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1501 E Apache Blvd 4,950 SF 100% Leased Retail Building Tempe, AZ 85281 $2,500,000 ($505.05/SF) 5.38% Cap Rate
Investment Highlights
- NNN - 100% leased to Amazon Prime Now, providing immediate and reliable income.
- Positioned near Arizona State University and a Valley Metro Light Rail stop for strong connectivity.
- Surrounded by dense residential neighborhoods and major commercial corridors.
- Located within a federally designated Opportunity Zone with potential tax incentives.
- ±4,950 SF freestanding building with masonry construction and flexible layout.
- Situated in a high-traffic area with excellent visibility and long-term growth potential.
Executive Summary
Stabilized retail property with built-in rental income growth located in the heart of Tempe, Arizona. The property is 100% NNN leased to Amazon Prime Now, a globally-recognized tenant delivering consistent and reliable income. The investment provides a strong return backed by a creditworthy tenant. Built in 2005, the ±4,950 SF building sits within a federally designated Opportunity Zone, offering potential tax advantages for long-term investors. The site is strategically positioned near Arizona State University and just a half-block from a Valley Metro Light Rail stop (ensuring excellent accessibility and visibility in a high-traffic corridor). The surrounding area benefits from robust demographics, including a dense employment base and new apartments with robust consumer spending, driven by the university and nearby business districts.
This asset combines secure cash flow, a premier location, and the stability of a nationally recognized tenant, making it an attractive addition to any investment portfolio.
This asset combines secure cash flow, a premier location, and the stability of a nationally recognized tenant, making it an attractive addition to any investment portfolio.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
4,950 SF
Building Class
B
Year Built
2005
Price
$2,500,000
Price Per SF
$505.05
Cap Rate
5.38%
NOI
$134,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.39 AC
Opportunity Zone
Yes
Zoning
CSS - Commercial
Parking
20 Spaces (4.04 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 133-07-010B | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $105,991 |
Property Taxes
Parcel Number
133-07-010B
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$105,991
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1501 E Apache Blvd