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Property profile & analytics
FOR LEASE
Commercial land
1500 North Mcclintock Dr Tempe, AZ 85288
Entity Owned
4-yr Hold
Free & Clear
Property ID
US07-0882865
For Lease
$37,465,000
1500 North Mcclintock Dr, Tempe, AZ 85288
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1969
Construction
CONCRETE
Total area
23,704 SF
Lot
9.54 ac (415,655 SF)
Zoning code
GID
APN
132-08-001F
UPID
US07-0882865
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
-
Merchantile Market Food Market Farmer's Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$37.47M
Owner & transaction history
Tempe Industrial Owner LP · 4 yrs held
Tempe Industrial Owner LP
since 2022
Last sale
$50.0M
2 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$44,885,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$37.47M
Range $33.72M – $41.21M · ±10% · vs last sale $49.97M (Mar 21 2022)
Last sale anchor
$49.97M
Mar 21 2022
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
$1,581 / 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
$43,751
Tax year 2023
Assessed value
$900,285
Assessed 2024
Previous assessed
$655,410
+37.4% YoY
Effective rate
4.86%
On assessed value
Land market value
$6,001,900
Total market value
$6,001,900
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Year built
1969
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
23,704 SF
Lot
9.54 ac (415,655 SF)
Zoning code
GID
APN
132-08-001F
UPID
US07-0882865
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.
Building & site characteristics
From public records
Year built
1969
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
9.54 ac
Current owner
From public records · entity-resolved
Tempe Industrial Owner LP
Entity
Free & Clear · 4 yrs held
Mailing address
19700 S VERMONT AVE #1, TORRANCE, CA 90502-1100
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2025
—
Tempe Industrial Owner LP
—
Deed
related
$67,950,000 · Morgan Hills Captal LLC
Mar 21, 2022
$49,969,092
Tempe Industrial Owner LP
Inland Oceans INC
Special Warranty Deed
—
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?”
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