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    3222 Hardy Dr Tempe, AZ 85282-3323
    Property profile & analytics

    3222 Hardy Dr, Tempe, AZ 85282-3323

    View on Map
    • Retail space
    • 2,430 SF
    • 0.51 lot acres
    Off-Market
    Last Sale Feb 18, 2022
    $695,000
    Property ID
    US07-1025637
    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.
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    4.4%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Desert Designer LLC / Landscaping / General Contractor
    • Desert Designer Landscape & Development / Landscaping / General Contractor
    • Desert designer / Landscaping / General Contractor

    Property Details for 3222 Hardy Dr

    Year built
    1962
    Construction
    CONCRETE
    Lot size
    0.51 lot acres
    Zone code
    GID
    Property type
    Retail space
    APN
    123-40-002B
    APU
    12340002B

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 18, 2022 $695,000 Desertdesigner LLC Jeneff Partners II LLC Special Warranty Deed $591k · Midfirst Bank
    Jan 7, 2015 $278,500 Jeneff Partners II LLC Vick Commercial LLC Grant Deed —
    Mar 26, 2008 — Vick Commercial LLC Vick,roy D & Barbara G Quit Claim Deed —
    Mar 11, 1991 $119,500 William Thompson Williams Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $470,000
      6.5%
      $435,000
      7%
      $405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $780,000
      Market price range: $314k - $2.32M
      AI Estimate
      $766,000
      Market price range: $314k - $2.32M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.952
    Latitude
    33.3936
    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
    $5,979
    $0.00
    $0.00
    $58,484
    -
    $203,300
    $151,148
    $354,448

    Comparable in this City

    • Value Estimation
      $4,430,000
      6,773 SF

      2180 Southern Ave

      RETAIL STORES (PERSONAL SERVICES)
      2180 Southern Ave, Tempe, AZ 85282-7504
      View Details
    • Value Estimation
      $1,660,000
      4,860 SF

      2010 Rural Rd

      RETAIL STORES (PERSONAL SERVICES)
      2010 Rural Rd, Tempe, AZ 85282-1408
      View Details
    • Value Estimation
      $1,690,000
      1,771 SF

      4475 Rural Rd

      RETAIL STORES (PERSONAL SERVICES)
      4475 Rural Rd, Tempe, AZ 85282-7012
      View Details
    • Value Estimation
      $8,960,000
      9,384 SF

      2727 Southern Ave

      RETAIL STORES (PERSONAL SERVICES)
      2727 Southern Ave, Tempe, AZ 85282-4254
      View Details
    • Value Estimation
      $3,520,000
      3,687 SF

      3108 Mcclintock Dr

      RETAIL STORES (PERSONAL SERVICES)
      3108 Mcclintock Dr, Tempe, AZ 85282-8006
      View Details
    • Value Estimation by Request
      1,280 SF

      3400 Ml Ave

      RETAIL STORES (PERSONAL SERVICES)
      3400 Ml Ave, Tempe, AZ 85282-4960
      View Details

    Similar Nearby for Sale

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      Retail Property Near Loop 101

      Retail property with existing building and access to Loop 101.
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      Prime Retail Space Available

      30,000 SF retail space in a prime location.
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    • $882,050
      1,495 SF

      Retail Space in Tempe, Arizona

      Retail space available for sale in Tempe, Arizona.
      410 E Southern Ave, Tempe, AZ 85282
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      3,230 SF

      Tempe Hard Corner Building

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      Fully fixturized restaurant for sale in a bustling Tempe location.
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    Similar Nearby for Lease

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      1,277 SF

      Retail Space on Broadway Road

      Retail space in high-traffic Tempe location near ASU.
      1537 W Broadway Rd, Tempe, AZ 85282
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    • Contact for pricing
      1,201 SF

      Retail Space Near ASU

      Retail space for lease near Downtown Tempe and ASU.
      764-790 W Broadway Rd, Tempe, AZ 85282
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      Retail Space Near Aldi Grocery

      Retail space available near Aldi Grocery and Arizona State University.
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      Retail Space Near ASU

      Retail space in Tempe, close to ASU and Downtown.
      764 W Broadway Rd, Tempe, AZ 85282
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Tempe, Arizona

      Retail space available in Tempe with high traffic intersection.
      5136 S Rural Rd, Tempe, AZ 85282
      View Details
    • Contact for pricing
      11,750 SF

      Tempe Retail Space Available

      Retail space in Tempe with high traffic and nearby apartments.
      1711-1753 E Bwy Rd, Tempe, AZ 85282
      View Details
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    Tempe, AZ 85282-3323
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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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