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Property profile & analytics
FOR LEASE
Office buildings
1920 West University Dr, Tempe, AZ 85281
Entity Owned
Free & Clear
Property ID
US07-0373566
For Lease
$10,960,000
1920 West University Dr, Tempe, AZ 85281
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
CONCRETE
Total area
50,242 SF
Lot
3.47 ac (151,197 SF)
Zoning code
GID
APN
124-38-244
UPID
US07-0373566
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
-
Shine In the Heights Hair Salon Nail Salon
-
Caskwerks Hand Sanitizer - A Division of Caskwerks Distilling Co. Big Box & Wholesale Store
-
Arizona Golf Works Golf Course (Bike/Boat/Book/etc) Store
-
HOPKINS GOLF Golf Course (Bike/Boat/Book/etc) Store
-
Reliable Parts Big Box & Wholesale Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.95M
Blend (final)
Blend
$10.96M
Owner & transaction history
Uscif Sky Harbor LLC
Uscif Sky Harbor LLC
since 2026
Last sale
$11.0M
7 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
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
OFFICE BUILDING
$13,535,000
Current use
Blend value · Realmo final
$10.96M
Range $9.86M – $12.06M · ±10% · vs last sale $11.04M (Dec 22 2025)
Last sale anchor
$11.04M
Dec 22 2025
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
$218 / 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
$102,158
Tax year 2023
Assessed value
$1,058,640
Assessed 2024
Previous assessed
$1,390,311
-23.9% YoY
Effective rate
9.65%
On assessed value
Land market value
$680,700
Improvement market value
$5,735,300
Total market value
$6,416,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1988
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
50,242 SF
Lot
3.47 ac (151,197 SF)
Zoning code
GID
APN
124-38-244
UPID
US07-0373566
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$13.5M
OFFICE BUILDING Current
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
1988
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
3.47 ac
Current owner
From public records · entity-resolved
Uscif Sky Harbor LLC
Entity
Free & Clear · 0 yrs held
Mailing address
255 WASHINGTON ST STE #270, NEWTON, MA 02458-1634
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2026
$23,219,975
Uscif Sky Harbor LLC
Opus Development Company LLC
Special Warranty Deed
—
Dec 22, 2025
$11,037,975
Opus Development Company LLC
Sir Properties Trust
Special Warranty Deed
—
Jun 1, 2021
$550,000
Veritas Vista LLC
Jamas LLC
Special Warranty Deed
—
May 25, 2021
$2,935,000
Veritas Vita LLC
Corona Joint Venture LLC
Warranty Deed
—
May 9, 2018
—
Dshm Properties & Investments LLC
—
Deed
related
$232,780 · Jpmorgan Chase Bank NA
Feb 21, 2012
$10
Sir Properties Trust
Hub Properties Trust
Grant Deed
—
Jun 30, 1999
$10,000,000
Hub Properties Trust
Prentiss Properties Acquistion
Grant Deed
—
Jul 31, 1997
$9,900,000
Prentiss Properties Acquisition
Oliver Regents Centre R &
Grant Deed
—
Jun 23, 1994
—
Mcmillan Regents Centre R Oliver
America West Ari
Grant Deed
related
—
Nov 1, 1991
$106,000
Oliver Mc Millan
Oliver Mc Millan
Grant Deed
related
—
Apr 15, 1987
$4,421,687
Oliver Mcmillan
—
Grant Deed
related
—
—
—
Mcmillan Regents Centre R Oliver
—
Deed Of Trust
related
$2,600,000 · San Diego National Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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