Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Retail Hub in Surprise Title is generated by Realmo AI

    SEC Sarival Ave & Waddell Rd, Surprise, AZ 85388

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Dynamic shopping center with high-end grocer and retail spaces.

    Type:Retail
    Added:
    Nov 25, 2025
    Days on Market:
    179
    Last Refresh:
    Apr 6 at 1:22 am

    Property Features for SEC Sarival Ave & Waddell Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at SEC Sarival Ave & Waddell Rd Contact us

    We can help!

    Listing Contact
    Neil Board

    Listing agent Neil Board

    Listing office Western Retail Advisors, LLC

    Listing date Nov 25, 2025

    Source W-retail

    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 Western Retail Advisors, LLC

    HighLights

    • Premier, high‑end grocer anchor tenant.
    • Part of the expansive Prasada master development with over 1 Million SF of retail space.
    • Located in the Northwest Valley’s dominant retail corridor, attracting affluent shoppers and families.
    • Strategically positioned at the intersection of Waddell Rd and Sarival Ave in Surprise, Arizona.
    • Easy freeway access and high traffic roads.
    • Significant planned residential development in the surrounding area (51k single family homes and 340 multi‑family units).

    Overview

    Prasada East is a new shopping and lifestyle hub anchored by a high-end grocer, located at the intersection of Waddell Rd and Sarival Ave in Surprise, Arizona. It is the newest addition to the Prasada master development, which features over 1 million square feet of retail space. Since opening in January 2023, Prasada has become a retail corridor in the Northwest Valley, attracting shoppers and visitors. Prasada East blends convenience, sophistication, and leisure. Spaces available range from 2,800 to 35,000 square feet. The development is located approximately 45 minutes from downtown Phoenix. The location is across from a major new development bringing over 350,000 square feet of new retail and restaurant space and next to strong anchored tenants. There are over 51,000 planned single-family homes and 340 multi-family units planned for the surrounding area. The property offers easy freeway access and high traffic roads.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Surprise
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.451
    Latitude
    33.6134

    Nearby Similar for Lease

    • $28 SF/Yr
      10,783 SF

      Medical Office in Surprise, Arizona

      Modern medical office space in Surprise entertainment district for rent.
      14815 West Bell Road, Surprise, AZ, 85374
      View Details
    • $36 SF/Yr
      3,529 SF

      Retail Space Available For Rent

      Retail spaces available for lease with freestanding PAD.
      14155 W Bell Road, Surprise, AZ 85374
      View Details
    • Contact for pricing
      4,600 SF

      Restaurant & Retail Space Available

      High-profile restaurant and retail space in a well-established neighborhood.
      14823 W Bell Rd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      114,543 SF

      Industrial Space Near Airport

      Industrial space for lease near Phoenix Sky Harbor International Airport.
      13270 W Bell Rd, Surprise, AZ 85023
      View Details
    • $36 SF/Yr

      Retail End Cap with Patio

      Retail space available with patio, near major retailers.
      14155 W Bell Rd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      4,711 SF

      Surprise Marketplace Retail Space

      Retail spaces available for lease in Surprise, Arizona.
      13707-13723 W. Bell Rd, Surprise, Arizona 85374
      View Details
    • Contact for pricing
      3,333 SF

      Retail Space in Surprise Towne

      Retail space available for lease in Surprise, Arizona.
      13722 W Bell Rd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      6,507 SF

      Retail Space Near Movie Theater

      Retail space available near AMC Movie Theatres and Uptown Alley.
      13621 N Litchfield Rd, Surprise, AZ 85379
      View Details
    • Contact for pricing
      9,285 SF

      Retail Strip Center For Rent

      Retail spaces available in a busy, fully leased strip center.
      14071 W Bell Rd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      1,680 SF

      Retail Space on Grand Avenue

      Retail space available on a high-traffic avenue.
      18795 N Reems Rd, Surprise, AZ 85374
      View Details
    • Contact for pricing
      1,057 SF

      Retail Space Available For Rent

      Retail space available for lease.
      11294 W Bell Rd, Surprise, AZ 85378
      View Details
    • Contact for pricing
      9,521 SF

      Retail Space in Surprise, Arizona

      Retail space available in Surprise, Arizona with high traffic.
      13480 N Litchfield Rd, Surprise, AZ
      View Details

    FAQs

    What type of property is this?
    Shopping center - Dynamic shopping center with high-end grocer and retail spaces.
    Where is this shopping center located?
    The property is located at SEC Sarival Ave & Waddell Rd Surprise, AZ.
    What are key features of this property?
    This property features: Premier, high‑end grocer anchor tenant.; Part of the expansive Prasada master development with over 1 Million SF of retail space.; Located in the Northwest Valley’s dominant retail corridor, attracting affluent shoppers and families.
    (602) 778-3781
    We can help!
    Listing Contact
    Neil Board
    Learn More
    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
    SEC Sarival Ave & Waddell Rd, Surprise, AZ 85388
    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!