Back to Search
Property profile & analytics
FOR LEASE
Warehouses
1233 W Geneva Dr Tempe, AZ 85282
Entity Owned
2-yr Hold
Free & Clear
Property ID
US07-0017928
For Lease
1 / 6
$2,595,000
1233 W Geneva Dr, Tempe, AZ 85282
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Construction
CONCRETE
Total area
12,057 SF
Lot
0.86 ac (37,500 SF)
Zoning code
GID
APN
123-40-024
UPID
US07-0017928
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Glide Installations Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.60M
CAP Approach
CAP
$2.05M
Comparable Approach
Comparable
$2.23M
Blend (final)
Blend
$2.60M
Owner & transaction history
Vaf I 1233 West Geneva LLC · 2 yrs held
Vaf I 1233 West Geneva LLC
since 2024
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.7M
+67.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,595,000
ML approach
$2,595,000
CAP Approach
CAP Return
Estimation
6%
$2,220,000
6.5%
$2,050,000
7%
$1,905,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,175,000
Current use
OFFICE BUILDING
$3,650,000
Change: +68% · Conversion: Difficult
Blend value · Realmo final
$2.60M
Range $2.34M – $2.85M · ±10% · vs last sale $2.60M (Apr 22 2024)
Last sale anchor
$2.60M
Apr 22 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$215 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,310
Tax year 2023
Assessed value
$263,802
Assessed 2024
Previous assessed
$263,802
+0.0% YoY
Effective rate
6.18%
On assessed value
Land market value
$315,200
Improvement market value
$1,283,600
Total market value
$1,598,800
Applied tax rate
31,600.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1981
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
12,057 SF
Lot
0.86 ac (37,500 SF)
Zoning code
GID
APN
123-40-024
UPID
US07-0017928
Jurisdiction
MARICOPA
Zoning & alternative use
GID · Tempe, AZ
Zoning GID · permitted uses
GID · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$3.7M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Vaf I 1233 West Geneva LLC
Entity
Free & Clear · 2 yrs held
Mailing address
14241 DALLAS PKWY STE #1050, DALLAS, TX 75254-2960
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2024
—
Vaf I 1219 West Geneva LLC
—
Deed
related
$69,100,000 · Sdf Reit Holdco LLC
Apr 22, 2024
$2,595,000
Vaf I 1233 West Geneva LLC
Dct Az 2004 Rn Portfolio L LLC
Special Warranty Deed
—
Oct 6, 2004
$981,324
Dct-az 2004 Rn Portfolio L LLC
Cabot Industrial Venture B LLC
Grant Deed
—
Sep 19, 2001
$9,079,960
Cabot Ind Prop LP
Brs-san Diego Commerce Ctr LLC
Grant Deed
—
Oct 14, 1999
—
Brs-san Diego Commerce Center
Spt Real Estate Corp
Grant Deed
$24,107,513 · Wells Fargo Bank
May 13, 1997
$25,702,075
Spt Real Estate Corp E
Presidio Associates L P
Grant Deed
—
Feb 13, 1996
$19,493,319
Presidio Associates L P
Cmd Southwest INC
Grant Deed
$15,584,000 · Redevelopment Agency San Berna
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
