5000 S Arizona Mills Cir, Tempe, AZ 85282

Retail · Tempe · Phoenix metro, AZ

One of 765 reachable retail buildings in Tempe. Larger than 100% of retail buildings in Tempe (median 5,529 SF), derived from assessor records.

County gross building area: 1,479,006 SF, Maricopa County Assessor
Lot size: 3,700,747 SF, Maricopa County Assessor
Year built: 1997, Maricopa County Assessor
Stories: 1, Maricopa County Assessor
Buildings on parcel: 21, Maricopa County Assessor
Predominant use: Regional Shopping Center Enclosed Mal, Maricopa County Assessor
Assessed value: $210,430,035, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF: $142.28/SF, derived from assessor records
Building area / lot: 0.4, derived from assessor records
Vintage: 1990s vintage
County use code: REGIONAL SHOPPING CENTER ENCLOSED MAL

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Sale history and market context

MakeMe Estimate: $266M (estimated market value), with a likely range of $212M to $315M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $210,430,035 times a 1.26 market ratio, measured from 61 retail sales in Tempe within a 3,891-sale countywide calibration (since 2022-01, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: parcel-level comparable support is thin; treat the estimate as a starting point.

Comparable sales

No nearby verified sales clear our evidence bar for this building right now. We show only real arm's-length sales inside the market's $/SF integrity band, never junk transfers.

Market context: Retail in Tempe

median verified sale $366.39/SF over the trailing 24 months; 20 sales in the last 12 months and 36 in 24 (newest verified sale 2026-01); the middle 80% of recent sales traded at 0.71x to 2.31x their county full cash value, median 1.41x (36 sales with usable county values).

2022: $420.83/SF median (16 sales)
2023: $212.10/SF median (13 sales)
2024: $294.12/SF median (14 sales)
2025: $449.30/SF median (14 sales)

This estimate sits at 1.26x county full cash value, the 47th percentile of those recent sale premiums.

Computed from 265 verified arm's-length sales in Maricopa County public records (36 in the trailing 24 months). Free public records. Not an appraisal.

Value over time

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.