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Property profile & analytics
OFF-MARKET
Estimated value
$34,870,000
Hospitals
1500 Ml Ave Tempe, AZ 85281-6699
Entity Owned
8-yr Hold
Free & Clear
Property ID
US07-2650699
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1944
Construction
CONCRETE
Total area
114,901 SF
Lot
9.58 ac (417,190 SF)
Zoning code
R-4
APN
133-18-040
UPID
US07-2650699
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
-
Emad Kaldawi Physician
-
Schillinger David MD Physician
-
Frutos Paul w Do Physician
-
Zollars Phillip MD Physician
-
Welsh Lisa L MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.87M
Blend (final)
Blend
$34.87M
Owner & transaction history
Tempe Exchange LLC · 8 yrs held
Tempe Exchange LLC
since 2017
4 recorded transactions
Zoning & alternative use
R-4 · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
l Planned Area Development (R1-PAD) (requires a PAD Overlay) D. Multi-Family Residential (R-2) E. Multi-Family Residential Restricted (R-3R) F. Multi-Family Residential Limited (R-3) G. Multi-Family Residential General (R-4) H. Multi-Family Residential High Density (R-5) I. Manufactured Housing Subdivision (MHS) J. Mobile Home Residence (RMH) K. Trailer Park…
Zone name
Multifamily Residential General
General category
CIVIC_INSTITUTIONAL
Zone area
562.34 ac
Source
zoning and development code
Top alternative use upside
Neighborhood: shopping center
$57.7M
+145.3%
Office building
$31.0M
+31.6%
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
MEDICAL BUILDING
$23,525,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$57,690,000
Change: +145% · Conversion: Difficult
OFFICE BUILDING
$30,950,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$34.87M
Range $31.38M – $38.36M · ±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
$303 / 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
$430,525
Tax year 2023
Assessed value
$5,624,344
Assessed 2024
Previous assessed
$5,624,344
+0.0% YoY
Effective rate
7.65%
On assessed value
Land market value
$15,741,300
Improvement market value
$18,345,631
Total market value
$34,086,931
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1944
Construction
CONCRETE
Heating
NONE
Stories
3
Total area
114,901 SF
Lot
9.58 ac (417,190 SF)
Zoning code
R-4
APN
133-18-040
UPID
US07-2650699
Jurisdiction
MARICOPA
Zoning & alternative use
R-4 · Tempe, AZZoning R-4 · permitted uses
R-4 · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
l Planned Area Development (R1-PAD) (requires a PAD Overlay) D. Multi-Family Residential (R-2) E. Multi-Family Residential Restricted (R-3R) F. Multi-Family Residential Limited (R-3) G. Multi-Family Residential General (R-4) H. Multi-Family Residential High Density (R-5) I. Manufactured Housing Subdivision (MHS) J. Mobile Home Residence (RMH) K. Trailer Park (TP) (Ord. No. 2005.46, 8-18-2005) Section 2-103 - Commercial and Mixed-Use Distri
Zone name
Multifamily Residential General
General category
CIVIC_INSTITUTIONAL
Zone area
562.34 ac
Source
zoning and development code
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$23.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$57.7M
OFFICE BUILDING
Est. value
$31.0M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1944
Construction
CONCRETE
Heating
NONE
Stories
3
Lot
9.58 ac
Current owner
From public records · entity-resolved
Tempe Exchange LLC
Entity
Free & Clear · 8 yrs held
Mailing address
1000 URBAN CTR DR STE #501, VESTAVIA, AL 35242-2225
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2017
$19,700,000
Tempe Exchange LLC
St Lukes Medical Center L
Grant Deed
—
Feb 24, 2016
—
St Lukes Medical Center LP
—
Trustees Deed
related
—
Oct 18, 2001
$14,000,000
Temple St Lukes Hospital LP
Meditrust Healthcare Corp
Grant Deed
$485,000 · Morgan Guaranty Trust Co Ny
—
—
St Lukes Medical Center LP
—
Deed Of Trust
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.
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