Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land For Sale Title is generated by Realmo AI

    16187 N Reems Rd, Surprise, AZ 85374

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    2 acre commercial land with CN zoning in Paradise Acres.

    Type:Land
    Lot size:
    2.00 Acres
    Added:
    Oct 24, 2024
    Days on Market:
    589
    Last Refresh:
    May 12 at 11:01 pm

    Property Features for 16187 N Reems Rd

    General Information

    Standard status
    Active
    Lot size
    2.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Gina Faith

    Listing agent Gina Faith License #AZ

    Listing office Realty One Group Goodyear

    Listing date Oct 24, 2024

    Source Crexi

    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 Realty One Group Goodyear

    HighLights

    • Prime 2 Acre Commercial Land with CN Zoning
    • Located on Well‑Traveled Reems Road with Excellent Visibility
    • Public Water, Sewer, and Electric Available at the Site
    • Zoning Allows for Variety of Low‑Intensity Commercial Uses (Bank, Medical Offices, etc.)
    • Strong Surrounding Residential Base Providing Built‑In Customer Traffic
    • Easy Ingress/Egress

    Overview

    This is a 2-acre commercial land parcel located in Paradise Acres off Reems Road. The property is zoned CN, which allows for a variety of low-intensity commercial uses, including a bank, medical offices, athletic club, and beauty/barber shop. The location on Reems Road provides excellent visibility and easy access. Public water, sewer, and electric services are available at the site. The surrounding residential area provides a strong customer base. The zoning encourages neighborhood-oriented businesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Surprise
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.3933764
    Latitude
    33.630839

    Nearby Similar for Sale

    • $1,200,000

      Prime Land in Surprise, Arizona

      Located in Surprise, near future Microsoft Data Center site.
      21200 N 219TH Avenue, Surprise, AZ 85387
      View Details
    • $6,526,220

      30 Acres in Surprise, AZ

      30 acres in up-and-coming Surprise area, ready for development.
      N 220TH Avenue, Surprise, AZ 85378
      View Details
    • $6,450,000
      29,320 SF

      Retail and Office Courtyard Property

      Two-building retail and office asset with a central courtyard and covered amenities, benefiting from high-visibility Bell Road frontage.
      12211 - 12213 West Bell Road, Surprise, AZ 85378
      View Details
    • $1,125,000

      New Fourplex in Surprise, Arizona

      Newly built, fully leased townhome-style fourplex in a great location.
      12570 N COTTON Lane, Surprise, AZ 85388
      View Details
    • $340,000
      280 SF

      Land with Mountain Views

      3.25 acres with studio cabin and mountain views.
      17963 W PATRICK Lane, Surprise, AZ 85387
      View Details
    • $599,900

      New Townhome-Style Duplex in Surprise

      New duplex in high-growth area with strong rental demand.
      12570 N COTTON Lane, Surprise, AZ 85388
      View Details
    • $599,000

      Surprise, AZ Land Opportunity

      15 acres in a growing Surprise area, near new development.
      W Lone Cactus Drive, Surprise, AZ 85387
      View Details
    • $170,000
      9,670 SF

      Residential Lot in Surprise, AZ

      Residential lot in established neighborhood, ideal for building a home.
      12849 W ELM Street, Surprise, AZ 85374
      View Details
    • $1,672,000
      6,204 SF

      Modern Office Building For Sale

      6,204 SF well-maintained office building in prime Phoenix location.
      11325 W Bell Rd, Surprise, AZ 85378
      View Details
    • $995,000

      Surprise, AZ Land Parcel

      17.95 acres near Surprise, AZ, with development potential.
      18300 W PINNACLE PEAK Road, Surprise, AZ 85387
      View Details
    • $190,000

      RV Lot in 55+ Community

      RV lot with casita in gated active adult community.
      17200 W BELL Road W, Surprise, AZ 85374
      View Details
    • $2,310,000

      40 Acres in Surprise, AZ

      Land parcel near future residential and commercial developments.
      19000 N 211th Avenue, Surprise, AZ 85387
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2 acre commercial land with CN zoning in Paradise Acres.
    Where is this commercial land located?
    The property is located at 16187 N Reems Rd Surprise, AZ.
    What is the asking price?
    The asking price for this property is $1,899,999.
    What are key features of this property?
    This property features: Prime 2 Acre Commercial Land with CN Zoning; Located on Well‑Traveled Reems Road with Excellent Visibility; Public Water, Sewer, and Electric Available at the Site
    (623) 850-2330 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gina Faith
    Real Estate License ID: AZ
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    16187 N Reems Rd, Surprise, AZ 85374
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!