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

    2040 Rio Salado Pkwy Tempe, AZ 85281-2802

    • Showrooms
    • 215,000 SF
    • 21.65 lot acres
    OFF-MARKET
    Last Sale
    May 08, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2328083
    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

    • HOUMAN BEHSHAD / Physician
    • European Wax Center / Spa & Massage Center / Skin Care Clinic
    • Arizona Hair Co #37 / Hair Salon / Nail Salon
    • 7 Day Spa & Nails / Nail Salon
    • InteriorWorx Commercial Flooring / General Contractor / Renovation Specialist

    Property Details for 2040 Rio Salado Pkwy

    Year built
    2015
    Construction
    CONCRETE
    Lot size
    21.65 lot acres
    Property size
    215,000 SF
    Zone code
    GID
    Property type
    Showrooms
    APN
    124-78-019
    APU
    12478019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.972
    Latitude
    33.4322
    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
    $0.00
    $0.00
    $0.00
    $3,101,508
    -
    $3,077,200
    $17,599,519
    $20,676,719

    Comparable in this City

    • Value Estimation
      $4,445,000
      4,656 SF

      707 Frst Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,656 SF
      707 Frst Ave, Tempe, AZ 85281-3722
      View Details
    • Value Estimation
      $32,835,000
      51,035 SF

      740 Ml Ave

      RETAIL STORES (PERSONAL SERVICES) • 51,035 SF
      740 Ml Ave, Tempe, AZ 85281-3629
      View Details
    • Value Estimation
      $725,000
      1,342 SF

      1200 University Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,342 SF
      1200 University Dr, Tempe, AZ 85281-3405
      View Details
    • Value Estimation
      $2,875,000
      3,010 SF

      1034 Ml Ave

      GROCERY, SUPERMARKET • 3,010 SF
      1034 Ml Ave, Tempe, AZ 85281-5606
      View Details
    • Value Estimation by Request
      1,740 SF

      944 Ml Ave

      BARBER, HAIR SALON • 1,740 SF
      944 Ml Ave, Tempe, AZ 85281-5605
      View Details
    • Value Estimation
      $1,085,000
      1,152 SF

      2126 Apache Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,152 SF
      2126 Apache Blvd, Tempe, AZ 85281-4863
      View Details

    Similar Nearby for Sale

    • $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
    • $7,450,000
      9,614 SF

      Historic Mill Avenue Investment Property

      Fully occupied, historic building in Tempe's Mill Avenue District.
      401 S Mill Ave, Tempe, AZ 85281
      View Details
    • Contact for pricing
      15,000 SF

      Tempe Retail/Restaurant Space Available

      Prime ground floor retail space near ASU's Tempe Campus.
      115 W 6Th St, Tempe, AZ 85281
      View Details
    • Contact for pricing
      1,733 SF

      Retail Space Near Arizona State

      Retail space for sale adjacent to Arizona State University.
      925 E Apache Blvd, 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
    • $2,200,000
      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

    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
      2,200 SF

      Retail Space Near ASU Campus

      Retail space in new community, close to ASU campus.
      707 S Farmer Ave, Tempe, AZ 85281
      View Details
    • Contact for pricing
      1,558 SF

      Retail Space Near Tempe Marketplace

      Retail space with high traffic, easy freeway access.
      96 S Rockford Dr, Tempe, AZ 85281
      View Details
    • $35 SF/Yr
      2,500 SF

      Tempe Restaurant/Retail Space Available

      Located in Downtown Tempe near ASU's Main Campus.
      405 W University Dr, Tempe, AZ 85281
      View Details
    • Contact for pricing
      1,764 SF

      Retail Space Near ASU

      Retail space near ASU and light rail with parking.
      1812 E Apache Blvd, Tempe, AZ 85281
      View Details
    • $26 SF/Yr
      900 SF

      Retail Space Near Light Rail

      Retail space for lease, high traffic, close to light rail.
      1860-1880 E Apache Blvd, Tempe, AZ 85281
      View Details

    Property Visit Statistics

    • Visits by month
      783
    • Visitors by month
      332
    • Avg Time on site
      47 min
    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.
    2040 Rio Salado Pkwy
    Tempe, AZ 85281-2802
    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.