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    Property profile & analytics

    2700 W Baseline Rd Tempe, AZ 85283

    • Grocery and convenience stores
    • 50,724 SF
    • 4.22 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1163904
    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

    • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store
    • High standards barbershop / Barber Shop
    • Ria Money Transfer - Fry's / Bank / Credit Union
    • Taxes Done Right / Accounting Firm / Tax Preparation

    Property Details for 2700 W Baseline Rd

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    4.22 lot acres
    Property size
    50,724 SF
    Zone code
    PCC-1
    Property type
    Grocery and convenience stores
    APN
    123-22-006N
    APU
    12322006N

    Description

    This Tempe, Arizona shopping center presents a compelling investment opportunity. The 49,315 square foot property boasts a 7.00% cap rate and a strong 95.1% occupancy rate (as of October 1, 2024). Anchored by a Kroger grocery store and featuring 16 additional tenants including Goodwill and Honorhealth, this multi-tenant retail center offers a diverse income stream. Situated on a 3.81-acre lot at 2700 W Baseline Rd, Tempe, AZ 85283, the center benefits from high visibility and traffic counts exceeding 86,000 vehicles daily. The property includes 536 parking spaces and features a mix of tenants catering to daily needs and specialty services. Built in 1987, the center is zoned PCC-1 and offers a stabilized investment with a Net Operating Income (NOI) of $1,011,288. The asking price is $14,450,000, translating to a price per square foot of $293.01. The property's strong tenant mix, high occupancy, and prime location make it an attractive addition to any portfolio. APN: 123-22-006P, 123-22-617, 123-22-618.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,574,000
      Market price range: $6.56M - $48.4M
      AI Estimate
      $11,365,000
      Market price range: $6.56M - $48.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.977
    Latitude
    33.3791
    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
    $90,040
    $0.00
    $0.00
    $867,108
    -
    $2,276,600
    $2,978,600
    $5,255,200

    Comparable in this City

    • Value Estimation
      $535,000
      2,024 SF

      9214 Avenida Del Yaqui

      CONVENIENCE STORE • 2,024 SF
      9214 Avenida Del Yaqui, Guadalupe, AZ 85283-2526
      View Details
    • Value Estimation
      $2,080,000
      2,811 SF

      2785 Baseline Rd

      CONVENIENCE STORE • 2,811 SF
      2785 Baseline Rd, Tempe, AZ 85283-1066
      View Details
    • Value Estimation
      $2,210,000
      2,700 SF

      905 Guadalupe Rd

      CONVENIENCE STORE • 2,700 SF
      905 Guadalupe Rd, Tempe, AZ 85283-3041
      View Details
    • Value Estimation
      $1,745,000
      2,908 SF

      505 Guadalupe Rd

      CONVENIENCE STORE • 2,908 SF
      505 Guadalupe Rd, Tempe, AZ 85283-3520
      View Details
    • Value Estimation
      $2,885,000
      3,095 SF

      7530 Priest Dr

      CONVENIENCE STORE • 3,095 SF
      7530 Priest Dr, Tempe, AZ 85283-4301
      View Details
    • Value Estimation
      $775,000
      2,781 SF

      939 Baseline Rd

      CONVENIENCE STORE • 2,781 SF
      939 Baseline Rd, Tempe, AZ 85283-1003
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,000 SF

      Prime Retail Space Available

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      Hard corner retail space with excellent visibility in Tempe.
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      Tempe Retail Redevelopment Opportunity

      Highly visible site suitable for redevelopment or repurposing in Tempe.
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    • $4,500,000
      13,813 SF

      Prime Location Retail Opportunity

      High-traffic location near I-10 and Arizona Mills.
      1424 W Baseline Rd, Tempe, AZ 85283
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      Retail Space at Fiesta Plaza

      Retail space available in South Tempe with high traffic volume.
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      Tempe Retail Center For Sale

      Retail opportunity at a busy Tempe intersection near major freeways.
      Sec Mcclintock Dr & Guadalupe Rd, Tempe, AZ 85283
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    Similar Nearby for Lease

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      4,771 SF

      Tempe Flex Space Available

      Flex space featuring a showroom, offices, and frontage.
      5869 S Kyrene Rd, Tempe, AZ 85283
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      Retail Space in Tempe Center

      Retail space available in a busy Tempe shopping center.
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      Retail Space in Tempe Center

      Retail space available in a busy Tempe shopping center.
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      Tempe Retail Space For Rent

      Retail spaces available in desirable Tempe location with high traffic.
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    • $28 SF/Yr
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      Tempe Retail Space For Rent

      Retail space with great visibility and easy freeway access.
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      View Details
    • Contact for pricing
      1,588 SF

      Retail Space Near Trader Joe's

      Retail space available in a Trader Joe's anchored shopping center.
      6404-6454 S Mcclintock Dr, Tempe, AZ 85283
      View Details
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    Tempe, AZ 85283
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    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
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