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1409 S Rural Rd
Tempe, AZ 85281
SEC Rural & Spence · Land For Sale
·
1.10 AC
Investment Highlights
- Multifamily-zoned land adjacent to Arizona State University's Tempe campus.
- Located within a designated Opportunity Zone.
- Convenient access to Loop 202, Loop 101, US 60, and Interstate 10.
- Frontage along both Rural Road and Spence Avenue enhances visibility.
- Walkable to Tempe Streetcar stations and Valley Metro Light Rail.
- Surrounded by established retail, dining, and university-related amenities.
Executive Summary
The property's location benefits from exceptional connectivity throughout the Phoenix metropolitan area. Two Tempe Streetcar stations are within walking distance, a major Valley Metro Light Rail station is approximately 1,700 feet away, and regional access is supported by nearby Loop 202, Loop 101, US 60, and Interstate 10. Phoenix Sky Harbor International Airport is approximately 10 minutes away, while downtown Phoenix can be reached in approximately 20 minutes.
The surrounding area is anchored by Arizona State University, one of the nation's largest public universities, supporting significant student, faculty, employee, and visitor activity throughout the year. Numerous walkable amenities are located nearby, including Safeway, Starbucks, Panda Express, CVS, Someburros, Taco Bell, and other neighborhood-serving retailers. The site is also located within a designated Opportunity Zone, potentially allowing qualifying investors to benefit from applicable Opportunity Zone tax incentives.
With multifamily zoning, university adjacency, extensive transit access, and proximity to major employment and transportation infrastructure, the property presents a compelling opportunity for residential or mixed-use oriented development in a highly established Tempe location.
Property Facts
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.10 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | ||
| Zoning | R-4 - Multifamily Residential | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.10 AC |
| Opportunity Zone |
Yes |
| Zoning | R-4 - Multifamily Residential |
1 Lot Available
Lot
| Price | $5,989,500 | Lot Size | 1.10 AC |
| Price Per AC | $5,445,000.00 |
| Price | $5,989,500 |
| Price Per AC | $5,445,000.00 |
| Lot Size | 1.10 AC |
±1.10-acre multifamily-zoned development site adjacent to Arizona State University. Opportunity Zone location with frontage on Rural Road and Spence Avenue, walkable to light rail, streetcar stations, retail amenities, and major corridor.
Description
The property consists of approximately ±1.10 acres located at the southeast corner of Rural Road and Spence Avenue in Tempe, Arizona. The site is zoned R-4 (Multi-Family Residential General) and has frontage on both Rural Road and Spence Avenue. The property is adjacent to Arizona State University's Tempe campus, within walking distance of two Tempe Streetcar stations, and approximately 1,700 feet from a Valley Metro Light Rail station. Regional access is provided by nearby Loop 202, Loop 101, US 60, and Interstate 10. The property is located within a designated Opportunity Zone.
