Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1000 Priest Dr Tempe, AZ 85281-5238

    • Industrial properties
    • 51,510 SF
    • 2.12 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1544687
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Someset ATE / Industrial Manufacturer

    Property Details for 1000 Priest Dr

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    2.12 lot acres
    Property size
    51,510 SF
    Zone code
    GID
    Property type
    Industrial properties
    APN
    124-60-017A
    APU
    12460017A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $101,733,000
      Market price range: $10.4M - $131M
      AI Estimate
      $101,733,000
      Market price range: $10.4M - $131M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $75,180,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.962
    Latitude
    33.418
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $50,654
    $0.00
    $0.00
    $991,188
    -
    $700,500
    $5,306,700
    $6,007,200

    Comparable in this City

    • Value Estimation by Request
      64,072 SF

      1605 University Dr

      Flex space • 64,072 SF
      1605 University Dr, Tempe, AZ 85281
      View Details
    • Value Estimation by Request
      199,835 SF

      1705 University Dr

      Distribution properties • 199,835 SF
      1705 University Dr, Tempe, AZ 85281
      View Details
    • Value Estimation by Request
      20,150 SF

      1415 University Dr

      Distribution properties • 20,150 SF
      1415 University Dr, Tempe, AZ 85281
      View Details
    • Value Estimation
      $23,825,000
      15,251 SF

      2110 Medtronic Way

      INDUSTRIAL (GENERAL) • 15,251 SF
      2110 Medtronic Way, Tempe, AZ 85281-5140
      View Details
    • Value Estimation by Request
      44,477 SF

      2343 Medtronic Way

      INDUSTRIAL (GENERAL) • 44,477 SF
      2343 Medtronic Way, Tempe, AZ 85281-5133
      View Details
    • Value Estimation
      $16,740,000
      6,600 SF

      119 Ml Ave

      INDUSTRIAL LOFT BUILDING • 6,600 SF
      119 Ml Ave, Tempe, AZ 85281
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,750 SF

      Tempe Warehouse with NNN Lease

      Warehouse for sale with a new 10-year absolute NNN lease.
      2149 E 5Th St, Tempe, AZ 85281
      View Details
    • Contact for pricing
      44,490 SF

      Tempe Warehouse with Secured Yard

      2.69-acre lot near Phoenix Sky Harbor International Airport.
      2605 W 1St St, Tempe, AZ 85281
      View Details
    • Contact for pricing
      23,261 SF

      Tempe Multi-Tenant Office/Industrial Suites

      Multi-tenant office and industrial suites available for sale in Tempe, AZ.
      637 S 48Th St, Tempe, AZ 85281
      View Details
    • Contact for pricing
      45,944 SF

      Industrial Warehouse Space Available

      45,944 SF industrial property with secured parking.
      1604 W 3Rd St, Tempe, AZ 85281
      View Details
    • Contact for pricing
      7,676 SF

      Tempe Flex Space Opportunity

      7,676 SF flex space in Smith Innovation Hub.
      205-209 S Mcclintock Dr, Tempe, AZ 85281
      View Details
    • Contact for pricing
      2,555 SF

      Tempe Convenience Store For Sale

      Convenience store with high visibility near Downtown Tempe and ASU.
      802 S Hardy Dr, Tempe, AZ 85281
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Space For Lease

      Industrial space available for lease in Tempe, Arizona.
      1505 E Weber Dr, Tempe, AZ 85281
      View Details
    • Contact for pricing

      Industrial Single Tenant Space

      Industrial space available for rent, single tenant, 5,916 SqFt.
      410 S Perry Ln, Tempe, AZ 85281
      View Details
    • $1.15 SF/Yr
      28,804 SF

      Industrial Space For Lease

      Industrial property available for lease, south of University Ave.
      1701 W 10Th St, Tempe, AZ 85281
      View Details
    • $1.40 SF/Yr
      28,567 SF

      Industrial Space For Lease

      Industrial space available for lease near University and SR-143.
      947 S 48Th St, Tempe, AZ 85281
      View Details
    • $1.20 SF/Yr
      26,000 SF

      East Valley Industrial Space

      Industrial space available for lease in East Valley, 26000 sqft.
      2604 W 1St St, Tempe, AZ 85281
      View Details
    • Contact for pricing

      Tempe Office/Industrial Suites For Lease

      Multi-tenant office and industrial suites available near Phoenix Airport.
      627 S 48Th St, Tempe, AZ 85281
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1000 Priest Dr
    Tempe, AZ 85281-5238
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!