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
Entity Owned ~ Est. High Equity
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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 contiguous space of 8,800 square feet. The building, constructed in 1974, features high ceilings ranging from 14 to 18 feet, providing ample vertical space for various operational needs. Electrical service includes 100-200 Amps

Property profile

Verified
Property type Flex space
Use group LIGHT INDUSTRIAL
Year built 1974
Construction CONCRETE
Total area 44,538 SF
Lot 7.4 ac (322,344 SF)
Zoning code GID
APN 123-35-008A
UPID US07-0345211

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Electronics & Wireless Store
  • Car Dealership
  • Wedding Service Event Planning
  • Car Dealership
  • Car Dealership

Location

2121 S Priest Dr Tempe, AZ 85282
Tempe metro Census 319705 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$28.10M

Owner & transaction history

since 2025
Last sale
$29.0M
7 recorded transactions
2025
$29.0M
2021
$21.5M
2017
Price N/A
2008
Price N/A
1999
$4.9M
1998
Price N/A
1969
Price N/A

Zoning & alternative use

GID · Tempe, AZ
Zoning description

General Industrial District is designed to provide, office uses, warehousing, wholesaling, assembling and manufacturing of building materials, machinery and other commodities to provide employment centers and production.

General category INDUSTRIAL
Top alternative use upside
Restaurant $31.0M +17.6%
Auto repair, garage $30.6M +16.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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