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    8058 Priest Dr Tempe, AZ 85284-1020
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    Property profile & analytics

    8058 Priest Dr, Tempe, AZ 85284-1020

    View on Map
    • Strip malls
    • 18,091 SF
    • 2.00 lot acres
    Off-Market
    Property ID
    US07-1581082
    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.
    Value Estimations
    $11,750,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • OMNEAN Corporate Office / Training Center / Vocational School
    • David Weekley Homes Phoenix Division Office / Construction Company / General Contractor
    • Advanced Massage Arts & Education / Alternative Medicine Practice / Spa & Massage Center
    • Perfect Dreamer Sleep Shop / Furniture & Home Goods / Home Decor Store

    Property Details for 8058 Priest Dr

    Year built
    2005
    Construction
    CONCRETE
    Lot size
    2.00 lot acres
    Zone code
    GID
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    301-54-918
    APU
    30154918

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 10, 2011 $1,330,000 Bbb Priest Road Property LLC Minkin,ethan B Trustees Deed · related —
    Aug 25, 2006 $1,204,535 Green Family Trust Priest Drive Busn Center LLC Grant Deed $1.6M · National Bank Arizona
    May 30, 2006 $3,228,818 Matt Building 1 LLC Lge Corp Grant Deed $3.2M · Irwin Union Bank Fsb
    Sep 26, 2005 — Lge Corp — Trustees Deed · related $2.7M · Irwin Union Bank Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,047,000
      Market price range: $4.61M - $14.9M
      AI Estimate
      $11,447,000
      Market price range: $4.24M - $14.4M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $9,085,000
      Current use
      RESTAURANT
      $12,610,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $12,435,000
      Change: +37% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $9,565,000
      Change: +5% Conversion: Difficult
      RETAIL STORES
      $9,525,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.964
    Latitude
    33.3435
    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
    $36,329
    $0.00
    $0.00
    $605,878
    -
    $1,330,200
    $2,341,785
    $3,671,985

    Comparable in this City

    • Value Estimation
      $9,690,000
      13,716 SF

      9920 Rural Rd

      SHOPPING CENTER, STRIP CENTER
      9920 Rural Rd, Tempe, AZ 85284-4100
      View Details
    • Value Estimation
      $1,205,000
      4,928 SF

      440 Warner Rd

      SHOPPING CENTER, STRIP CENTER
      440 Warner Rd, Tempe, AZ 85284-2966
      View Details
    • Value Estimation
      $18,365,000
      26,488 SF

      1006 Warner Rd

      SHOPPING CENTER, STRIP CENTER
      1006 Warner Rd, Tempe, AZ 85284-3226
      View Details
    • Value Estimation
      $3,725,000
      4,606 SF

      2020 Elliot Rd Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER
      2020 Elliot Rd Ste, Tempe, AZ 85284-1809
      View Details
    • Value Estimation
      $10,595,000
      13,100 SF

      7650 Mcclintock Dr Ste, Unit 110

      SHOPPING CENTER, STRIP CENTER
      7650 Mcclintock Dr Ste, Tempe, AZ 85284-1674
      View Details
    • Value Estimation
      $1,760,000
      7,000 SF

      1700 Elliot Rd Ste, Unit 3

      SHOPPING CENTER, STRIP CENTER
      1700 Elliot Rd Ste, Tempe, AZ 85284-1631
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Fry's Shopping Center Retail Space

      Retail space available in Tempe's established, affluent neighborhood.
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      12,000 SF

      Tempe Condo Suite with Showroom

      12,000 SF condo suite featuring office, showroom, and warehouse.
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    • $4,280,000

      Tempe Crossing Drive-Thru Investment

      Fully leased, two-tenant property with drive-thru in Tempe, Arizona.
      9895 S Priest Dr, Tempe, AZ 85284
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      24,888 SF

      Tempe Retail Showroom For Sale

      Retail showroom with truckwell and ample parking in Tempe, AZ.
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      5,634 SF

      Tempe Retail Space For Sale

      Retail space available in Tempe, Arizona, 5.20% CAP.
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      5,546 SF

      Retail Building Near IKEA

      5,546 SF retail building with attractive patio and landscaping.
      8425 S Emerald Dr, Tempe, AZ 85284
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    Similar Nearby for Lease

    • Contact for pricing
      3,770 SF

      Retail Space Available For Lease

      Retail spaces available from 1,168 to 3,770 SF.
      1721-1761 E Warner Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      13,000 SF

      Tempe Retail Space For Rent

      Retail space available in a high-traffic Tempe shopping center.
      8538-8550 S Emerald Dr, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,300 SF

      Tempe Retail Space For Rent

      Retail space available in Tempe, anchored by Costco.
      1275 W Elliot Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      27,000 SF

      Retail Development in Affluent Neighborhood

      Retail and restaurant spaces available in Tempe, Arizona.
      8770 S Rural Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space Near ASU Research

      Retail space available near ASU Research with anchor tenants.
      1860 E Warner Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,193 SF

      Corner Retail Space Available

      Retail space with high traffic and signage opportunities.
      315 W Elliot Rd, Tempe, AZ 85284
      View Details
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    Tempe, AZ 85284-1020
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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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