Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1835 University Dr Tempe, AZ 85281-4254

    • Strip malls
    • 8,850 SF
    • 0.73 lot acres
    OFF-MARKET
    Value Estimations
    $6,265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1773678
    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.

    Current Use by Public Records

    • Sky High Smoke Shop / (Bike/Boat/Book/etc) Store
    • Larsen Consulting & Sales Inc / Computer & Electronic Repair
    • Pita Valley / Restaurant
    • InstaHair Barbershop / Barber Shop
    • Spice It Up Hair and Nail Salon / Hair Salon

    Property Details for 1835 University Dr

    Year built
    1983
    Lot size
    0.73 lot acres
    Property size
    8,850 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    132-63-319
    APU
    13263319

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,423,000
      Market price range: $2.26M - $7.29M
      AI Estimate
      $6,103,000
      Market price range: $2.07M - $7.02M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,445,000
      Current use
      RESTAURANT
      $6,170,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,085,000
      Change: +37% Conversion: Difficult
      RETAIL STORES
      $4,660,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.908
    Latitude
    33.4214
    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
    $20,648
    $0.00
    $0.00
    $323,030
    -
    $1,047,100
    $910,658
    $1,957,758

    Comparable in this City

    • Value Estimation by Request

      1030 Stadem Dr

      SHOPPING CENTER, STRIP CENTER
      1030 Stadem Dr, Tempe, AZ 85281-1866
      View Details
    • Value Estimation
      $7,360,000
      9,100 SF

      215 University Dr

      SHOPPING CENTER, STRIP CENTER • 9,100 SF
      215 University Dr, Tempe, AZ 85281-3641
      View Details
    • Value Estimation
      $5,040,000
      9,075 SF

      851 University Dr

      SHOPPING CENTER, STRIP CENTER • 9,075 SF
      851 University Dr, Tempe, AZ 85281-3689
      View Details
    • Value Estimation
      $1,520,000
      1,880 SF

      1811 Apache Blvd, Unit 1001

      SHOPPING CENTER, STRIP CENTER • 1,880 SF
      1811 Apache Blvd, Tempe, AZ 85281-6088
      View Details
    • Value Estimation
      $4,210,000
      5,298 SF

      1811 Apache Blvd, Unit 1005

      SHOPPING CENTER, STRIP CENTER • 5,298 SF
      1811 Apache Blvd, Tempe, AZ 85281-6088
      View Details
    • Value Estimation
      $3,055,000
      7,850 SF

      403 University Dr

      SHOPPING CENTER, STRIP CENTER • 7,850 SF
      403 University Dr, Tempe, AZ 85281-5472
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      376,404 SF

      Tempe Retail Space Available

      Freestanding retail space in a busy Tempe shopping center.
      2010 E Rio Salado Pkwy, Tempe, AZ 85281
      View Details
    • $11,000,000
      1.95 Acres

      Tempe Redevelopment Opportunity

      Prime Tempe land, mixed-use potential.
      0 Swc Mcclintock Rd And Apache Blvd, Tempe, AZ 85281
      View Details
    • Contact for pricing
      3,000 SF

      Tempe Retail Property For Sale

      Retail property with 3,000 square feet of space in Tempe.
      221 S Mcclintock Dr, Tempe, AZ 85281
      View Details
    • Contact for pricing
      9,276 SF

      Retail Space Near Phoenix Metro

      Retail property near Sky Harbor Airport, Downtown Tempe, and ASU.
      825 S 48Th St, Tempe, AZ 85281
      View Details
    • Contact for pricing
      7,749 SF

      Scottsdale Road Auto Shop

      Auto shop with secured yard and easy highway access.
      2650 N Scottsdale Rd, Tempe, AZ 85281
      View Details
    • $7,500,000
      81,357 SF

      Tempe Marriott Hotel Investment

      Prime Tempe Hotel, NNN Lease, High ROI
      0 Perry Ln, Tempe, AZ 85281
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,300 SF

      Tempe Retail Space For Lease

      Prime Tempe location, 1,200 sq ft available.
      1335 University Dr, Tempe, AZ 85281
      View Details
    • Contact for pricing
      1,356 SF

      Tempe Retail Space For Rent

      Retail space available in a busy Tempe shopping center.
      2000 E Rio Salado Pkwy, Tempe, AZ 85281
      View Details
    • Contact for pricing

      Retail Center with National Tenants

      Multi-tenant retail center with excellent signage and visibility.
      315-325 S Kyrene Rd, Tempe, AZ 85281
      View Details
    • Contact for pricing
      5,765 SF

      Restaurant Build Out with Patio

      Restaurant build out with patio and potential retail space.
      4 E University Dr, Tempe, AZ 85281
      View Details
    • Contact for pricing
      16,275 SF

      Prime Commercial Land For Lease

      Approximately 1.95 AC site with frontage on McClintock Drive.
      1747 E Apache Blvd, Tempe, AZ 85281
      View Details
    • Contact for pricing
      1,167 SF

      Restaurant Space Near ASU Campus

      1,167 SF restaurant space for lease near ASU.
      1932 E University Dr, Tempe, AZ 85281
      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.
    1835 University Dr
    Tempe, AZ 85281-4254
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!