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Property profile & analytics
FOR SALE
Flex space
1819 W Drake Dr, Tempe, AZ 85283
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-1288747
For Sale
1 / 8
$8,710,000
1819 W Drake Dr, Tempe, AZ 85283
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1987
Construction
CONCRETE
Total area
5,900 SF
Lot
8.01 ac (348,977 SF)
Zoning code
GID
APN
301-41-174A
UPID
US07-1288747
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
-
Elliot Park 10 Business Park
-
Center For Tox Services Inc Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.24M
Blend (final)
Blend
$8.71M
Owner & transaction history
Lpc Elliot LLC · 5 yrs held
Lpc Elliot LLC
since 2021
Last sale
$10.5M
6 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
$10,065,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.71M
Range $7.84M – $9.58M · ±10% · vs last sale $10.50M (Mar 2 2021)
Last sale anchor
$10.50M
Mar 2 2021
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
$1,476 / 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
$86,848
Tax year 2023
Assessed value
$2,211,215
Assessed 2024
Previous assessed
$1,666,425
+32.7% YoY
Effective rate
3.93%
On assessed value
Land market value
$3,536,100
Improvement market value
$9,865,200
Total market value
$13,401,300
Applied tax rate
281,600.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Sale
Year built
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
5
Stories
1
Units
5
Total area
5,900 SF
Lot
8.01 ac (348,977 SF)
Zoning code
GID
APN
301-41-174A
UPID
US07-1288747
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
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
5
Units
5
Lot
8.01 ac
Current owner
From public records · entity-resolved
Lpc Elliot LLC
Entity
Mailing address
1475 POWELL ST STE #201, EMERYVILLE, CA 94608-2182
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
—
Lpc Elliot LLC
—
Deed
related
$10,250,000 · The Lincoln National Life Insurance Comp
Mar 2, 2021
$10,500,000
Lpc Elliot LLC
Bkm Elliot 114 LLC
Special Warranty Deed
$7,350,000 · Banc Of California NA
May 17, 2016
$7,000,000
Bkm Elliot 114 LLC
Sfers Real Estate Corp M
Special Warranty Deed
$16,000,000 · Bank Of America NA
Jun 30, 2011
—
Sfers Real Estate Corp M
—
Deed Of Trust
related
$7,000,000 · Sumitomo Mitsui Banking Corp
Aug 9, 1994
$10,683,000
Sfers Real Estate Corp
New England Mutu
Grant Deed
—
Sep 21, 1987
—
Cmdc Part Copley
—
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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