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    14050 83Rd Ave Peoria, AZ 85381

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    Peoria, AZ Office Complex: Value-Add Opportunity

    Property size:
    144,597 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A office park in Peoria, Arizona, presents a compelling value-add investment opportunity. Comprising two, two-story buildings totaling 144,597 square feet on a 10.9-acre lot, the property boasts a prime location at the intersection of Loop 101 and Thunderbird Road & 83rd Ave, offering excellent visibility and accessibility. Built in 2005, the multi-tenant buildings provide adaptable space suitable for a range of businesses. Currently operating at 73.1% occupancy, the property generates a Net Operating Income (NOI) of $1,690,161. In-place rents are significantly below market rates, presenting substantial upside potential for increased NOI through lease renewals and market adjustments. The Peoria/Arrowhead area demonstrates robust demographic and economic growth, featuring a strong consumer base and skilled workforce, further enhancing the property's investment viability. The area's dynamic blend of residential communities, recreational amenities, and high-income households contributes to a vibrant and attractive environment for businesses. The property's strategic location and significant value-add potential make it an attractive investment in a rapidly growing market. The average remaining lease term is approximately 2.2 years. Additional value creation opportunities exist through freeway billboard or building signage. The current vacancy rate in the submarket is 14.95%, with no buildings having more than 25,000 square feet of vacancy, indicating market stability.

    Property Features for 14050 83Rd Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    144,597 SF
    Class
    A
    Lot Size
    474,804 SF

    Building Details

    Year Built
    2005
    Buildings
    2
    Stories
    2

    HighLights

    • Class A office park in Peoria, AZ, offering a value‑add investment opportunity.
    • Two two‑story buildings totaling 144,597 square feet on a 10.9‑acre lot, located at Loop 101 and Thunderbird Road & 83rd Ave.
    • Built in 2005, with adaptable space for various businesses; currently 73.1% occupied, generating $1,690,161 NOI.
    • In‑place rents are approximately 15% below market, with a 2.2‑year average remaining lease term, presenting significant upside potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Brooke Reidhead Mortgage Lender AZ Peoria Appliance ... Appliance Repair Service Arizona eHomes Real Estate Agent Myofunctional Therapy by ... Physical Therapy Clinic Regal K Enterprises Trucking Company

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.2381575
    Latitude
    33.6122267

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    FAQs

    What type of property is this?
    Office Property / Space - Peoria, AZ Office Complex: Value-Add Opportunity
    Where is this office property / space located?
    The property is located at 14050 83Rd Ave Peoria, AZ.
    What are key features of this property?
    This property features: Class A office park in Peoria, AZ, offering a value-add investment opportunity.; Two two-story buildings totaling 144,597 square feet on a 10.9-acre lot, located at Loop 101 and Thunderbird Road & 83rd Ave.; Built in 2005, with adaptable space for various businesses; currently 73.1% occupied, generating $1,690,161 NOI.
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    Realmo Value Estimation

    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.

    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.

    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
    14050 83Rd Ave Peoria, AZ 85381
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