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903 N Miller Rd
Tempe, AZ 85288
Land For Sale
·
1.80 AC
INVESTMENT HIGHLIGHTS
- Located in Qualified Tempe Opportunity Zone
- 1.8 Acres (78,278 SF)
- Economically Resilient Submarket
- Tempe: Home to Arizona State University; the Largest University in the Nation
- Incredible Freeway Access
- Located directly on the green belt, boasting a large number of outdoor activities
EXECUTIVE SUMMARY
This rare investment opportunity is positioned just north of Tempe Town Lake, in Downtown Tempe’s Opportunity Zone, nestled near the heart of the economically thriving Tempe submarket. This Class A apartment development land promises unparalleled potential for investors as it is fully entitled and PAD approved, completely de-risking the site from any zoning hurdles thus expediting vertical construction. Designed with modern aesthetics and functionality in mind, the planned 6-story apartment complex is set to comprise an array of 207 units, encompassing 53 studios, 108 one-bedroom units, and 46 two-bedroom units. Spread over a 1.8 AC parcel, the property boasts a gross square footage of 303,984 and is thoughtfully zoned as PAD Tempe, ensuring compliance with regional development guidelines. The blueprint has been meticulously crafted to provide a parking ratio of 1.75 spots per door, anticipating the mobility needs of future resident
PROPERTY FACTS
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 1.80 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | ||
| Zoning | PAD - PAD, Planned Development | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 1.80 AC |
| Opportunity Zone |
Yes |
| Zoning | PAD - PAD, Planned Development |
1 LOT AVAILABLE
Lot
| Price | $7,100,000 | Lot Size | 1.80 AC |
| Price Per AC | $3,944,444.44 |
| Price | $7,100,000 |
| Price Per AC | $3,944,444.44 |
| Lot Size | 1.80 AC |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $152,388 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$152,388
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