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Financial
Distress signals
Property profile

2121 S Priest Dr Tempe, AZ 85282

FOR LEASE
Flex space
Property ID
US07-0345211
44,538 SF 7.4 ac lot Built 1974
Last sale Sep 2025 · $29,000,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

Priest Business Park, located at 2121, 2123, 2125, and 2127 S Priest Dr in Tempe, Arizona, presents a compelling opportunity for businesses seeking industrial space. This multi-tenant property, situated on a 3.6-acre lot in the Tempe Southwest Industrial submarket of Maricopa County, offers a total of 56,845 square feet of manufacturing and warehouse space. Currently, 20,685 square feet are available for lease, divisible into units ranging from a minimum of 960 square feet to a maximum…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$96k
Tax billed · 2023
Assessed value · 2024$2.36M
Effective rate4.06%

Value estimate

· Oct 2026
$28.10M
$25.29M – $30.90M
NOI build-up
Gross scheduled income$566k
Vacancy & credit loss−$33k
Operating expenses−$160k
NOI · 27,636,222.22% cap applied$373k

Realmo valuation models over county records and 7 qualifying comparable sales.

Recently sold

What actually traded nearby?
$593/SF
ZIP average, outlier-cleaned · 55 recorded sales of this use type
Observed band · Q1–Q3$165 – $972
Qualifying comparables7

Cap rate analysis

How does the asset earn?
27,636,222.22%
$373k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
GID
General Industrial District is designed to provide, office uses, warehousing, wholesaling, assembling and manufacturing of building mater...
General categoryINDUSTRIAL
JurisdictionMARICOPA

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency22.0
Dental Office20.1
Law Firm19.7

Location

2121 S Priest Dr Tempe, AZ 85282
County assessor Recorded deeds · 9 transfers 7 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 15 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
730 Fairmont, Tempe, AZ 85282-3301 $8,250,000 Oct 2024 49,951 SF
455 21st, Tempe, AZ 85282-2016 $30,000,000 Jun 2024 60,150 SF
1102 Southern, Tempe, AZ 85282-4558 $8,540,000 Apr 2024 43,492 SF
1120 Alameda, Tempe, AZ 85282-3317 $25,000,000 Sep 2022 29,888 SF
2625 Wilson, Tempe, AZ 85282-2025 $11,130,000 Nov 2021 86,042 SF
616 24th, Tempe, AZ 85282-1930 $5,600,000 Nov 2021 41,004 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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