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    19401-19411 Cave Creek Rd Phoenix, AZ 85024

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    19401-19411 Cave Creek Rd Phoenix, AZ 85024

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    • Neighborhood centers
    • 39,505 SF
    • 4.31 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 19401-19411 Cave Creek Rd

    Year built
    1987
    Lot size
    4.31 lot acres
    Property size
    39,505 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Cave Creek Plaza, a 39,505 square foot retail center in Phoenix, Arizona, presents a prime opportunity for businesses seeking high-visibility space. Located at 19401-19411 N. Cave Creek Road, 85024, this Class C strip center offers multiple tenancy options, ideal for a variety of retail uses, including restaurants. The property boasts 8,610 square feet of immediately available space, divisible into units ranging from a minimum of 1,168 square feet to a maximum contiguous space of 3,570 square feet. Built in 1987, the center sits on a substantial 4.31-acre lot (187,744 square feet) and is zoned C-2 by the city of Phoenix. Ample parking is provided, with a ratio of 7.59 spaces per 1,000 square feet. The property's Maricopa County location (APN: 213-18-098R, 213-18-098S) offers excellent access to major transportation routes and a thriving consumer base. This is an exceptional opportunity to establish or expand your business in a well-established retail location. The property's size and flexible space options make it suitable for a variety of retail concepts.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.03
    Latitude
    33.6625

    Comparable in this City

    • Value Estimation
      $1,370,000
      6,290 SF

      19401 Cave Crk Rd

      SHOPPING CENTER, STRIP CENTER • 6,290 SF
      19401 Cave Crk Rd, Phoenix, AZ 85024-1801
      View Details
    • Value Estimation
      $650,000
      5,752 SF

      21027 Cave Crk Rd Ste, Unit 4

      SHOPPING CENTER, STRIP CENTER • 5,752 SF
      21027 Cave Crk Rd Ste, Phoenix, AZ 85024-5524
      View Details
    • Value Estimation
      $4,675,000
      10,736 SF

      19411 Cave Crk Rd

      SHOPPING CENTER, STRIP CENTER • 10,736 SF
      19411 Cave Crk Rd, Phoenix, AZ 85024
      View Details
    • Value Estimation
      $2,775,000
      6,371 SF

      20350 Cave Crk Rd

      SHOPPING CENTER, STRIP CENTER • 6,371 SF
      20350 Cave Crk Rd, Phoenix, AZ 85024-1283
      View Details
    • Value Estimation
      $835,000
      7,420 SF

      21035 Cave Crk Rd Ste 4c

      SHOPPING CENTER, STRIP CENTER • 7,420 SF
      21035 Cave Crk Rd Ste 4c, Phoenix, AZ 85024-5522
      View Details
    • Value Estimation
      $1,000,000
      8,894 SF

      21039 Cave Crk Rd

      SHOPPING CENTER, STRIP CENTER • 8,894 SF
      21039 Cave Crk Rd, Phoenix, AZ 85024-5523
      View Details

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    Similar Nearby for Lease

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      Retail Space on Cave Creek

      Retail property with high visibility and traffic count.
      19401-19411 N Cave Creek Rd, Phoenix, AZ 85024
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      Office/Retail Space For Lease

      Office and retail space available for lease.
      19235 N Cave Creek Rd, Phoenix, AZ 85024
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    • $23 SF/Yr

      Phoenix Office/Retail Space For Lease

      Office and retail space available for lease with covered parking.
      19235 N Cave Creek Rd, Phoenix, AZ 85024
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      1,200 SF

      Retail Space on Cave Creek

      Retail space with high visibility and street frontage.
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      Retail Space for Lease

      Retail space available for lease in Phoenix, Arizona.
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      Phoenix Office Space For Lease

      Single-story office space in North Phoenix near Loop 101.
      21035 N Cave Creek Rd, Phoenix, AZ 85024
      View Details
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    Phoenix, AZ 85024
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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
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