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    99th Ave & Indian School Rd Phoenix, AZ 85392

    Sponsored
    For Lease
    Contact for pricing

    Multiple spaces available; high traffic location.

    Lot size:
    330,621 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This exceptional retail opportunity is situated at the highly visible northeast corner of 99th Avenue and Indian School Road in Maricopa County, Arizona. The property boasts a total building area of 330,621 square feet and offers multiple spaces currently available for lease. The site is zoned PUD, allowing for a variety of commercial uses. The lot size ranges from one to 1.44 acres, providing ample space for development or expansion. With a total of 272 parking spaces, this center ensures convenient access for customers and employees. The property's strategic location at a major intersection guarantees high visibility and significant foot traffic, making it an ideal location for a variety of retail businesses, including restaurants. The flexible space and ample parking make this a truly exceptional investment opportunity for businesses seeking a prominent presence in a thriving commercial area. This is a chance to establish your business in a high-traffic location with excellent visibility and ample parking. The property's size and zoning offer considerable flexibility for a range of commercial ventures. The multiple spaces available allow for customization to suit various business needs. Don't miss this chance to secure a prime location in a rapidly growing market.

    Property Features for 99th Ave & Indian School Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    330,621 SF

    Unit(s) available at that property

    Space
    Pad 1
    Size
    0 SF
    Space
    Pad 2
    Size
    0 SF
    Space
    Pad 3
    Size
    0 SF
    Space
    Pad 4
    Size
    0 SF

    We can help!

    Listing Contact
    Matt Milinovich
    Matt Milinovich

    Learn more

    HighLights

    • Retail and land property totaling 330,621 square feet.
    • Multiple tenancies available, with four spaces currently for lease.
    • Lot size ranges from 0.81 to 1.44 acres.
    • 272 parking spaces available.
    • Property zoned PUD (Planned Unit Development).
    • Located in Maricopa County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.2724423
    Latitude
    33.4937905

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    FAQs

    What type of property is this?
    Land - Multiple spaces available; high traffic location.
    Where is this land located?
    The property is located at 99th Ave & Indian School Rd Phoenix, AZ.
    What are key features of this property?
    This property features: Retail and land property totaling 330,621 square feet.; Multiple tenancies available, with four spaces currently for lease.; Lot size ranges from 0.81 to 1.44 acres.
    Request Owner's contact information
    99th Ave & Indian School Rd Phoenix, AZ 85392
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    Phoenix, AZ 85392
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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
    99th Ave & Indian School Rd Phoenix, AZ 85392
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    We can help!
    Listing Contact
    Matt Milinovich
    Matt Milinovich
    Real Estate License ID: AZ SA504456000
    Learn more
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