Add Listing
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

    2135 15th St Tempe, AZ 85281-6942

    • Hotels
    • 50,112 SF
    • 3.08 lot acres
    OFF-MARKET
    Value Estimations
    $12,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0713683
    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

    • Red Roof PLUS+ Tempe - Phoenix Airport / Hotel & Motel
    • Hotwire travel / Hotel & Motel
    • Hotel / Hotel & Motel

    Property Details for 2135 15th St

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    3.08 lot acres
    Property size
    50,112 SF
    Zone code
    I-1
    Property type
    Hotels
    APN
    124-58-121
    APU
    12458121

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,271,000
      Market price range: $8.16M - $36.4M
      AI Estimate
      $12,124,000
      Market price range: $6.53M - $35.2M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $19,945,000
      Current 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
    33.4115
    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
    $95,001
    $0.00
    $0.00
    $1,083,105
    -
    $1,060,500
    $5,503,770
    $6,564,270

    Comparable in this City

    • Value Estimation
      $25,490,000
      57,090 SF

      1600 52nd St

      HOTEL • 57,090 SF
      1600 52nd St, Tempe, AZ 85281-6223
      View Details
    • Value Estimation by Request
      241,286 SF

      11 7th St

      HOTEL • 241,286 SF
      11 7th St, Tempe, AZ 85281-3605
      View Details
    • Value Estimation
      $33,255,000
      67,738 SF

      225 Apache Blvd

      HOTEL • 67,738 SF
      225 Apache Blvd, Tempe, AZ 85281-6712
      View Details
    • Value Estimation by Request
      146,606 SF

      510 Frst Ave

      HOTEL • 146,606 SF
      510 Frst Ave, Tempe, AZ 85281-6490
      View Details
    • Value Estimation
      $2,000,000
      84,950 SF

      100 Rio Salado Pkwy

      HOTEL • 84,950 SF
      100 Rio Salado Pkwy, Tempe, AZ 85281-0240
      View Details
    • Value Estimation
      $18,845,000
      64,655 SF

      1550 52nd St

      HOTEL • 64,655 SF
      1550 52nd St, Tempe, AZ 85281-6232
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      290,383 SF

      Tempe Westin Hotel Investment

      Luxury Hotel, Net Lease, High ROI
      11 7Th St, Tempe, AZ 85281
      View Details
    • $13,000,000
      98,106 SF

      Tempe Motel - $13M Investment

      131-Key Tempe Motel near ASU
      1720 Priest Dr, Tempe, AZ 85281
      View Details
    • $1,450,000

      Tempe Multifamily Land Opportunity

      High-density multifamily land near ASU campus.
      1229 E Spence Ave, Tempe, AZ 85281
      View Details
    • $1,500,000
      0.71 Acres

      Tempe Land Development Opportunity

      High-density, multi-family development opportunity near ASU in Tempe.
      1871 E Hayden Ln, Tempe, AZ 85281
      View Details
    • Contact for pricing
      1,036 SF

      Single-Level Townhome Near ASU

      3-bedroom, 2-bath townhome in University Ranch community, Tempe.
      2123 E Kirkland Ln, Tempe, AZ 85281
      View Details
    • $1,817,000

      Tempe Multifamily Development Opportunity

      Incomplete townhome development and undeveloped lots in Tempe, Arizona.
      323 S Roosevelt St, Tempe, AZ 85281
      View Details

    Similar Nearby for Lease

    • $1.20 SF/Yr
      26,000 SF

      East Valley Industrial Space

      Industrial space available for lease in East Valley, 26000 sqft.
      2604 W 1St St, Tempe, AZ 85281
      View Details
    • $1.40 SF/Yr
      13,769 SF

      Tempe Office/Industrial Suites For Lease

      Multi-tenant office and industrial suites available for lease in Tempe.
      455 S 48Th St, Tempe, AZ 85281
      View Details
    • $19 SF/Yr
      64,072 SF

      Tempe Warehouse Space Available

      Versatile Tempe industrial space for lease.
      1605 University Dr, Tempe, AZ 85281
      View Details
    • $1.55 SF/Yr
      1,352 SF

      Air Conditioned Warehouse Space

      Warehouse space available for rent, fully air conditioned.
      2209 W 1St St, Tempe, AZ 85281
      View Details
    • $1.25 SF/Yr
      5,916 SF

      Tempe Flex Space Available

      Flex space with excellent freeway access and airport proximity.
      410 S Perry Ln, Tempe, AZ 85281
      View Details
    • $1.40 SF/Yr
      28,567 SF

      Industrial Space For Lease

      Industrial space available for lease near University and SR-143.
      947 S 48Th St, Tempe, AZ 85281
      View Details

    Property Visit Statistics

    • Visits by month
      3.5k
    • Visitors by month
      1.3k
    • Avg Time on site
      272 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.
    2135 15th St
    Tempe, AZ 85281-6942
    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.
    Sign Up Successful!
    You now have access to more from Realmo!