422 S Madison Dr, Tempe, AZ 85281

Single-Tenant Industrial · Tempe · Phoenix metro, AZ

One of 338 reachable single-tenant industrial buildings in Tempe. Larger than 60% of single-tenant industrial buildings in Tempe (median 16,495 SF), derived from assessor records.

County gross building area
21,938 SF, Maricopa County Assessor
Lot size
56,000 SF, Maricopa County Assessor
Year built
1983, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Predominant use
Manufacture Durable/Nondurable Goods, Maricopa County Assessor
Assessed value
$3,619,300, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$164.98/SF, derived from assessor records
Building area / lot
0.39, derived from assessor records
Vintage
1980s vintage
County use code
MANUFACTURE DURABLE/NONDURABLE GOODS

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: $4.23M (estimated market value), with a likely range of $3.38M to $5.02M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $3,619,300 times a 1.17 market ratio, measured from 3891 verified arm's-length sale prices vs county values (single-tenant industrial sales in Tempe, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 5 comparable sales within 3 miles; nearest 0.3 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: Industrial in Tempe

median verified sale $244.58/SF over the trailing 24 months; 23 sales in the last 12 months and 49 in 24 (newest verified sale 2026-04); the middle 80% of recent sales traded at 0.98x to 1.61x their county full cash value, median 1.30x (49 sales with usable county values).

  • 2022: $170.34/SF median (13 sales)
  • 2023: $215.84/SF median (18 sales)
  • 2024: $211.86/SF median (31 sales)
  • 2025: $237.85/SF median (21 sales)
  • 2026 YTD: $311.94/SF median (6 sales)

This estimate sits at 1.17x county full cash value, the 35th percentile of those recent sale premiums.

Computed from 383 verified arm's-length sales in Maricopa County public records (49 in the trailing 24 months). Free public records. Not an appraisal.

Value over time

$0$2M$4M$6M20262027$4.23M$3.62MCounty 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 $3,410,000 (2026) to $3,619,300 (2027), up 6% over 1 years, per county tax rolls. The 2027 roll splits $3,619,300 into $970,000 land and $2,649,300 improvements.