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Property profile & analytics
FOR LEASE
Flex space
2105 S Hardy Dr, Tempe, AZ 85282
Entity Owned
8-yr Hold
Free & Clear
Property ID
US07-0110131
For Lease
1 / 12
$1.25 SF/Yr
2105 S Hardy Dr, Tempe, AZ 85282
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1974
Construction
CONCRETE
Total area
40,480 SF
Lot
2.55 ac (111,078 SF)
Zoning code
GID
APN
123-55-004S
UPID
US07-0110131
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
-
Ramm Engineering Engineering Consultant
-
Self Storage Storage Facility
-
Excel Screen Printing (Bike/Boat/Book/etc) Store Printing Service
-
LS BRANDING Textile Manufacturer Factory
-
Barkley Fluid Power Factory Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.72M
Blend (final)
Blend
$18.72M
Owner & transaction history
Hardy Business Park LLC · 8 yrs held
Hardy Business Park LLC
since 2017
4 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$28.2M
+17.6%
Auto repair, garage
$27.8M
+16.0%
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
INDUSTRIAL (GENERAL)
$23,990,000
Current use
RESTAURANT
$28,215,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$27,825,000
Change: +16% · Conversion: Easy
RETAIL STORES
$21,315,000
Change: -11% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$20,730,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$18.72M
Range $16.85M – $20.59M · ±10%
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
$462 / 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
$37,097
Tax year 2023
Assessed value
$712,091
Assessed 2024
Previous assessed
$543,065
+31.1% YoY
Effective rate
5.21%
On assessed value
Land market value
$769,400
Improvement market value
$3,546,300
Total market value
$4,315,700
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Lease
Year built
1974
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
40,480 SF
Lot
2.55 ac (111,078 SF)
Zoning code
GID
APN
123-55-004S
UPID
US07-0110131
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
INDUSTRIAL (GENERAL) Current
Est. value
$24.0M
RESTAURANT
Est. value
$28.2M
AUTO REPAIR, GARAGE
Est. value
$27.8M
RETAIL STORES
Est. value
$21.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$20.7M
INDUSTRIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1974
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.55 ac
Current owner
From public records · entity-resolved
Hardy Business Park LLC
Entity
Free & Clear · 8 yrs held
Mailing address
9500 SW BARBUR BLVD STE #300, PORTLAND, OR 97219-5436
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2017
$2,400,000
Hardy Business Park LLC
M & M Associates
Grant Deed
—
Jun 3, 2003
$2,300,000
M & M Associates
Schaddelee,cornelis J & Bonita C
Grant Deed
—
Sep 22, 1995
—
Stowe Family Trust
Stoway Investments
Quit Claim Deed
related
—
Sep 22, 1995
$1,007,500
Schaddelee,cornelis J & Bonita C
Earline S & Carol J Stowe
Trustees Deed
$287,321 · Seller
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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