93,288 SF
      8350 Kyrene Rd, Tempe, AZ 85284-2121
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    • Value Estimation
      $31,685,000
      44,728 SF

      1430 Auto Dr

      LIGHT INDUSTRIAL • 44,728 SF
      1430 Auto Dr, Tempe, AZ 85284-1034
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    Similar Nearby for Sale

    • Contact for pricing
      135,000 SF

      Tempe Flex/Industrial/Office Property

      135,000 SF flex, industrial, and office property for sale.
      8240 S River Pkwy, Tempe, AZ 85284
      View Details
    • Contact for pricing

      Office/Warehouse Flex Space Available

      Flex space featuring office and warehouse areas.
      1121 W Warner Rd, Tempe, AZ 85284
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    • $3,495,000
      12,000 SF

      Tempe Condo Suite with Showroom

      12,000 SF condo suite featuring office, showroom, and warehouse.
      1705-1725 W Ruby Dr, Tempe, AZ 85284
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    • Contact for pricing

      Office and Warehouse Space Available

      Office and warehouse space featuring reception, conference room, and offices.
      1241 W Warner Rd, Tempe, AZ 85284
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    • $1,999,500
      5,800 SF

      Modern Tempe Office Building

      5,800 SF move-in ready office building in Tempe, Arizona.
      9885 S Priest Dr, Tempe, AZ 85284
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    Similar Nearby for Lease

    • $1.35 SF/Yr

      Versatile Industrial/Office/Showroom Space Available

      Divisible industrial/office/showroom space with high ceilings and ample parking.
      7965 S Priest Dr, Tempe, AZ 85284
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    • Contact for pricing
      3,959 SF

      Tempe Flex Office Space Available

      Two-story flex office building with convenient highway access.
      1711 W Greentree Dr, Tempe, AZ 85284
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    • $13 SF/Yr

      Tempe Flex Space For Lease

      22,217 SF flex space ideal for call or operation center.
      1120 W Warner Rd, Tempe, AZ 85284
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    • $1.09 SF/Yr
      6,867 SF

      Tempe Flex Space Available

      Flex space featuring private offices, open area, and break room.
      1231 W Warner Rd, Tempe, AZ 85284
      View Details
    • $1.20 SF/Yr
      3,955 SF

      Industrial Space in Tempe, Arizona

      Industrial space for lease in Tempe's Desert Vista Commerce Center.
      7890 Hardy Dr, Tempe, AZ 85284
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    • Contact for pricing
      6,000 SF

      Tempe Warehouse with Secured Yard

      3,000 SF Tempe warehouse with secured yard for lease.
      9111 S Hardy Dr, Tempe, AZ 85284
      View Details
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    Tempe, AZ 85284
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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