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    1721 Warner Rd Tempe, AZ 85284-4555

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    1721 Warner Rd Tempe, AZ 85284-4555

    View on Map
    • Strip malls
    • 24,809 SF
    • 7.71 lot acres
    Off-Market
    Last Sale Jun 30, 2023
    $20,000,000
    Property ID
    US07-0632567
    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
    $19,965,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Maskadores Taco Shop / Restaurant
    • Eva Maurice / Counselor
    • Cobblestone Veterinary Care / Veterinary Clinic
    • AAA Paint and Supply-Benjamin Moore / Hardware & Home Improvement / Building Supply
    • Dr. Lee Acupuncture / Physician / Alternative Medicine Practice

    Property Details for 1721 Warner Rd

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    7.71 lot acres
    Property size
    24,809 SF
    Zone code
    PCC-1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    308-02-075
    APU
    30802075

    Description

    This exceptional Class A retail opportunity is located in the highly desirable Cobblestone Village shopping center at 1721 E Warner Rd, Tempe, AZ 85284, situated at the prominent intersection of Warner Rd & McClintock Dr. The property offers multiple tenancy options, with two spaces currently available, totaling 1,168 square feet to 3,770 square feet. This vibrant shopping center boasts a substantial 764 parking spaces, ensuring ample convenience for customers. The property is zoned PCC by the City of Tempe and is located in Maricopa County. The strategic location within this established shopping center provides excellent visibility and accessibility, making it an ideal location for a variety of retail businesses. The property's Class A designation reflects its high-quality construction and modern amenities. This is a rare opportunity to secure a prime retail space in a thriving Tempe location. The available space offers significant potential for growth and success in a bustling commercial area. Contact us today to learn more about this exceptional retail opportunity and to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $19,685,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $20,447,000
      Market price range: $6.33M - $20.4M
      AI Estimate
      $19,682,000
      Market price range: $5.81M - $19.7M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $12,455,000
      Current use
      RESTAURANT
      $17,295,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $17,055,000
      Change: +37% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $13,115,000
      Change: +5% Conversion: Difficult
      RETAIL STORES
      $13,065,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.913
    Latitude
    33.3335
    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
    $142,472
    $0.00
    $0.00
    $2,104,978
    -
    $6,039,000
    $6,718,443
    $12,757,443

    Comparable in this City

    • Value Estimation
      $9,690,000
      13,716 SF

      9920 Rural Rd

      SHOPPING CENTER, STRIP CENTER • 13,716 SF
      9920 Rural Rd, Tempe, AZ 85284-4100
      View Details
    • Value Estimation
      $1,205,000
      4,928 SF

      440 Warner Rd

      SHOPPING CENTER, STRIP CENTER • 4,928 SF
      440 Warner Rd, Tempe, AZ 85284-2966
      View Details
    • Value Estimation
      $18,365,000
      26,488 SF

      1006 Warner Rd

      SHOPPING CENTER, STRIP CENTER • 26,488 SF
      1006 Warner Rd, Tempe, AZ 85284-3226
      View Details
    • Value Estimation
      $3,725,000
      4,606 SF

      2020 Elliot Rd Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 4,606 SF
      2020 Elliot Rd Ste, Tempe, AZ 85284-1809
      View Details
    • Value Estimation
      $10,595,000
      13,100 SF

      7650 Mcclintock Dr Ste, Unit 110

      SHOPPING CENTER, STRIP CENTER • 13,100 SF
      7650 Mcclintock Dr Ste, Tempe, AZ 85284-1674
      View Details
    • Value Estimation
      $1,760,000
      7,000 SF

      1700 Elliot Rd Ste, Unit 3

      SHOPPING CENTER, STRIP CENTER • 7,000 SF
      1700 Elliot Rd Ste, Tempe, AZ 85284-1631
      View Details

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      Tempe Crossing Drive-Thru Investment

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      Retail Building Near IKEA

      5,546 SF retail building with attractive patio and landscaping.
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    Similar Nearby for Lease

    • Contact for pricing
      3,770 SF

      Retail Space Available For Lease

      Retail spaces available from 1,168 to 3,770 SF.
      1721-1761 E Warner Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      13,000 SF

      Tempe Retail Space For Rent

      Retail space available in a high-traffic Tempe shopping center.
      8538-8550 S Emerald Dr, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,372 SF

      Retail Space Near ASU Research

      Retail space available near ASU Research with anchor tenants.
      1860 E Warner Rd, Tempe, AZ 85284
      View Details
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      Retail Development in Affluent Neighborhood

      Retail and restaurant spaces available in Tempe, Arizona.
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      Tempe Retail Space For Rent

      Retail space available in Tempe, anchored by Costco.
      1275 W Elliot Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing

      Grocery Store Retail Space

      Dominant grocer location in Tempe, Arizona.
      9900 S Rural Rd, Tempe, AZ 85284
      View Details
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    Tempe, AZ 85284-4555
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    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
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