Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1302 W 23Rd St Tempe, AZ 85282
    Back to Search
    Property profile & analytics

    1302 W 23Rd St Tempe, AZ 85282

    View on Map
    • Warehouses
    • 31,248 SF
    • 1.91 lot acres
    For Lease
    $1.27 SF/Yr
    View Listing →
    Tempe Warehouse with Truck Access For Lease
    $1.27 SF/Yr
    1,092 SF

    Tempe Warehouse with Truck Access

    1,092 SF warehouse with great truck access near airport.

    1302 W 23rd St, Tempe, AZ
    View Listing
    Property ID
    US07-0744668
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ironic Metalworks LLC / Metal Fabrication Plant / Factory
    • K & D Machining / Industrial Manufacturer
    • 420 Tobacco LLC / Distribution Center / Logistics Company
    • Black Mountain Holding Co / Holding Company
    • Bemore Building Services / Construction Company / General Contractor

    Property Details for 1302 W 23Rd St

    Year built
    1978
    Construction
    CONCRETE
    Lot size
    1.91 lot acres
    Property size
    31,248 SF
    Zone code
    GID
    Property type
    Warehouses
    APN
    123-35-011B
    APU
    12335011B

    Description

    This Tempe, Arizona property, located at 1302 W 23rd St, zip code 85282, offers exceptional office and warehouse space for lease. The building, constructed in 1978, boasts a total of 31,248 square feet, with multiple tenancy options available. Currently, there are 2,732 square feet of vacant space ready for immediate occupancy. Individual suites range from a minimum of 1,092 square feet to a maximum contiguous space of 1,640 square feet, providing flexibility for businesses of various sizes. The property is classified as both office and industrial, catering to a diverse range of potential tenants. The building features 3-phase electrical service with amperage ranging from 100A to 200A. Situated in the Tempe Southwest Industrial submarket of Maricopa County, this location offers convenient access to major transportation routes and amenities. The property is ideal for businesses seeking a blend of office and warehouse functionality in a thriving Arizona location. Contact us today to schedule a viewing and explore the possibilities of establishing your business in this prime Tempe location. This is a multi-tenant building offering a variety of suite sizes to accommodate your specific needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.959
    Latitude
    33.4042
    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
    $30,852
    $0.00
    $0.00
    $557,436
    -
    $606,000
    $2,772,400
    $3,378,400

    Comparable in this City

    • Value Estimation by Request
      2,190 SF

      3250 Fair Ln

      Distribution properties • 2,190 SF
      3250 Fair Ln, Tempe, AZ 85282
      View Details
    • Value Estimation
      $510,000
      1,979 SF

      325 Southern Ave

      WAREHOUSE, STORAGE • 1,979 SF
      325 Southern Ave, Tempe, AZ 85282-4501
      View Details
    • Value Estimation
      $15,855,000
      92,546 SF

      2404 Wilson St

      WAREHOUSE, STORAGE • 92,546 SF
      2404 Wilson St, Tempe, AZ 85282-2028
      View Details
    • Value Estimation by Request
      68,031 SF

      3214 Fair Ln

      Distribution properties • 68,031 SF
      3214 Fair Ln, Tempe, AZ 85282
      View Details
    • Value Estimation
      $5,130,000
      31,410 SF

      4205 Ml Ave

      MINI-WAREHOUSE, STORAGE • 31,410 SF
      4205 Ml Ave, Tempe, AZ 85282-4998
      View Details
    • Value Estimation
      $1,555,000
      6,000 SF

      1135 Broadway Rd

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      1135 Broadway Rd, Tempe, AZ 85282-1225
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Tempe Industrial/Warehouse/Distribution Building

      40,971 SF building in Tempe, suitable for industrial use.
      2980 South Priest Dr, Tempe, AZ 85282
      View Details
    • Contact for pricing

      Stabilized Tempe Industrial Asset

      Long-term tenants, anchored by ACME Aerospace, near I-10 & US-60.
      528 W 21St St, Tempe, AZ 85282
      View Details
    • Contact for pricing
      7,791 SF

      Tempe Freestanding Building For Sale

      7,791 SF single-tenant building near ASU campus.
      1123 W Broadway Rd, Tempe, AZ 85282
      View Details
    • Contact for pricing
      15,070 SF

      Tempe Industrial Flex Building

      Industrial flex building with data center space for sale.
      1005 W Geneva Dr, Tempe, AZ 85282
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      41,000 SF

      Tempe Industrial Space Available

      Manufacturing/Warehouse Units, Tempe, AZ
      2123 Priest Dr, Tempe, AZ 85282
      View Details
    • $16 SF/Yr
      11,111 SF

      Tempe Industrial Flex Space Available

      Versatile Tempe warehouse/flex space for lease.
      5024 Ash Ave, Tempe, AZ 85282
      View Details
    • Contact for pricing

      Industrial Space Available For Lease

      Industrial, flex, and office spaces for lease at 48th Street.
      2223 S 48Th St, Tempe, AZ 85282
      View Details
    • $1.13 SF/Yr
      22,537 SF

      Industrial Building with Large Yard

      Industrial building for lease featuring a large yard and warehouse.
      602 W 22Nd St, Tempe, AZ 85282
      View Details
    • Contact for pricing
      1,530 SF

      Industrial Space Available For Rent

      Industrial property with warehouse space, available December 1, 2025.
      2219 S 48Th St, Tempe, AZ 85282
      View Details
    • Contact for pricing
      7,072 SF

      Tempe Industrial Space Available

      Industrial space for rent with convenient access to major routes.
      2315 W Fairmont Dr, Tempe, AZ 85282
      View Details
    View Listing
    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.
    1302 W 23Rd St
    Tempe, AZ 85282
    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

    Thank You for Inquiry
    1302 W 23Rd St, Tempe, AZ, 85282
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!