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    19Th Ave Phoenix, AZ 85015

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    19Th Ave Phoenix, AZ 85015

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    • Retail properties & Spaces
    • 845,833 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 19Th Ave

    Property size
    845,833 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Christown Spectrum, a prominent Phoenix, Arizona power center, offers exceptional office space opportunities. This 845,833 square foot property boasts a diverse range of uses, including executive, medical, and dental offices, all within a thriving retail environment. Located at the intersection of West Bethany Home Rd. and 19th Ave, in the 85015 zip code, this Maricopa County location provides unparalleled accessibility and visibility. The property features 16 total suites, with a minimum divisible space of 800 square feet and a maximum contiguous space of 5,228 square feet. Currently, 36,171 square feet of office space is available for lease. The center is strategically positioned near major retailers such as Super Target, Walmart, American Furniture Warehouse, and Ross, ensuring high foot traffic and strong brand recognition. With a total of 4,359 parking spaces, ample parking is readily available for tenants and their clients. This multi-tenant property presents a unique opportunity for businesses seeking a dynamic and convenient location in a well-established commercial center. The property is situated on a 71.73-acre site and includes ten pad buildings, offering a variety of options to suit diverse business needs. Inquire today to explore the available spaces and secure your ideal office location within this vibrant commercial hub.

    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
    -112.095
    Latitude
    33.5219

    Comparable in this City

    • Value Estimation by Request
      8,615 SF

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      Medical Office Space • 8,615 SF
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    • Value Estimation by Request
      15,162 SF

      5800 19Th Ave

      Office properties & Spaces • 15,162 SF
      5800 19Th Ave, Phoenix, AZ 85015
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    • Value Estimation
      $9,715,000
      63,520 SF

      5501 19th Ave, Unit 201

      MEDICAL BUILDING • 63,520 SF
      5501 19th Ave, Phoenix, AZ 85015-2450
      View Details
    • Value Estimation
      $9,715,000
      63,520 SF

      5501 19th Ave Ste, Unit 101

      MEDICAL BUILDING • 63,520 SF
      5501 19th Ave Ste, Phoenix, AZ 85015-2451
      View Details
    • Value Estimation
      $9,715,000
      63,520 SF

      5501 19th Ave Ste, Unit 405

      MEDICAL BUILDING • 63,520 SF
      5501 19th Ave Ste, Phoenix, AZ 85015-2456
      View Details
    • Value Estimation
      $905,000
      2,310 SF

      6619 19th Ave

      MEDICAL BUILDING • 2,310 SF
      6619 19th Ave, Phoenix, AZ 85015-1631
      View Details

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      Parkwood Professional Plaza Suites

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    Similar Nearby for Lease

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      3,200 SF

      Healthcare Property Available For Rent

      3,200 SF healthcare property for rent in Phoenix.
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      Medical Office Suite For Lease

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      Medical Office Space in Phoenix

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      Retail Space Available For Lease

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      Four-Story Office Building For Rent

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    Phoenix, AZ 85015
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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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