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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Warehouses
229 Riv Dr Tempe, AZ 85288-3057
Entity Owned
4-yr Hold
Free & Clear
Property ID
US07-1275296
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1977
Construction
CONCRETE
Total area
5,600 SF
Lot
0.55 ac (24,024 SF)
Zoning code
GID
APN
132-37-094
UPID
US07-1275296
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
-
Walter's Precision Service, INC Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.90M
Owner & transaction history
Rs Tree River LLC · 4 yrs held
Rs Tree River LLC
since 2022
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.0M
+172.5%
Neighborhood: shopping center
$2.8M
+159.8%
Office building
$1.6M
+44.3%
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
$2,055,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,950,000
Change: +173% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,810,000
Change: +160% · Conversion: Moderate
OFFICE BUILDING
$1,560,000
Change: +44% · Conversion: Difficult
MEDICAL BUILDING
$1,145,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $2.08M (Apr 18 2022)
Last sale anchor
$2.08M
Apr 18 2022
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
$339 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$10,380
Tax year 2022
Assessed value
$235,092
Assessed 2024
Previous assessed
$212,823
+10.5% YoY
Effective rate
4.42%
On assessed value
Land market value
$792,700
Improvement market value
$632,100
Total market value
$1,424,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
5,600 SF
Lot
0.55 ac (24,024 SF)
Zoning code
GID
APN
132-37-094
UPID
US07-1275296
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
RETAIL STORES
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
OFFICE BUILDING
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
MEDICAL BUILDING
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
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.55 ac
Current owner
From public records · entity-resolved
Rs Tree River LLC
Entity
Free & Clear · 4 yrs held
Mailing address
230 S SIESTA LN, TEMPE, AZ 85288-3044
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2022
$2,075,333
Rs Tree River LLC
Frances C Scurei
Special Warranty Deed
—
May 8, 2020
—
Scurei,walter & Frances Trust
Walter M Scurei
Quit Claim Deed
related
—
Nov 4, 2019
—
Walter M Scurei
Scurei Walter M Family Trust
Quit Claim Deed
related
—
Nov 9, 1995
—
Walter M Scurei
Walter M Scurei
Quit Claim Deed
related
$213,000 · Founders Bank Of Arizona
Jan 24, 1995
—
Walter M Scurei
Scurei
Quit Claim Deed
related
—
Nov 4, 1993
—
Walter M Scurei
Scurei
Quit Claim Deed
related
—
Oct 22, 1987
$14,414
Walter M Scurei
—
Grant Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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