Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    16991 Waddell Rd Surprise, AZ 85388

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Surprise, AZ Retail Space Available

    Lot size:
    336,473 SF

    Property Features for 16991 Waddell Rd

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    336,473 SF

    Spaces For Lease

    at 16991 Waddell Rd, Surprise, AZ 85388 Contact us

    We can help!

    Listing Contact
    Greg Laing
    Greg Laing

    Listing Agency: Phoenix Commercial Advisors Listing Agent: Greg Laing

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

    Learn more

    Property Insight Report

    Overview

    This exceptional retail property, located at 16991 W Waddell Rd in Surprise, Arizona (zip code 85388), offers a prime commercial investment opportunity. The property encompasses 9.47 acres and features a total of 336,473 square feet of retail space, currently divided into three suites. There are 8,000 square feet of vacant space immediately available, divisible into units as small as 1,200 square feet, with a maximum contiguous space of 8,000 square feet. The property boasts ample parking with 310 spaces, providing a generous 8.5 spaces per 1,000 square feet. Its strategic location offers unparalleled access to high traffic volume, situated near the full-diamond interchange with the Loop 303 Freeway and a Walmart Supercenter. The area is experiencing significant residential growth, with over 3,000 single-family home permits issued in Surprise within the last five years, ensuring a robust and expanding customer base. Furthermore, its proximity to Arizona's largest auto complex, the 303 Autoshow (250 acres), provides additional exposure and foot traffic. This property presents a unique chance to capitalize on a thriving retail market in a rapidly developing area of Maricopa County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Surprise
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.4244898
    Latitude
    33.6087444

    Nearby Similar for Lease

    • Contact for pricing

      New Retail Hub in Surprise

      Dynamic shopping center with high-end grocer and retail spaces.
      Sec Sarival Ave & Waddell Rd, Surprise, AZ 85388
      View Details
    • Contact for pricing
      4,950 SF

      Retail Space Near Loop 303

      Retail space near Loop 303 and Prasada AutoShow.
      Swc Cotton Ln & Waddell Rd, Surprise, AZ
      View Details
    • Contact for pricing
      2,814 SF

      Prime Restaurant & Retail Space

      High-profile restaurant and retail space in a dense, established neighborhood.
      14385 W Bell Rd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      150,615 SF

      Level Crossing Building 3

      150,615 SF Industrial Space, Surprise, AZ
      13550 Dysart Rd, Surprise, AZ 85379
      View Details
    • Contact for pricing

      Industrial Space Near Airport

      Industrial space for lease near Phoenix Sky Harbor International Airport.
      13270 W Bell Rd, Surprise, AZ 85023
      View Details
    • Contact for pricing
      3,375 SF

      Retail Space in Surprise Center

      Retail space for lease in a mixed-use commercial development.
      13601 N Litchfield Rd, Surprise, AZ 85379
      View Details
    • Contact for pricing
      1,289 SF

      Furnished Rental in Gated Community

      Furnished 2-bedroom, 2-bath rental with pool and spa access.
      14575 W Mountain View Blvd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      12,777 SF

      Marley Park Square Retail Center

      Surprise, AZ Retail Space - Drive-Thru Ready
      13580 Litchfield Rd, Surprise, AZ 85379
      View Details
    • Contact for pricing
      212,143 SF

      Prime Surprise Retail Center

      High-traffic retail space, multiple suites available
      14823 Bell Rd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      1 SF

      Prime Retail Location in Surprise

      Exceptional property with high traffic and customizable spaces for lease.
      Sec Alexandria & Prasada Pkwy, Surprise, AZ 85388
      View Details
    • Contact for pricing
      1,350 SF

      Gated Complex Unit with Den

      Two-bedroom unit with den in gated complex, utilities included.
      14575 W Mountain View Blvd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      6,510 SF

      Retail Space in Surprise, AZ

      Prime retail space available for lease in Surprise, Arizona.
      Sec Alexandira Way & Prasada Pkwy, Surprise, AZ
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Surprise, AZ Retail Space Available
    Where is this individual retail property located?
    The property is located at 16991 Waddell Rd Surprise, AZ.
    What are key features of this property?
    This property features: 9.47-acre retail property totaling 336,473 square feet, divided into three suites, with 8,000 SF of immediately available space divisible to 1,200 SF.; Located 0.5 miles from the Loop 303 Freeway's full-diamond interchange.; Across from the 303 AutoShow, Arizona's largest automall (250 acres, 9 dealers).
    (602) 734-7207 Call to check price and availability
    Request Owner's contact information
    16991 Waddell Rd Surprise, AZ 85388
    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.
    16991 Waddell Rd
    Surprise, AZ 85388
    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
    16991 Waddell Rd Surprise, AZ 85388
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Greg Laing
    Greg Laing
    Real Estate License ID: CO114520000
    (602) 734-7207 (602) 510-8577 (602) 735-5555
    Learn more
    Google sign-in failed. Please try again or use another login method.