Property profile

1492 S Mill Ave Tempe, AZ 85281

FOR SALE
Medical Office Space
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Property ID
US07-3447709
64,609 SF 1.67 ac Built 1996
Last sale Oct 2017·$19,700,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 9-yr Hold Held for 9 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
Market Trends Soon

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…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$162k
Tax billed · 2023
Assessed value · 2024$2.16M
Effective rate7.48%

Value estimate

· Nov 2026
$13.41M
$12.06M – $14.75M
Submarket $/SF estimate$13.41M
NOI build-up
Gross scheduled income$1.61M
Vacancy & credit loss−$113k
Operating expenses−$601k
NOI$901k

Realmo valuation models over county records and 3 qualifying comparable sales.

Recently sold

What actually traded nearby?
$205/SF
Submarket average, outlier-cleaned · 23 recorded sales of this use type
Observed band · Q1–Q3$137 – $321
Qualifying comparables3

Cap rate analysis

How does the asset earn?
$901k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
R-4
The R-4 district provide areas for higher density housing, offering a range of residential options, including duplexes, apartments, and c...
General categoryCIVIC_INSTITUTIONAL
JurisdictionMARICOPA

Location intelligence

Which uses thrive at this corner?
Best fit: Furniture Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Furniture Store9.3
Tailor Shop9.0
Shoe Repair8.7

Location

1492 S Mill Ave Tempe, AZ 85281
County assessor Recorded deeds · 14 transfers 3 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

3 recorded sales · 18 properties nearby
Recent sales nearby
3 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1626 Priest Dr, Tempe, AZ 85281-6598 $1,378,526 May 2023 10,389 SF
1602 Priest Dr, Tempe, AZ 85281-6485 $950,000 Apr 2023 10,389 SF
910 Priest, Tempe, AZ 85281-5233 $450,000 Jan 2020 3,256 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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