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Property profile & analytics
OFF-MARKET
Estimated value
$24,660,000
Hotels
2222 Priest Dr Tempe, AZ 85282-1109
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-2985814
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2017
Construction
STEEL FRAME
Total area
61,925 SF
Lot
2.81 ac (122,607 SF)
Zoning code
GID
APN
123-33-060
UPID
US07-2985814
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
-
Fairfield Inn & Suites Phoenix Tempe/Airport Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$24.81M
Blend (final)
Blend
$24.66M
Owner & transaction history
Mlem Properties INC · 10 yrs held
Mlem Properties INC
since 2016
7 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$36.7M
+48.9%
Retail stores
$32.6M
+32.3%
Neighborhood: shopping center
$31.7M
+28.7%
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
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
Blend value · Realmo final
$24.66M
Range $22.19M – $27.13M · ±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
$398 / 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
$174,346
Tax year 2023
Assessed value
$2,189,598
Assessed 2024
Previous assessed
$1,873,298
+16.9% YoY
Effective rate
7.96%
On assessed value
Land market value
$3,065,100
Improvement market value
$10,205,189
Total market value
$13,270,289
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Stories
5
Units
110
Total area
61,925 SF
Lot
2.81 ac (122,607 SF)
Zoning code
GID
APN
123-33-060
UPID
US07-2985814
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
HOTEL/MOTEL Current
Est. value
$24.6M
INDUSTRIAL (GENERAL)
Est. value
$36.7M
RETAIL STORES
Est. value
$32.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$31.7M
HOTEL/MOTEL Current
INDUSTRIAL (GENERAL)
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
2017
Construction
STEEL FRAME
Heating
NONE
Stories
5
Units
110
Lot
2.81 ac
Current owner
From public records · entity-resolved
Mlem Properties INC
Entity
Free & Clear · 10 yrs held
Mailing address
290 S ALMA SCHOOL RD STE #13, CHANDLER, AZ 85224-7633
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2022
—
Mlem Properties INC
—
Deed
related
$7,643,333 · Wells Fargo Bank NA
Sep 30, 2016
—
Mlem Properties INC
—
Trustees Deed
related
$9,750,000 · Wells Fargo Bk
Jun 6, 2016
$1,949,850
Mlem Properties INC
Marusiak Lucia R Trust
Grant Deed
—
Dec 9, 2013
—
Marusiak,lucia R Trust
Marusiak Family Trust
Quit Claim Deed
related
—
Nov 6, 2013
$314,160
Drexler Ents INC
Western Regional Foreclos
Trustees Deed
related
—
Dec 18, 2012
—
Lot 3b Fountainhead LLC
Travis Family Living Trust
Grant Deed
—
Nov 17, 2010
—
Marusiak Family Trust
Marusiak,lucia R & Robert L
Quit Claim Deed
related
—
Dec 31, 2007
$337,264
Travis G Mark
Building Arizona 2 LLC
Grant Deed
—
Dec 31, 2007
$1,011,793
Robert L Marusiak
Building Arizona 2 LLC
Grant Deed
—
—
—
Building Arizona 2 LLC
—
Deed Of Trust
related
$260,000 · Drexler Ents INC
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.
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