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    Property profile & analytics

    9111 S Hardy Dr Tempe, AZ 85284

    • Industrial properties
    • 3,000 SF
    • 0.97 lot acres
    For Lease
    View listing
    $10,500 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0541286
    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

    • Industrial properties

    Property Details for 9111 S Hardy Dr

    Year built
    1993
    Construction
    STEEL FRAME
    Lot size
    0.97 lot acres
    Property size
    3,000 SF
    Zone code
    GID
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    301-60-003P
    APU
    30160003P

    Description

    This exceptional Tempe industrial property offers a ±0.96-acre lot (42,079 square feet) encompassing two buildings totaling 6,000 square feet. Ideally situated near major freeways—I-10, Loop 101, and Loop 202—this property provides unparalleled access to transportation networks. The site is fully secured with a block wall, ensuring both privacy and security. Zoned GID by the City of Tempe, this versatile property is perfect for a variety of industrial uses. Building 1, approximately 3,000 square feet, features two grade-level doors, a reception area, breakroom, three private offices, storage space, and is fully air-conditioned. Building 2, also approximately 3,000 square feet, offers four grade-level doors and is entirely dedicated to warehouse/shop space with evaporative cooling. The property boasts substantial power: 1,200 amps, 480V, 3-phase (tenant to verify). This single-tenant property presents a unique opportunity for businesses seeking a strategic location and functional space in the thriving Tempe market. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,173,000
      Market price range: $420k - $3.17M
      AI Estimate
      $3,173,000
      Market price range: $420k - $3.17M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,060,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.954
    Latitude
    33.3303
    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
    $9,597
    $0.00
    $0.00
    $134,129
    -
    $527,800
    $285,100
    $812,900

    Comparable in this City

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      $10,545,000
      12,224 SF

      685 Elliot Rd

      INDUSTRIAL LOFT BUILDING • 12,224 SF
      685 Elliot Rd, Tempe, AZ 85284-1244
      View Details
    • Value Estimation
      $18,355,000
      25,340 SF

      1020 Rnch Rd

      INDUSTRIAL LOFT BUILDING • 25,340 SF
      1020 Rnch Rd, Tempe, AZ 85284-2011
      View Details
    • Value Estimation
      $25,410,000
      45,472 SF

      9145 Farmer Ave

      INDUSTRIAL LOFT BUILDING • 45,472 SF
      9145 Farmer Ave, Tempe, AZ 85284
      View Details
    • Value Estimation
      $17,665,000
      19,260 SF

      615 Elliot Rd

      INDUSTRIAL LOFT BUILDING • 19,260 SF
      615 Elliot Rd, Tempe, AZ 85284-1244
      View Details
    • Value Estimation
      $10,150,000
      72,166 SF

      9235 Mckemy St

      INDUSTRIAL LOFT BUILDING • 72,166 SF
      9235 Mckemy St, Tempe, AZ 85284-2938
      View Details
    • Value Estimation by Request
      40,360 SF

      9365 Mckemy St

      INDUSTRIAL LOFT BUILDING • 40,360 SF
      9365 Mckemy St, Tempe, AZ 85284-2956
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Tempe Industrial Opportunity

      Industrial property for sale in the heart of Tempe.
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      Tempe Flex Space: Owner/User Opportunity

      High-income, Class A flex space in Tempe, AZ.
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      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
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    • $6,295,000
      26,492 SF

      Tempe Warehouse with 1600 Amps

      26,492 SF warehouse featuring 1,600 Amps power and evaporative cooling.
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      42,665 SF

      Air Conditioned Warehouse Space

      42,665 SF warehouse with A/C and office space.
      1310 W Drivers Way, Tempe, AZ 85284
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    Similar Nearby for Lease

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      20,548 SF

      Versatile Industrial/Office/Showroom Space Available

      Divisible industrial/office/showroom space with high ceilings and ample parking.
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    • $17 SF/Yr
      61,997 SF

      Tempe Flex Space: 62,000 SF Available

      Large Tempe industrial flex space for lease. Ideal for diverse businesses.
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      View Details
    • Contact for pricing
      5,555 SF

      Tempe Warehouse with A/C

      5,555 SF warehouse space featuring full A/C.
      9185 S Farmer Ave, Tempe, AZ 85284
      View Details
    • Contact for pricing
      52,951 SF

      Tempe Industrial Space Available Now

      Industrial space for lease in Tempe, ranging from 25,000-52,951 SF.
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    • $1.25 SF/Yr
      33,382 SF

      Industrial Space with Office

      Industrial space featuring office area and warehouse with floor drains.
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      View Details
    • $7,500 /Mo
      3,900 SF

      Industrial Space with Storage Yard

      Industrial space for lease with shop, storage, and office.
      9259 S Priest Dr, Tempe, AZ 85284
      View Details
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    Tempe, AZ 85284
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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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