Property profile

2640 Medtronic Way Tempe, AZ 85281

OFF-MARKET
Warehouses
Property ID
US07-0395505
20,934 SF 1.36 ac lot Built 1980
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 21,000+ square foot industrial flex space in Tempe, Arizona, presents a compelling investment opportunity. Situated on a 1.36-acre lot, the property boasts a prime location less than one mile from the I-10 and 143 freeways, two miles from the 202 freeway and Sky Harbor Airport, and just three miles from Arizona State University. Its convenient access to major transportation arteries ensures seamless logistics and distribution. The building features two 12-foot overhead doors, two 400-amp electrical panels, and a clean room, catering to diverse operational needs. With 53 parking spaces, including nine covered spaces, ample parking is readily available. The current layout is adaptable for single-owner occupancy or multi-tenant use, offering flexibility for various business models. The property benefits from excellent highway visibility and includes an existing monument sign. The building is fully air-conditioned, providing a comfortable and efficient work environment. Potential uses include production, distribution, manufacturing, laboratory, and office space. This property represents a rare opportunity to acquire a well-located, versatile industrial asset in a thriving market.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1980
Construction CONCRETE
Total area 20,934 SF
Lot 1.36 ac (59,390 SF)
Zoning code GID
APN 124-56-039A
UPID US07-0395505

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Engineer
  • Factory Production Facility
  • Factory Production Facility

Location

2640 Medtronic Way Tempe, AZ 85281-5136
Tempe metro Census 319710 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.40M
Blend (final) Blend
$1.32M

Owner & transaction history

since 2025
Last sale
$4.1M
7 recorded transactions
2025
Price N/A
2025
$4.1M
2001
$10
2000
$1.3M
1993
$650,000
1988
Price N/A
1969
Price N/A

Zoning & alternative use

GID · Tempe, AZ
Zoning description

General Industrial District is designed to provide, office uses, warehousing, wholesaling, assembling and manufacturing of building materials, machinery and other commodities to provide employment centers and production.

General category INDUSTRIAL
Top alternative use upside
Office building $5.6M +40.2%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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