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Property profile & analytics
OFF-MARKET
Estimated value
$13,070,000
Hotels
5223 Priest Dr Tempe, AZ 85283-1043
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US07-0101223
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1998
Construction
STEEL FRAME
Total area
32,265 SF
Lot
3.37 ac (146,754 SF)
Zoning code
GID
APN
301-07-326
UPID
US07-0101223
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
-
TownePlace Suites Tempe at Arizona Mills Mall Hotel & Motel
-
5223 South Priest Drive Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.15M
Blend (final)
Blend
$13.07M
Owner & transaction history
Mcrt Tempe 1 Tenant LLC · 2 yrs held
Mcrt Tempe 1 Tenant LLC
since 2024
7 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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.
Zone name
General Industrial District
General category
INDUSTRIAL
Zone area
4,720.51 ac
Source
Realmo
Top alternative use upside
Industrial (general)
$17.1M
+32.8%
Retail stores
$17.0M
+32.3%
Neighborhood: shopping center
$16.2M
+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
$12,840,000
Current use
INDUSTRIAL (GENERAL)
$17,055,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$16,990,000
Change: +32% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$16,200,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$13.07M
Range $11.76M – $14.38M · ±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
$405 / 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
$104,120
Tax year 2023
Assessed value
$1,160,330
Assessed 2024
Previous assessed
$1,160,330
+0.0% YoY
Effective rate
8.97%
On assessed value
Land market value
$1,643,300
Improvement market value
$5,389,000
Total market value
$7,032,300
Applied tax rate
31,600.0000
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
1998
Construction
STEEL FRAME
Heating
NONE
Buildings
3
Stories
3
Units
119
Total area
32,265 SF
Lot
3.37 ac (146,754 SF)
Zoning code
GID
APN
301-07-326
UPID
US07-0101223
Jurisdiction
MARICOPA
Zoning & alternative use
GID · Tempe, AZZoning GID · permitted uses
GID · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
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.
Zone name
General Industrial District
General category
INDUSTRIAL
Zone area
4,720.51 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$12.8M
INDUSTRIAL (GENERAL)
Est. value
$17.1M
RETAIL STORES
Est. value
$17.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$16.2M
HOTEL/MOTEL Current
INDUSTRIAL (GENERAL)
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
1998
Construction
STEEL FRAME
Heating
NONE
Stories
3
Buildings
3
Units
119
Lot
3.37 ac
Current owner
From public records · entity-resolved
Mcrt Tempe 1 Tenant LLC
Entity
Mailing address
3200 OLYMPUS BLVD STE #400, COPPELL, TX 75019-5889
Ownership since
2024
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
Apr 16, 2024
—
Mcrt Tempe 1 Tenant LLC
Mcrt Tempe 1 LLC
Lease
$631,500,000 · Citi Real Estate Funding INC
Oct 16, 2018
—
Mcrt2 Avondale LLC
—
Grant Deed
related
$550,000,000 · Bank Of America
Jun 8, 2011
$5,310,000
Tempe Tps Reno Property LP
Apple Six Hospitality Ownershi
Grant Deed
$6,531,000 · Compass Bank
Jul 22, 2005
$5,722,000
Apple Six Hospitality Ownershi
Tatp Hotel Property
Grant Deed
—
Jun 29, 2004
—
Tatp Hotel Property
—
Deed Of Trust
related
$5,900,000 · Marriott Int'l Cap Corp
—
—
Mcrt Tempe 1 LLC 1
—
Deed Of Trust
$225,000,000 · Bank Of America
—
—
Tatp Hotel Property
—
Deed Of Trust
related
$4,500,000 · Gmac Commercial Mortgage Corp
—
—
Tatp Hotel Property
—
Deed Of Trust
related
$4,500,000 · Gmac Commercial Mortgage Corp
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.
Try Rey
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