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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6718 Harl Ave Tempe, AZ 85283-4374

    • Distribution centers
    • 148,857 SF
    • 8.42 lot acres
    OFF-MARKET
    Last Sale
    Aug 11, 2023
    $28,487,825
    Value Estimations
    $28,460,000
    Show details
    Cap Rate Potential
    6.4%
    Distribution centers
    Location Intelligence
    Property ID
    US07-0832842
    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.

    Current Use by Public Records

    • Bunzl Phoenix / Distribution Service

    Property Details for 6718 Harl Ave

    Year built
    1994
    Construction
    CONCRETE
    Lot size
    8.42 lot acres
    Property size
    148,857 SF
    Zone code
    GID
    Property type
    Distribution centers
    APN
    301-42-032A
    APU
    30142032A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $25,675,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $27,415,000
      6.5%
      $25,305,000
      7%
      $23,495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $31,398,000
      Market price range: $22.1M - $38.5M
      AI Estimate
      $31,398,000
      Market price range: $22.1M - $38.5M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $28,605,000
      Current use
      OFFICE BUILDING
      $37,150,000
      Change: +30% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.968
    Latitude
    33.3593
    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
    $144,496
    $0.00
    $0.00
    $3,936,224
    -
    $3,684,000
    $20,171,900
    $23,855,900

    Comparable in this City

    • Value Estimation
      $32,095,000
      155,458 SF

      6655 Kyrene Rd

      DISTRIBUTION WAREHOUSE • 155,458 SF
      6655 Kyrene Rd, Tempe, AZ 85283-5461
      View Details
    • Value Estimation
      $22,095,000
      133,024 SF

      455 Diamond Dr

      DISTRIBUTION WAREHOUSE • 133,024 SF
      455 Diamond Dr, Tempe, AZ 85283-3668
      View Details
    • Value Estimation
      $12,315,000
      65,540 SF

      475 Vaughn St

      DISTRIBUTION WAREHOUSE • 65,540 SF
      475 Vaughn St, Tempe, AZ 85283-3672
      View Details
    • Value Estimation
      $3,415,000
      16,867 SF

      1544 Mineral Rd

      DISTRIBUTION WAREHOUSE • 16,867 SF
      1544 Mineral Rd, Tempe, AZ 85283
      View Details
    • Value Estimation
      $3,540,000
      17,700 SF

      6760 Clementine Ct

      DISTRIBUTION WAREHOUSE • 17,700 SF
      6760 Clementine Ct, Tempe, AZ 85283-4323
      View Details
    • Value Estimation
      $10,825,000
      69,084 SF

      5333 Kyrene Rd

      DISTRIBUTION WAREHOUSE • 69,084 SF
      5333 Kyrene Rd, Tempe, AZ 85283-1703
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      202,941 SF

      Tempe Industrial Park with Visibility

      202,941 SF industrial space with I-10 visibility.
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      9,558 SF industrial building in a dynamic Tempe location.
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      Tempe Light Industrial Investment

      1.32-acre property, high-value potential.
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    • $4,500,000
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      Prime Location Retail Opportunity

      High-traffic location near I-10 and Arizona Mills.
      1424 W Baseline Rd, Tempe, AZ 85283
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      Tempe Medical/Legal Investment Opportunity

      NNN investment opportunity near the 101 Freeway in Tempe.
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    • $136,000
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      Vacant Lot in Guadalupe, AZ

      Vacant lot with utilities ready for builders in Guadalupe.
      8610 S Calle Maravilla --, Guadalupe, AZ 85283
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    Similar Nearby for Lease

    • $15 SF/Yr
      193,868 SF

      Tempe Warehouse Space Available

      Modern Tempe warehouse, 3,955 SF available.
      125 Gemini Dr, Tempe, AZ 85283
      View Details
    • $15 SF/Yr
      193,868 SF

      Tempe Industrial Space For Lease

      193,868 SF Multi-Tenant Industrial Building
      148 Orion St, Tempe, AZ 85283
      View Details
    • Contact for pricing
      19,736 SF

      Tempe Industrial Complex Space Available

      Industrial complex with truckwell, dock high, and grade level loading.
      7160 S Harl Ave, Tempe, AZ 85283
      View Details
    • Contact for pricing
      2,938 SF

      Tempe Industrial Space Available

      Industrial complex with truckwell, dock high, and grade level loading.
      1829 W Drake Dr, Tempe, AZ 85283
      View Details
    • Contact for pricing
      30,000 SF

      Tempe Industrial Complex Space Available

      Industrial complex with truckwell, dock high, and grade level loading.
      1839 W Drake Dr, Tempe, AZ 85283
      View Details
    • Contact for pricing
      2,800 SF

      Tempe Industrial Complex Space Available

      Industrial complex with truckwell, dock high, and grade level loading.
      1825 W Drake Dr, Tempe, AZ 85283
      View Details
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    Tempe, AZ 85283-4374
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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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