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Property profile & analytics
OFF-MARKET
Estimated value
$65,015,000
Office buildings
615 Riv Dr Tempe, AZ 85288-0252
Individually Owned
7-yr Hold
Free & Clear
Property ID
US07-1131216
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
CONCRETE
Total area
184,526 SF
Lot
0.96 ac (42,000 SF)
Zoning code
GID
APN
132-37-164
UPID
US07-1131216
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
-
Oscar Health Hub Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$65.31M
Blend (final)
Blend
$65.02M
Owner & transaction history
Sop 615 S River Drivellc · 7 yrs held
Sop 615 S River Drivellc
since 2019
6 recorded transactions
Zoning & alternative use
GID · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$97.2M
+88.8%
Neighborhood: shopping center
$92.7M
+80.0%
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
OFFICE BUILDING
$51,460,000
Current use
RETAIL STORES
$97,170,000
Change: +89% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$92,650,000
Change: +80% · Conversion: Difficult
Blend value · Realmo final
$65.02M
Range $58.51M – $71.52M · ±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
$202,349
Tax year 2023
Assessed value
$6,098,367
Assessed 2024
Previous assessed
$5,646,499
+8.0% YoY
Effective rate
3.32%
On assessed value
Land market value
$1,386,000
Improvement market value
$35,573,800
Total market value
$36,959,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1982
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
184,526 SF
Lot
0.96 ac (42,000 SF)
Zoning code
GID
APN
132-37-164
UPID
US07-1131216
Jurisdiction
MARICOPA
Zoning & alternative use
GID · Tempe, AZ
Zoning GID · permitted uses
GID · 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
OFFICE BUILDING Current
Est. value
$51.5M
RETAIL STORES
Est. value
$97.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$92.7M
OFFICE BUILDING 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
1982
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Sop 615 S River Drivellc
Individual
Free & Clear · 7 yrs held
Mailing address
2390 E CAMELBACK RD STE #320, PHOENIX, AZ 85016-3466
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2019
$46,000,000
Sop 615 S River Drivellc
South River Associatesllc
Grant Deed
—
Jul 8, 2014
$11,415,000
Alliance Coml Ptrs LLC
Jabil Circuit INC
Grant Deed
—
Mar 11, 2005
$15,000
Jabil Circuit INC
Varian INC
Grant Deed
—
Apr 6, 1999
—
Varian INC
Varian Associates INC
Quit Claim Deed
related
—
—
—
Sop 615 S River Drive LLC
—
Deed Of Trust
related
—
—
—
South River Associates LLC
—
Deed Of Trust
related
$5,000,000 · Wells Fargo Bk
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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