Add Listing
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

    950 Elliot Rd Tempe, AZ 85284

    • Office buildings
    • 42,626 SF
    • 1.78 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0787889
    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

    • Volt Workforce Solutions / Employment Agency
    • Lorber, Greenfield & Polito, LLP / Law Firm
    • Lightolier Inc / (Bike/Boat/Book/etc) Store / Hardware & Home Improvement
    • FedEx Drop Box / Postal Service / Courier Service
    • Wilde Wealth Management Group / Financial Advisor

    Property Details for 950 Elliot Rd

    Year built
    1999
    Construction
    STEEL FRAME
    Lot size
    1.78 lot acres
    Property size
    42,626 SF
    Zone code
    GID
    Property type
    Office buildings
    APN
    301-90-005F
    APU
    30190005F

    Description

    Acacia Court offers 105,281 square feet of Class B office space in two, two-story buildings, situated on 950-960 W Elliot Rd, Tempe, AZ 85284. This multi-tenant complex boasts high-end finishes and an attractive central courtyard. The property features 6 available spaces ranging from 1,613 to 8,199 square feet, ideal for businesses seeking executive or creative office environments. Located in the desirable South Tempe/Ahwatukee submarket, Acacia Court benefits from exceptional access to major transportation arteries. Elliot Road, a primary east-west thoroughfare, provides convenient commutes throughout Tempe, Mesa, Gilbert, and Chandler. Furthermore, the property enjoys proximity to Interstate 10, US 60 Superstition Freeway, and Loop 101 Freeway, ensuring easy access to all of metropolitan Phoenix and Phoenix Sky Harbor International Airport. The property offers a generous 4.1/1,000 parking ratio, ensuring ample parking for tenants and their guests. Built in 2000, this Maricopa County property presents a compelling opportunity for businesses seeking a well-located, high-quality office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $15,814,000
      Market price range: $4.53M - $15.8M
      AI Estimate
      $15,814,000
      Market price range: $4.53M - $15.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,950,000
      Current use
      INDUSTRIAL (GENERAL)
      $22,535,000
      Change: +126% Conversion: Difficult
      RETAIL STORES
      $22,445,000
      Change: +126% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $21,400,000
      Change: +115% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tempe
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.954
    Latitude
    33.3497
    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
    $201,470
    $0.00
    $0.00
    $2,374,697
    -
    $973,400
    $13,418,700
    $14,392,100

    Comparable in this City

    • Value Estimation
      $35,295,000
      95,133 SF

      8555 Riv Pkwy

      OFFICE BUILDING • 95,133 SF
      8555 Riv Pkwy, Tempe, AZ 85284-2601
      View Details
    • Value Estimation
      $47,460,000
      127,916 SF

      8333 Riv Pkwy

      OFFICE BUILDING • 127,916 SF
      8333 Riv Pkwy, Tempe, AZ 85284-2616
      View Details
    • Value Estimation by Request
      156,022 SF

      7700 Riv Pkwy

      OFFICE BUILDING • 156,022 SF
      7700 Riv Pkwy, Tempe, AZ 85284-1808
      View Details
    • Value Estimation
      $22,930,000
      61,800 SF

      2050 Asu Cir

      OFFICE BUILDING • 61,800 SF
      2050 Asu Cir, Tempe, AZ 85284-1839
      View Details
    • Value Estimation
      $8,380,000
      22,588 SF

      2055 Centennial Cir

      OFFICE BUILDING • 22,588 SF
      2055 Centennial Cir, Tempe, AZ 85284-1802
      View Details
    • Value Estimation
      $30,120,000
      81,179 SF

      8950 52nd St

      OFFICE BUILDING • 81,179 SF
      8950 52nd St, Tempe, AZ 85284-1046
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      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
    • $1,999,500
      5,800 SF

      Modern Tempe Office Building

      5,800 SF move-in ready office building in Tempe, Arizona.
      9885 S Priest Dr, Tempe, AZ 85284
      View Details
    • 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
    • $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
    • $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
    • $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

    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
    • 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
    • $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
    • Contact for pricing
      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
      55,000 SF

      ASU Research Park Office Space

      Modern Office Building; Abundant Parking
      0 Innovation Cir, Tempe, AZ 85284
      View Details
    • Contact for pricing
      1,613 SF

      Tempe Office Space For Rent

      Two-building office complex featuring high-end finishes and attractive courtyard.
      960 W Elliot Rd, 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.
    950 Elliot 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.
    Sign Up Successful!
    You now have access to more from Realmo!