Sign Up Successful!
You now have access to more from Realmo!
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

    1950 3rd St Tempe, AZ 85288-5865

    • Flex space
    • 30,951 SF
    • 2.01 lot acres
    OFF-MARKET
    Last Sale
    Sep 18, 2020
    Value Estimations
    $4,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2034942
    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

    • BDM Customs / Truck Accessories Store / Auto Repair Shop
    • True Shot Ammo / Ammunition Supplier

    Property Details for 1950 3rd St

    Year built
    2020
    Construction
    CONCRETE
    Lot size
    2.01 lot acres
    Property size
    30,951 SF
    Zone code
    GID
    Property type
    Flex space
    APN
    132-38-015
    APU
    13238015

    Description

    This exceptional 11,052-square-foot industrial property, built in 2020, offers a single-tenant occupancy opportunity in a prime Tempe location. The building boasts a spacious 10,256 square feet of immediately available space, perfect for manufacturing or warehousing operations. The high ceilings, measuring 19 feet, provide ample vertical clearance for storage and equipment. The property is equipped with robust power capabilities, featuring 400 amps, 120/208 volts, and 3-phase power, ensuring sufficient energy for demanding industrial processes. Its I-1 zoning designation allows for a wide range of industrial uses. Situated in Maricopa County, this location offers unparalleled convenience with easy access to major transportation arteries, including the Loop 202 and 101 freeways, providing seamless connectivity throughout the Phoenix metropolitan area. The property's proximity to Tempe Marketplace further enhances its appeal, offering employees convenient access to amenities and services. This modern, well-maintained facility presents a rare opportunity for businesses seeking a strategic location and functional space to support their growth and operations. The property's single-tenant configuration provides privacy and control, while its size and features cater to a variety of industrial needs. Don't miss this chance to secure a highly desirable industrial space in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,609,000
      Market price range: $3.49M - $6.33M
      AI Estimate
      $4,609,000
      Market price range: $3.49M - $6.33M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $4,895,000
      Current use
      MEDICAL BUILDING
      $6,335,000
      Change: +29% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.902
    Latitude
    33.4279
    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
    $42,606
    $0.00
    $0.00
    $600,254
    -
    $2,895,000
    $742,900
    $3,637,900

    Comparable in this City

    • Value Estimation by Request
      21,880 SF

      1000 Mcclintock Dr

      Flex space • 21,880 SF
      1000 Mcclintock Dr, Tempe, AZ 85288
      View Details
    • Value Estimation
      $1,550,000
      7,791 SF

      128 Siesta Ln

      LIGHT INDUSTRIAL • 7,791 SF
      128 Siesta Ln, Tempe, AZ 85288-3018
      View Details
    • Value Estimation
      $3,575,000
      31,699 SF

      2102 5th St

      LIGHT INDUSTRIAL • 31,699 SF
      2102 5th St, Tempe, AZ 85288-3032
      View Details
    • Value Estimation
      $2,575,000
      22,860 SF

      622 Hacienda Dr

      LIGHT INDUSTRIAL • 22,860 SF
      622 Hacienda Dr, Tempe, AZ 85288-2956
      View Details
    • Value Estimation
      $1,665,000
      8,932 SF

      640 Perry Ln

      LIGHT INDUSTRIAL • 8,932 SF
      640 Perry Ln, Tempe, AZ 85288-3088
      View Details
    • Value Estimation
      $3,540,000
      31,410 SF

      1817 Rio Salado Pkwy

      LIGHT INDUSTRIAL • 31,410 SF
      1817 Rio Salado Pkwy, Tempe, AZ 85288-2202
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,880 SF

      Tempe Industrial Flex Space

      ±21,880 SF Flex Space, Tempe, AZ
      1000 Mcclintock Dr, Tempe, AZ 85288
      View Details
    • Contact for pricing
      0.93 Acres

      Tempe Commercial Land - 0.933 Acres

      Prime Tempe location, high-density potential.
      2227 Mcarthur Dr, Tempe, AZ 85288
      View Details
    • $255,000
      987 SF

      Updated Tempe/ASU Gem

      Turn-key property near ASU, amenities, and transportation.
      524 S Allred Dr, Tempe, AZ 85288
      View Details
    • $220,000
      0.18 Acres

      Residential Lot in Tempe

      Buildable residential lot in Tempe, sewer tap available.
      1986 E University Dr, Tempe, AZ 85288
      View Details
    • $2,200,000
      3,000 SF

      Tempe Auto Shop Redevelopment

      Prime Tempe location, high traffic counts, redevelopment potential.
      221 Mcclintock Dr, Tempe, AZ 85288
      View Details
    • $165,000
      0.16 Acres

      Tempe Land Parcel For Sale

      Land parcel in Tempe, zoned AG, near Arizona State University.
      1986 E University Dr, Tempe, AZ 85288
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      48,000 SF

      Tempe Flex Space: 48,000 SF

      Industrial flex space, Tempe, AZ. Multiple suites available.
      1835 6Th St, Tempe, AZ 85288
      View Details
    • Contact for pricing
      334,000 SF

      Tempe Office Space Available

      334,000 sq ft office space for rent.
      1145 Vis Del Lago Dr, Tempe, AZ 85288
      View Details
    • Contact for pricing
      26,000 SF

      Shorehaven Tempe Town Lake Retail

      Luxury waterfront retail space, 26,000 sqft.
      0 Scottsdale Rd & Rio Salado Pkwy, Tempe, AZ 85288
      View Details
    • Contact for pricing

      Office Space in The Arroyo

      Office space available for lease at The Arroyo in Tempe.
      1295 West Washington St, Tempe, AZ 85288
      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.
    1950 3rd St
    Tempe, AZ 85288-5865
    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.