Sign Up Successful!
You now have access to more from Realmo!
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

    2604 1St St Tempe, AZ 85281

    • Flex space
    • 26,000 SF
    • 1.77 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0832800
    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

    • Arizona Tortilla Equipment / Restaurant Supply Store / Food Machinery Supplier
    • Southwest Tool & Die Services / Machine Shop
    • Arizona Tool Works / Machine Shop
    • Hennessy Furniture / Upholstery Shop
    • Advanced Cylinder Certification, Inc. / Corporate Office

    Property Details for 2604 1St St

    Year built
    1977
    Construction
    CONCRETE
    Lot size
    1.77 lot acres
    Property size
    26,000 SF
    Zone code
    GID
    Property type
    Flex space
    APN
    124-39-013
    APU
    12439013

    Description

    This exceptional industrial property, part of the Skyport Business Park in Tempe Northwest, offers 1,000 square feet of immediately available flex space within a larger 26,000 square foot multi-tenant building. Built in 1977, the building boasts a 12-foot ceiling height, ideal for various manufacturing or flex uses. The space includes convenient grade-level loading doors measuring 10 feet wide by 10 feet high. Ample parking is provided with a generous ratio of 3.10 spaces per 1,000 square feet. The property features evaporative air conditioning and is equipped with 100 amp, 220-volt, 3-phase power. Fire sprinklers are installed throughout the building for enhanced safety. The property is zoned I-2 and conveniently located just 4 miles (approximately a 9-minute drive) from Sky Harbor Airport, offering excellent access to transportation and logistics. The property's Assessed Parcel Numbers (APN) are 124-39-014, 124-39-013, and 124-39-012, located within Maricopa County. This is a fantastic opportunity for businesses seeking a well-maintained, strategically located industrial space in a thriving Tempe submarket. Don't miss this chance to secure your ideal workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.976
    Latitude
    33.4286
    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
    $19,751
    $0.00
    $0.00
    $492,245
    -
    $313,500
    $2,669,800
    $2,983,300

    Comparable in this City

    • Value Estimation by Request
      64,072 SF

      1605 University Dr

      Flex space • 64,072 SF
      1605 University Dr, Tempe, AZ 85281
      View Details
    • Value Estimation by Request
      199,835 SF

      1705 University Dr

      Distribution properties • 199,835 SF
      1705 University Dr, Tempe, AZ 85281
      View Details
    • Value Estimation by Request
      25,564 SF

      1618 Priest Dr

      LIGHT INDUSTRIAL • 25,564 SF
      1618 Priest Dr, Tempe, AZ 85281-2008
      View Details
    • Value Estimation by Request
      25,564 SF

      1618 Priest Dr

      LIGHT INDUSTRIAL • 25,564 SF
      1618 Priest Dr, Tempe, AZ 85281-2008
      View Details
    • Value Estimation by Request
      25,564 SF

      1618 Priest Dr

      LIGHT INDUSTRIAL • 25,564 SF
      1618 Priest Dr, Tempe, AZ 85281-2008
      View Details
    • Value Estimation by Request
      33,290 SF

      1425 12th Pl

      LIGHT INDUSTRIAL • 33,290 SF
      1425 12th Pl, Tempe, AZ 85281-5231
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,383 SF

      Tempe Flex/Industrial Building For Sale

      21,383 SF flex/industrial building on 1.78 acres in Tempe.
      1615 S 52Nd St, Tempe, AZ 85281
      View Details
    • $1,600,000
      7,676 SF

      Tempe Flex Space Opportunity

      7,676 SF flex space in Smith Innovation Hub.
      205 S Mcclintock Dr, Tempe, AZ 85281
      View Details
    • $995,000
      3,826 SF

      Office/Warehouse Space in Tempe

      Single-story office/warehouse with flex space and HVAC warehouse.
      1337 E University Dr, Tempe, AZ 85281
      View Details
    • $3,272,000
      7,750 SF

      Tempe Warehouse with NNN Lease

      Warehouse for sale with a new 10-year absolute NNN lease.
      2149 E 5Th St, Tempe, AZ 85281
      View Details
    • Contact for pricing
      45,944 SF

      Industrial Warehouse Space Available

      45,944 SF industrial property with secured parking.
      1604 W 3Rd St, Tempe, AZ 85281
      View Details
    • $11,000,000
      1.95 Acres

      Tempe Redevelopment Opportunity

      Prime Tempe land, mixed-use potential.
      0 Swc Mcclintock Rd And Apache Blvd, Tempe, AZ 85281
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      199,835 SF

      1705 University Dr

      Distribution properties • 199,835 SF
      1705 University Dr, 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
    • $1.25 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
    • $1.35 SF/Yr
      2,790 SF

      Tempe Flex Space Sublease

      Flex space available for sublease through August 2026.
      2443 W 12Th St, Tempe, AZ 85281
      View Details
    • $1.45 SF/Yr
      2,225 SF

      Tempe Flex Space Available

      Move-in ready flex space with high-quality built-out.
      1525 W University Dr, Tempe, AZ 85281
      View Details
    • Contact for pricing
      5,500 SF

      Tempe Office Warehouse with Yard

      5,500 SF office warehouse with secure yard in Tempe.
      936 N Stadem Dr, Tempe, AZ 85281
      View Details
    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.
    2604 1St St
    Tempe, AZ 85281
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.