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Property profile & analytics
FOR LEASE
Office buildings
1250 W Washington St, Tempe, AZ 85281
Individually Owned
19-yr Hold
Free & Clear
Property ID
US07-1796458
For Lease
1 / 2
$42,425,000
1250 W Washington St, Tempe, AZ 85281
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
STEEL FRAME
Total area
97,520 SF
Lot
3.43 ac (149,308 SF)
Zoning code
GID
APN
124-19-030
UPID
US07-1796458
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
-
Mindful Therapy Group - Tempe Medical Clinic
-
Daylight Healing Mental Health and Wellness Medical Clinic
-
Digital Intelligence Systems, LLC Employment Agency
-
Marathon Petroleum Company, Lp Corporate Office
-
Western Refining Terminals, LLC Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$42.62M
Blend (final)
Blend
$42.43M
Owner & transaction history
Owner Name Unavailable · 19 yrs held
Owner Name Unavailable
since 2006
1 recorded transaction
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$68.0M
+150.0%
Auto repair, garage
$67.0M
+146.5%
Retail stores
$51.4M
+88.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$27,195,000
Current use
RESTAURANT
$67,980,000
Change: +150% · Conversion: Moderate
AUTO REPAIR, GARAGE
$67,035,000
Change: +146% · Conversion: Difficult
RETAIL STORES
$51,355,000
Change: +89% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$48,965,000
Change: +80% · Conversion: Difficult
Blend value · Realmo final
$42.43M
Range $38.18M – $46.67M · ±10%
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
$435 / 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
Assessed value
$3,979,125
Assessed 2024
Previous assessed
$3,349,875
+18.8% YoY
Land market value
$1,386,000
Improvement market value
$25,141,500
Total market value
$26,527,500
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
4
Total area
97,520 SF
Lot
3.43 ac (149,308 SF)
Zoning code
GID
APN
124-19-030
UPID
US07-1796458
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
OFFICE BUILDING Current
Est. value
$27.2M
RESTAURANT
Est. value
$68.0M
AUTO REPAIR, GARAGE
Est. value
$67.0M
RETAIL STORES
Est. value
$51.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$49.0M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2006
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
4
Lot
3.43 ac
Current owner
From public records · entity-resolved
Owner Name Unavailable
Individual
Free & Clear · 19 yrs held
Mailing address
801 GRAND AVE, DES MOINES, IA 50309-8000
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2006
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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