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Property profile & analytics
OFF-MARKET
Estimated value
$17,695,000
Hotels
511 Farmer Ave, Tempe, AZ 85281-2836
Entity Owned
~
Est. High Equity
Property ID
US07-2244394
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2021
Total area
49,155 SF
Lot
1.26 ac (54,736 SF)
Zoning code
PAD
APN
124-33-364
UPID
US07-2244394
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
-
UpBar Tempe Bar & Pub
-
Tempe Taco Supply Restaurant
-
Cousins Maine Lobster Tempe Restaurant Restaurant
-
Cousins Maine Lobster Restaurant - Tempe Restaurant
-
Vīb Hotel by Best Western Phoenix-Tempe Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.50M
Blend (final)
Blend
$17.70M
Owner & transaction history
Roan Antelope LLC
Roan Antelope LLC
since 2026
Last sale
$17.0M
4 recorded transactions
Zoning & alternative use
PAD · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$25.9M
+32.3%
Neighborhood: shopping center
$24.7M
+26.2%
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
Alternative Use
Use
Estimation
HOTEL/MOTEL
$19,565,000
Current use
RETAIL STORES
$25,885,000
Change: +32% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$24,680,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$17.70M
Range $15.93M – $19.46M · ±10% · vs last sale $17.00M (Jan 22 2026)
Last sale anchor
$17.00M
Jan 22 2026
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
$360 / 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
$115,984
Tax year 2023
Assessed value
$1,632,816
Assessed 2024
Previous assessed
$61,506
+2,554.7% YoY
Effective rate
7.10%
On assessed value
Land market value
$402,100
Improvement market value
$9,493,754
Total market value
$9,895,854
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2021
Heating
NONE
Stories
5
Units
102
Total area
49,155 SF
Lot
1.26 ac (54,736 SF)
Zoning code
PAD
APN
124-33-364
UPID
US07-2244394
Jurisdiction
MARICOPA
Zoning & alternative use
PAD · Tempe, AZ
Zoning PAD · permitted uses
PAD · 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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$19.6M
RETAIL STORES
Est. value
$25.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$24.7M
HOTEL/MOTEL Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2021
Heating
NONE
Stories
5
Units
102
Lot
1.26 ac
Current owner
From public records · entity-resolved
Roan Antelope LLC
Entity
Mailing address
6201 N 24TH PKWY, PHOENIX, AZ 85016-2023
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2026
$17,000,000
Roan Antelope LLC
Bwi Devco Tempe LLC
Special Warranty Deed
$16,000,000 · Bwi Devco LLC
Oct 2, 2020
—
Bwi Devco Tempe LLC
—
Deed
related
$15,295,734 · Umb Bank NA
Dec 6, 2019
$3,700,000
Bwi Devco Tempe LLC
Bw Land Holdings LLC
Grant Deed
—
Dec 6, 2019
—
Bw Land Holdings LLC
Farmer Arts Lot 4 LLC
Grant Deed
related
—
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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