Mixed-Use Commercial
For Sale
$749,900
22771 N 187th Ave, Surprise, AZ 85387
Flexible zoning supports a blend of commercial, light industrial, and residential uses.
Property Size1,848 SF
Price / SF$405.79
Days on Market216
Property Features for 22771 N 187th Ave
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Commercial
Building Details
Year Built
1985
Listing Agency:
Avenue Home Realty
Listed By:
Erika Ceja · License #LC577033000
Source:
Phoenixhomehunter
Added: Mar 9
Changed: Oct 1
Last Checked: Oct 9 at 8:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Avenue Home Realty
Investment Insights
Based on property information with market context.
This mixed-use property provides 7,200 square feet of commercial space in a building constructed in 1985. The property carries mixed-use, light industrial, and residential zoning, creating a combination of land-use classifications within the asset.
Located at 22771 North 187th Avenue in Surprise, Arizona, the property is positioned for consideration by users seeking a commercial building with multiple zoning components. The existing structure and established construction date provide a defined physical asset for evaluation.
Located at 22771 North 187th Avenue in Surprise, Arizona, the property is positioned for consideration by users seeking a commercial building with multiple zoning components. The existing structure and established construction date provide a defined physical asset for evaluation.
Key Highlights
- 7,200‑square‑foot mixed‑use property
- Mixed‑use, light industrial, and residential zoning
- Building constructed in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,703
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,060
$454.1K
Cap Rate 7%
$324,329
$324.3K
Cap Rate 9%
$252,256
$252.3K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$39.9K $21.60/SF
− Vacancy
−$3.6K −$1.94/SF
EGI
$36.3K $19.66/SF
− OpEx
−$13.6K −$7.37/SF
NOI
$22.7K $12.29/SF
Area
Surprise, AZ
Vacancy
9.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,060
Cap Rate 7%
$324,329
Cap Rate 9%
$252,256
Alternative Uses
Best Use
Mixed Use
$324.3K
$283.8K – $378.4K
NOI $22,703 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$569.9K
$498.7K – $664.9K
NOI $39,893 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 85387, AZ
16,331
Population
8,707
Households
1.9
Avg Household Size
52
Median Age
35%
College-Educated
94%
High-School Grad
60.0 sq mi
ZIP Area
272
Density / Sq Mi
$95,472
Median Household Income
$53,282
Median Earnings
$2,405
Median Rent
$453,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible zoning supports a blend of commercial, light industrial, and residential uses.
Where is this mixed-use property located?
The property is located at 22771 N 187th Ave Surprise, AZ.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 7,200‑square‑foot mixed‑use property; Mixed‑use, light industrial, and residential zoning; Building constructed in 1985
