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    Property profile & analytics
    OFF-MARKET Estimated value $13,405,000
    Medical Office Space

    1492 Ml Ave, Tempe, AZ 85281-5652

    64,609 SF 1.67 ac lot Built 1996
    Entity Owned 8-yr Hold ~ Est. High Equity
    Property ID
    US07-3447709
    Property summary
    AI-generated overview

    This exceptional Class A medical office building, totaling 59,808 square feet, is situated on the Tempe St. Luke's Hospital campus in Maricopa County, Arizona. Built in 1996, the three-story building offers multiple tenancy options, with spaces ranging from a minimum of 1,739 square feet to a maximum contiguous space of 2,427 square feet. Currently, 12,490 square feet is available for lease. The property sits on a 1.67-acre lot and provides ample patient and covered staff parking. Its convenient location on the campus of an 87-bed full-service hospital offers immediate access to a wide array of services, including diagnostic imaging, cardiovascular care, orthopedic services, women's care, and a wound center. This presents a unique opportunity for medical professionals seeking a prestigious and well-equipped space within a thriving healthcare environment. The address is 1492 S Mill Ave, Tempe, AZ 85281. This property is ideal for practices seeking high visibility and convenient access to a large patient base. The building's modern design and ample parking ensure a comfortable and efficient experience for both patients and staff.

    Property profile
    Verified
    Property type Medical Office Space
    Use group MEDICAL BUILDING
    Year built 1996
    Construction CONCRETE
    Total area 64,609 SF
    Lot 1.67 ac (72,560 SF)
    Zoning code R-4
    APN 133-18-041
    UPID US07-3447709
    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
    • Biltmore ENT, Facial Plastics & Allergy Medical Clinic Physician
    • Arizona Wound Centers Medical Clinic
    • East Valley Women's Medical Group Medical Clinic
    • Women's Health Associates Tempe Medical Clinic
    • Foot & Ankle Clinics of Arizona/Tempe Physician
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $13.41M
    Blend (final) Blend
    $13.41M
    Owner & transaction history
    Tempe Exchange LLC · 8 yrs held
    Tempe Exchange LLC
    since 2017
    7 recorded transactions
    2024
    2019
    2017
    $19.7M
    2017
    2017
    $9.7M
    2016
    2012
    $8.7M
    Zoning & alternative use
    R-4 · Tempe, AZ
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Office building $17.4M +31.6%
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