2420 Baseline Rd Tempe, AZ 85283-1028
Property Lookup
Property profile & analytics
2420 Baseline Rd Tempe, AZ 85283-1028
- Medical Office Space
- 104,508 SF
- 8.84 lot acres
Property ID
US07-0668007
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.
Location Intelligence
Current Use by Public Records
- Dennis Swearingen / Pediatrician / Physician
- Celerion / Research Institute / Medical Clinic
Property Details for 2420 Baseline Rd
- Year built
- 2005
- Construction
- CONCRETE
- Lot size
- 8.84 lot acres
- Property size
- 104,508 SF
- Zone code
- LID
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 123-22-610
- APU
- 12322610
Description
This exceptional investment opportunity presents a fee-simple ownership of the Celerion R&D Portfolio, encompassing two strategically located buildings totaling 233,565 net rentable square feet on a 15.3-acre lot in Tempe, Arizona. The property is currently 100% occupied under a master lease with Celerion, a globally recognized contract research organization specializing in complex clinical services for pharmaceutical and biotechnology companies. The absolute NNN lease, commenced July 1, 2015, has a remaining term of 5.6 years, with a lease expiration date of June 30, 2030. The lease includes annual rent bumps of 2.00% and four 5-year renewal options, providing significant long-term stability and predictable income. Built between 1973 and 2006, these facilities serve as Celerion's sole North American clinical research facilities, representing a mission-critical asset for their operations. The properties boast hospital-grade finishes, emergency generators, and specialized storage, reflecting a substantial investment by the tenant. The Tempe location offers proximity to leading hospital campuses, fostering strategic partnerships for ongoing clinical research. This offering presents a rare opportunity to acquire a high-quality, mission-critical asset with a strong tenant and significant remaining lease term, offering below-market rent and substantial upside potential. The property is located at 2420 W Baseline Rd, Tempe, AZ 85283.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $25,950,000
- AI Estimate
- $25,950,000
Market price range: $14.4M - $33.5MMarket price range: $14.4M - $33.5M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $21,395,000 Current use
- OFFICE BUILDING
- $26,085,000 Change: +22% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tempe
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.975
- Latitude
- 33.3792
- 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
$321,774
$0.00
$0.00
$4,185,579
-
$3,018,700
$22,348,443
$25,367,143
