1601 W Rio Salado Pkwy, Tempe, AZ 85281

Commercial · Tempe · Phoenix metro, AZ

One of 130 reachable commercial buildings in Tempe. Larger than 58% of commercial buildings in Tempe (median 51,720 SF), derived from assessor records.

County gross building area
61,602 SF, Maricopa County Assessor
Lot size
114,594 SF, Maricopa County Assessor
Year built
1999, Maricopa County Assessor
Stories
6, Maricopa County Assessor
Predominant use
Hotel 5 Or More Stories, Maricopa County Assessor
Assessed value
$11,233,454, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$182.36/SF, derived from assessor records
Building area / lot
0.54, derived from assessor records
Vintage
1990s vintage
County use code
HOTEL 5 OR MORE STORIES

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: $15.2M (estimated market value), with a likely range of $12.2M to $18M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $11,233,454 times a 1.35 market ratio, measured from 3891 verified arm's-length sale prices vs county values (commercial sales across the county, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 3 comparable sales within 3 miles; nearest 1.2 mi. This property type carries wider measured error; treat the estimate as a starting point.

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: Commercial in Tempe

median verified sale $238.68/SF over the trailing 24 months; 6 sales in the last 12 months and 8 in 24 (newest verified sale 2026-01); the middle 80% of recent sales traded at 0.27x to 3.04x their county full cash value, median 1.34x (8 sales with usable county values).

  • 2022: $298.10/SF median (5 sales)
  • 2025: $238.68/SF median (4 sales)

This estimate sits at 1.35x county full cash value, the 63rd percentile of those recent sale premiums.

Computed from 44 verified arm's-length sales in Maricopa County public records (8 in the trailing 24 months). Free public records. Not an appraisal.

Value over time

$0$5M$10M$15M$20M20262027$15.2M$11.2MCounty assessed valueMakeMe Estimate range

Dark line: county assessed value per Maricopa County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $10,926,976 (2026) to $11,233,454 (2027), up 3% over 1 years, per county tax rolls. The 2027 roll splits $11,233,454 into $1,867,500 land and $9,365,954 improvements.