Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1616 Ruby Dr Tempe, AZ 85284-1049
    Back to Search
    Property profile & analytics

    1616 Ruby Dr, Tempe, AZ 85284-1049

    View on Map
    • Individual retail properties
    • 107,488 SF
    • 12.00 lot acres
    Off-Market
    Last Sale Dec 22, 2025
    $26,000,000
    Property ID
    US07-1099788
    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
    $27,805,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ButterflyRow Beauty | Alicia Payton / Hair Salon
    • Life Time / Gym & Fitness Center
    • LifeSpa / Hair Salon

    Property Details for 1616 Ruby Dr

    Year built
    2002
    Construction
    CONCRETE
    Lot size
    12.00 lot acres
    Zone code
    GID
    Property type
    Individual retail properties
    APN
    301-54-859
    APU
    30154859

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 22, 2025 $26,000,000 Nhnr Hold Co 33 LLC Ltf Real Estate Company INC Special Warranty Deed —
    Mar 6, 2025 — Ltf Real Estate Company INC — Deed · related $3M · Wilmington Savings Fund Society Fsb
    May 3, 2021 — Ltf Real Estate Company INC — Deed · related $3M · Wilmington Savings Fund Society Fsb
    Sep 1, 2015 — Ltf Real Estate Company INC Ltf Cmbs I LLC Warranty Deed —
    Jan 30, 2007 — Ltf Cmbs I LLC Ltf Real Estate Co INC Warranty Deed $105M · Goldman Sachs Commercial Mortgage Capita
    Jun 1, 2005 — Life Time Fitness INC Fca Real Estate Holdings LLC Warranty Deed · related —
    Jan 13, 2003 — Fca Real Estate Life Time Fitness INC Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $29,607,000
      Market price range: $20.2M - $41.2M
      AI Estimate
      $29,607,000
      Market price range: $20.2M - $41.2M

    • Alternative Use

      Use
      Estimation
      GYM, HEALTH SPA
      $29,280,000
      Current use
      OFFICE BUILDING
      $25,090,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.965
    Latitude
    33.341
    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
    $361,142
    $0.00
    $0.00
    $4,568,108
    -
    $5,936,400
    $21,749,105
    $27,685,505

    Comparable in this City

    • Value Estimation by Request
      11,020 SF

      9020 Mcclintock Dr

      BARBER, HAIR SALON
      9020 Mcclintock Dr, Tempe, AZ 85284-4516
      View Details
    • Value Estimation
      $10,280,000
      38,114 SF

      1727 Rnch Rd

      GYM, HEALTH SPA
      1727 Rnch Rd, Tempe, AZ 85284-2019
      View Details
    • Value Estimation
      $7,075,000
      34,808 SF

      7810 Priest Dr

      GYM, HEALTH SPA
      7810 Priest Dr, Tempe, AZ 85284-1197
      View Details
    • Value Estimation
      $1,440,000
      4,240 SF

      1701 Warner Rd

      GYM, HEALTH SPA
      1701 Warner Rd, Tempe, AZ 85284-4529
      View Details
    • Value Estimation
      $1,685,000
      10,760 SF

      8425 Emerald Dr Ste, Unit 103

      RETAIL STORES (PERSONAL SERVICES)
      8425 Emerald Dr Ste, Tempe, AZ 85284-1065
      View Details
    • Value Estimation
      $3,015,000
      5,528 SF

      787 Elliot Rd

      FINANCIAL BUILDING
      787 Elliot Rd, Tempe, AZ 85284-1582
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,000 SF

      Tempe Condo Suite with Showroom

      12,000 SF condo suite featuring office, showroom, and warehouse.
      1705-1725 W Ruby Dr, Tempe, AZ 85284
      View Details
    • Contact for pricing
      5,546 SF

      Retail Building Near IKEA

      5,546 SF retail building with attractive patio and landscaping.
      8425 S Emerald Dr, Tempe, AZ 85284
      View Details
    • Contact for pricing
      24,888 SF

      Tempe Retail Showroom For Sale

      Retail showroom with truckwell and ample parking in Tempe, AZ.
      9959 S Priest Dr, Tempe, AZ 85284
      View Details
    • Contact for pricing

      Fry's Shopping Center Retail Space

      Retail space available in Tempe's established, affluent neighborhood.
      9900 S Rural Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      5,634 SF

      Tempe Retail Space For Sale

      Retail space available in Tempe, Arizona, 5.20% CAP.
      9895 S Priest Dr, Tempe, AZ 85284
      View Details
    • $4,280,000

      Tempe Crossing Drive-Thru Investment

      Fully leased, two-tenant property with drive-thru in Tempe, Arizona.
      9895 S Priest Dr, Tempe, AZ 85284
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,193 SF

      Corner Retail Space Available

      Retail space with high traffic and signage opportunities.
      315 W Elliot Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,008 SF

      Retail Space in Affluent Area

      Retail space in a densely populated, affluent neighborhood.
      9920 W Ray Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Tempe, Arizona

      Retail space for rent in high-traffic Tempe location.
      Nec Priest Dr & Warner Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      3,500 SF

      Restaurant/Retail Space Near Freeway

      Restaurant or retail space with high visibility and traffic.
      1815 E Elliot Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,193 SF

      Hard Corner Retail Space Available

      Retail space with excellent signage and high traffic volume.
      7707 S Kyrene Rd, Tempe, AZ 85284
      View Details
    • $1.35 SF/Yr
      5,853 SF

      Versatile Industrial/Office/Showroom Space Available

      Divisible industrial/office/showroom space with high ceilings and ample parking.
      7965 S Priest Dr, Tempe, AZ 85284
      View Details
    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.
    1616 Ruby Dr
    Tempe, AZ 85284-1049
    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
    1616 Ruby Dr, Tempe, AZ, 85284
    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!