Supplements: This area of Tempe is not only popular because of the university but because it's also one of the most desirable areas in all of Arizona to live and work. The 501 East Broadway development opportunity consists of 0.71 acres of land zoned Residential-Office (R-O). Given its location along a major arterial, all off-site improvements are in place an ... (Read more) This area of Tempe is not only popular because of the university but because it's also one of the most desirable areas in all of Arizona to live and work. The 501 East Broadway development opportunity consists of 0.71 acres of land zoned Residential-Office (R-O). Given its location along a major arterial, all off-site improvements are in place an all utilities are to the site. The location and zoning offers a number of options for an investor/ developer, with a small residential development or office complex being good options. This site would be ideal for: A small residential for-sale product, small rental community, office complex, or business location for an end-user. Tempe continues to be one of the most sought after submarkets for new multifamily-residential and mixed-use development due to its proximity to the largest university in the nation, its tremendous employment opportunities, and its convenient, centralized location in the heart of the metroplex. Significant employers in proximity to the property include Arizona State University, General Dynamics, U.S. Airways, Amazon, Microsoft, State Farm, and First Solar.