Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8700 Price Rd Tempe, AZ 85284

    • Office buildings
    • 115,050 SF
    • 9.63 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2320864
    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

    • Tech Data / Computer Hardware Manufacturer
    • ChargePoint Charging Station / Electric Vehicle Charging Station

    Property Details for 8700 Price Rd

    Year built
    2000
    Construction
    CONCRETE
    Lot size
    9.63 lot acres
    Property size
    115,050 SF
    Zone code
    AG
    Property type
    Office buildings
    APN
    301-53-327
    APU
    30153327

    Description

    This exceptional 132,070 square foot, two-story office building presents a unique owner-user opportunity within the prestigious Arizona State University Research Park in Tempe, Arizona. Built in 2000, this single-tenant building sits on a substantial 9.63-acre lot and boasts a generous parking ratio of approximately 5.0 spaces per 1,000 square feet. The property features a large commercial kitchen and an extensive dining area with lake views and an outdoor patio, perfect for employee amenities. The interior includes several large conference rooms, a mix of open office areas, and training rooms, providing flexibility for various business needs. The building is zoned AG, City of Tempe, and is situated on a ground lease extending until December 2101. This prime location offers immediate access to Loop 101, placing it strategically between downtown Tempe and the Price Corridor. The asking price is $13,850,000, translating to $104.87 per square foot. The property's location within the "Silicon Desert," known for its highly educated and youthful population, and its proximity to high-profile companies like Amazon, Walgreens, and GoDaddy, makes this an unparalleled investment opportunity. Occupancy is available July 22, 2024.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.895
    Latitude
    33.3385
    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
    $0.00
    $0.00
    $0.00
    $4,368,861
    -
    $4,839,400
    $24,286,341
    $29,125,741

    Comparable in this City

    • Value Estimation by Request
      25,716 SF

      8201 Hardy Dr

      OFFICE BUILDING • 25,716 SF
      8201 Hardy Dr, Tempe, AZ 85284-2023
      View Details
    • Value Estimation by Request
      9,632 SF

      7799 Autoplex Loop

      OFFICE BUILDING • 9,632 SF
      7799 Autoplex Loop, Tempe, AZ 85284-1021
      View Details
    • Value Estimation by Request
      13,023 SF

      8100 Priest Dr Ste, Unit 101

      OFFICE BUILDING • 13,023 SF
      8100 Priest Dr Ste, Tempe, AZ 85284-1057
      View Details
    • Value Estimation by Request
      5,182 SF

      2033 Warner Rd Ste, Unit 101

      OFFICE BUILDING • 5,182 SF
      2033 Warner Rd Ste, Tempe, AZ 85284-3417
      View Details
    • Value Estimation by Request
      16,109 SF

      430 Warner Rd Ste, Unit 111

      OFFICE BUILDING • 16,109 SF
      430 Warner Rd Ste, Tempe, AZ 85284-2967
      View Details
    • Value Estimation by Request
      21,342 SF

      605 Knox Rd

      OFFICE BUILDING • 21,342 SF
      605 Knox Rd, Tempe, AZ 85284-3802
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      135,000 SF

      New Shell Building in ASU

      Brand new 135,000 RSF shell building with parking garage.
      8240 S River Pkwy, Tempe, AZ 85284
      View Details
    • $2,000,000
      5,800 SF

      Tempe Office Building For Sale

      5,800 SF office building in Tempe, Arizona.
      9885 S Priest Dr, Tempe, AZ 85284
      View Details
    • $14,650,000
      97,686 SF

      Tempe Office Building: Owner/User Opportunity

      97,686 SF Office, ASU Research Park
      8333 River Pkwy, Tempe, AZ 85284
      View Details
    • $3,750,000
      12,000 SF

      Tempe Condo Suite with Showroom

      12,000 SF condo suite featuring office, showroom, and warehouse.
      1705-1725 W Ruby Dr, Tempe, AZ 85284
      View Details
    • $723,000
      1,819 SF

      Tempe Medical/Office Condo For Sale

      Medical and office condo in Tempe, Warner Rd. and 101.
      2169 E Warner Rd, Tempe, AZ 85284
      View Details
    • Contact for pricing
      61 SF

      Office and Warehouse Space Available

      Office and warehouse space featuring reception, conference room, and offices.
      1241 W Warner Rd | Tempe, Tempe, AZ 85284
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space in ASU Research Park

      Two-story office building located in ASU Research Park.
      8700 Price Rd, Tempe, AZ 85284
      View Details
    • $31 SF/Yr
      77 SF

      Tempe Office Building For Lease

      Two-story office building with mountain views and convenient highway access.
      8950 S 52Nd St, Tempe, AZ 85284
      View Details
    • $16 SF/Yr
      188,960 SF

      Two-Story Office Buildings in Tempe

      Two well-maintained office buildings with future development potential.
      8550 S Priest Dr, Tempe, AZ 85284
      View Details
    • Contact for pricing
      146,435 SF

      Tempe Office Building For Rent

      Office building with freeway pylon signage on Loop 101.
      2180 E Elliot Rd, Tempe, AZ 85284
      View Details
    • $25 SF/Yr
      1,535 SF

      Professional Office Suites For Lease

      Office suites available for lease in Tempe, Arizona.
      1-51 W Elliot Rd, Tempe, AZ 85284
      View Details
    • $30 SF/Yr
      48,570 SF

      Tempe Office Space: ASU Research Park

      Prime Tempe office space, multiple suites available.
      2085 Technology Cir, Tempe, AZ 85284
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8700 Price Rd
    Tempe, AZ 85284
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.