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Property profile & analytics
FOR LEASE
Turn key restaurants
4 E University Dr, Tempe, AZ 85281
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US07-0731068
For Lease
1 / 2
$2,535,000
4 E University Dr, Tempe, AZ 85281
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1995
Construction
CONCRETE
Total area
7,204 SF
Lot
0.24 ac (10,550 SF)
Zoning code
C-C
APN
132-27-150A
UPID
US07-0731068
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pita Jungle Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.83M
Blend (final)
Blend
$2.54M
Owner & transaction history
Mill & University LLC · 11 yrs held
Mill & University LLC
since 2015
7 recorded transactions
Zoning & alternative use
C-C · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.54M
Range $2.28M – $2.79M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$352 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$31,141
Tax year 2023
Assessed value
$310,228
Assessed 2024
Previous assessed
$256,768
+20.8% YoY
Effective rate
10.04%
On assessed value
Land market value
$844,000
Improvement market value
$1,036,172
Total market value
$1,880,172
Applied tax rate
31,602.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1995
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
7,204 SF
Lot
0.24 ac (10,550 SF)
Zoning code
C-C
APN
132-27-150A
UPID
US07-0731068
Jurisdiction
MARICOPA
Zoning & alternative use
C-C · Tempe, AZ
Zoning C-C · permitted uses
C-C · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1995
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Mill & University LLC
Entity
Mailing address
201 N FRONTIER ST, WICKENBURG, AZ 85390-1419
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2015
—
Mill & University LLC
Frost,michael D & Renee K
Grant Deed
—
Jun 27, 2008
—
Michael D Frost
Frost,michael D
Quit Claim Deed
related
$1,950,000 · Meridian Bank
Oct 3, 1995
—
Michael D Frost
Renee K Frost
Quit Claim Deed
related
—
Aug 31, 1995
$175,000
Frost,michael D
City Of Tempe
Trustees Deed
—
—
—
Michael D Frost
—
Deed Of Trust
related
$100,000 · Bank One NA
—
—
Michael D Frost
—
Deed Of Trust
related
—
—
—
Michael Frost
—
Deed Of Trust
related
$150,000 · Meridian Bank
—
—
Michael D Frost
—
Deed Of Trust
related
$1,400,000 · Jb Holdings INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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