1500 S Mill Ave, Tempe, AZ 85281

Office · Tempe · Phoenix metro, AZ

One of 885 reachable office buildings in Tempe. Larger than 97% of office buildings in Tempe (median 6,941 SF), derived from assessor records.

County gross building area
117,001 SF, Maricopa County Assessor
Lot size
417,190 SF, Maricopa County Assessor
Year built
1944, Maricopa County Assessor
Stories
3, Maricopa County Assessor
Buildings on parcel
2, Maricopa County Assessor
Predominant use
Hospital, Maricopa County Assessor
Assessed value
$50,552,048, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$432.07/SF, derived from assessor records
Building area / lot
0.28, derived from assessor records
Vintage
1940s vintage
County use code
HOSPITAL

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $60.9M (estimated market value), with a likely range of $48.7M to $72.2M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $50,552,048 times a 1.21 market ratio, measured from 3891 verified arm's-length sale prices vs county values (office sales in Tempe, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 5 comparable sales within 3 miles; nearest 1.7 mi. This property type carries wider measured error; treat the estimate as a starting point. Comparable-sale caveat: the estimate is well above (more than 3x apart from) the $165.35/SF median of the shown comparable sales.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Market context: Office in Tempe

median verified sale $207.20/SF over the trailing 24 months; 25 sales in the last 12 months and 44 in 24 (newest verified sale 2026-03); the middle 80% of recent sales traded at 0.73x to 1.61x their county full cash value, median 1.30x (44 sales with usable county values).

  • 2022: $147.06/SF median (26 sales)
  • 2023: $152.01/SF median (14 sales)
  • 2024: $241.84/SF median (26 sales)
  • 2025: $242.52/SF median (22 sales)
  • 2026 YTD: $165.68/SF median (4 sales)

This estimate sits at 1.21x county full cash value, the 43rd percentile of those recent sale premiums.

Computed from 279 verified arm's-length sales in Maricopa County public records (44 in the trailing 24 months). Free public records. Not an appraisal.

Current ownership dates to 2017 (about 9 years) per recorded transfers.

Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$20M$40M$60M$80M20262027$60.9M$50.6MCounty assessed value

Dark line: county assessed value per Maricopa County tax rolls.

Land, site, and value history

Assessed value moved from $42,513,384 (2026) to $50,552,048 (2027), up 19% over 1 years, per county tax rolls. The 2027 roll splits $50,552,048 into $29,774,710 land and $20,777,337 improvements.