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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2222 Priest Dr Tempe, AZ 85282-1109

    • Hotels
    • 61,925 SF
    • 2.81 lot acres
    OFF-MARKET
    Value Estimations
    $24,660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2985814
    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

    • Fairfield Inn & Suites Phoenix Tempe/Airport / Hotel & Motel

    Property Details for 2222 Priest Dr

    Year built
    2017
    Construction
    STEEL FRAME
    Lot size
    2.81 lot acres
    Property size
    61,925 SF
    Zone code
    GID
    Property type
    Hotels
    APN
    123-33-060
    APU
    12333060

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $24,807,000
      Market price range: $10.1M - $45.0M
      AI Estimate
      $24,510,000
      Market price range: $8.07M - $43.5M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $24,645,000
      Current use
      INDUSTRIAL (GENERAL)
      $36,695,000
      Change: +49% Conversion: Difficult
      RETAIL STORES
      $32,610,000
      Change: +32% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $31,710,000
      Change: +29% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.962
    Latitude
    33.4041
    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
    $174,346
    $0.00
    $0.00
    $2,189,598
    -
    $3,065,100
    $10,205,189
    $13,270,289

    Comparable in this City

    • Value Estimation
      $17,750,000
      24,847 SF

      2100 Priest Dr

      HOTEL • 24,847 SF
      2100 Priest Dr, Tempe, AZ 85282-1116
      View Details
    • Value Estimation
      $5,365,000
      39,585 SF

      2301 Southern Ave

      HOTEL • 39,585 SF
      2301 Southern Ave, Tempe, AZ 85282-7637
      View Details
    • Value Estimation by Request
      285,000 SF

      500 20th St

      HOTEL • 285,000 SF
      500 20th St, Tempe, AZ 85282
      View Details
    • Value Estimation
      $9,370,000
      13,112 SF

      4909 Wendler Dr

      MOTEL • 13,112 SF
      4909 Wendler Dr, Tempe, AZ 85282-6310
      View Details
    • Value Estimation
      $8,040,000
      11,254 SF

      5075 Priest Dr

      MOTEL • 11,254 SF
      5075 Priest Dr, Tempe, AZ 85282-6653
      View Details
    • Value Estimation
      $7,720,000
      10,808 SF

      4400 Rural Rd

      MOTEL • 10,808 SF
      4400 Rural Rd, Tempe, AZ 85282-7044
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,976 SF

      Freestanding Restaurant Building in Tempe

      Fully fixturized restaurant for sale in a bustling Tempe location.
      1705 East Broadway Rd, Tempe, AZ 85282
      View Details
    • Contact for pricing

      Tempe Industrial/Warehouse/Distribution Building

      40,971 SF building in Tempe, suitable for industrial use.
      2980 South Priest Dr, Tempe, AZ 85282
      View Details
    • $1,100,000
      0.37 Acres

      Tempe Office Building - Investment Opportunity

      Free-standing office building, high income potential.
      2415 Rural Rd, Tempe, AZ 85282
      View Details
    • $899,500
      2,157 SF

      Tempe Standalone Medical Office Building

      Standalone Tempe office building, currently built out as medical.
      2030-2040 S Rural Rd, Tempe, AZ 85282
      View Details
    • $3,900,000
      12,072 SF

      Lakeshore OTC Medical Office

      Tempe, AZ medical office building, $3.9M
      4765 Lakeshore Dr, Tempe, AZ 85282
      View Details
    • Contact for pricing
      3,482 SF

      Tempe Restaurant - I-10 & US-60

      High-traffic Tempe restaurant, 3,482 SF.
      0 Sec Of I-10 & Us-60, Tempe, AZ 85282
      View Details

    Similar Nearby for Lease

    • $1.30 SF/Yr
      23,231 SF

      Tempe Industrial Suites For Lease

      Industrial suites for lease at Broadway Industrial Park in Tempe.
      835 W 22Nd St, Tempe, AZ 85282
      View Details
    • $13 SF/Yr
      2,034 SF

      Tempe Flex Project For Lease

      104,650 SF flex project with office/retail space for lease.
      2737 W Southern Ave, Tempe, AZ 85282
      View Details
    • Contact for pricing

      Tempe Office Space Available

      Office space with amenities for rent in Tempe, Arizona.
      1665 W Alameda Dr, Tempe, AZ 85282
      View Details
    • Contact for pricing
      900 SF

      Retail Space in Tempe, Arizona

      Retail space available in Tempe with high traffic intersection.
      5136 S Rural Rd, Tempe, AZ 85282
      View Details
    • Contact for pricing
      27,945 SF

      Tempe Retail Outparcel Opportunity

      High-traffic location, flexible space available
      2929 48Th St, Tempe, AZ 85282
      View Details
    • Contact for pricing
      35,525 SF

      Tempe Warehouse and Distribution Space

      Industrial space with easy freeway access and skilled labor pool.
      2850 South Roosevelt St, Tempe, AZ 85282
      View Details

    Property Visit Statistics

    • Visits by month
      7.2k
    • Visitors by month
      3.4k
    • Avg Time on site
      495 min
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    Tempe, AZ 85282-1109
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    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
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