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    10240 N 43Rd Ave Glendale, AZ 85302

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    For Sale
    Contact for pricing

    Multi-tenant retail pad building in a high-traffic area.

    Property size:
    7,195 SF
    Lot size:
    0.53 Acres

    Property Features for 10240 N 43Rd Ave

    General Information

    Standard status
    Active
    Zoning
    C-2, Glendale
    Size
    7,195 SF
    Lot size
    0.53 Acres

    Building Details

    Year built
    1981

    We can help!

    Listing Contact
    Joseph B Dabush
    Source: Crexi

    Listing Agency: Marcus & Millichap - Portland Listing Agent: Joseph B Dabush

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Glendale Retail Center For Sale

    The Glendale Towne Center, located at 10240 N. 43rd Avenue in Glendale, Arizona, is available for sale. This multi-tenant pad building has 7,195 square feet of space and sits on a 0.55-acre lot. The property is 80% leased to two established corporate tenants: Little Caesars and NextCare Urgent Care. It is strategically positioned directly in front of a recently renovated Target on the southwest corner of 43rd Avenue and Peoria Avenue, offering visibility and customer traffic. The property benefits from exposure to over 60,000 vehicles per day in one of Glendale's active retail corridors. The surrounding trade area features over 348,750 residents within 5 miles and an average household income of $91,500 within 1 mile. Located 2 miles from the I-17 Freeway, the property is co-tenanted alongside the newly renovated Target, Wells Fargo, Denny's, and Walgreens within Glendale Towne Center. The triple-net lease structure and staggered lease terms extending through 2030 provide predictable cash flow. The property is located within the thriving Phoenix Metropolitan Area, which has a population of 257,125.
    Location Intelligence

    Current Use by Public Records

    AMY KATHRYN BOATRIGHT Physician Joseph Gaddam Physician LYNN MARIE PURA Physician GameStop Electronics & Wireless Store NextCare Urgent Care ... Medical Clinic

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Olive Crossing Shopping Center, Off Road Atv Parts, Winsor Square

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.1519847
    Latitude
    33.5802997

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    FAQs

    What type of property is this?
    Shopping center - Multi-tenant retail pad building in a high-traffic area.
    Where is this shopping center located?
    The property is located at 10240 N 43Rd Ave Glendale, AZ.
    What are key features of this property?
    This property features: - High-traffic location on the southwest corner of 43rd Avenue and Peoria Avenue with exceptional visibility, benefiting from over 60,000 vehicles per day.; - 80% leased to established corporate tenants: Little Caesars and NextCare Urgent Care.; - Strategically positioned directly in front of a recently renovated Target, driving consistent customer traffic.
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10240 N 43Rd Ave Glendale, AZ 85302
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    We can help!
    Listing Contact
    Joseph B Dabush
    Real Estate License ID: 201257377
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