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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    83Rd Ave Peoria, AZ 85382

    • Lifestyle centers
    • 177,078 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 0 83Rd Ave

    Property size
    177,078 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail investment opportunity presents a prime Peoria, Arizona shopping center spanning 177,078 square feet. Strategically situated at the intersection of West Bell Road and N. 83rd Avenue, this multi-tenant property boasts a high-traffic location, benefiting from its proximity to major landmarks. The center is directly across from the prominent Arrowhead Towne Center Mall, adjacent to the expansive Peoria Sports Complex, the Enclave at Arrowhead residential community, and the La Quinta Inn & Suites hotel. This ensures consistent foot traffic and high visibility for tenants. The property currently features two suites, with 4,853 square feet of vacant space available, offering flexible leasing options ranging from a minimum of 1,773 square feet to a maximum contiguous space of 3,080 square feet. Ample parking is provided with 776 spaces to accommodate customers and employees. Located in Maricopa County, Arizona, with a zip code of 85382, this property presents a compelling investment opportunity in a thriving retail market. The property's strategic location and proximity to significant attractions make it an ideal choice for businesses seeking high visibility and strong customer traffic. The available space offers a unique chance to establish or expand a retail presence in a dynamic and rapidly growing area. This well-anchored shopping center provides a stable and promising investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.246
    Latitude
    33.6382

    Comparable in this City

    • Value Estimation by Request
      64,126 SF

      8110 Union Hills Dr

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    • Value Estimation
      $5,215,000
      10,280 SF

      7635 Bell Rd

      MINI-MALL • 10,280 SF
      7635 Bell Rd, Peoria, AZ 85382-3911
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    • Value Estimation
      $6,645,000
      9,951 SF

      7525 Bell Rd

      MINI-MALL • 9,951 SF
      7525 Bell Rd, Peoria, AZ 85382-3829
      View Details
    • Value Estimation by Request
      0.19 Acres

      20713 83rd Ave

      SHOPPING CENTER, STRIP CENTER • 0.19 Acres
      20713 83rd Ave, Peoria, AZ 85382-7427
      View Details
    • Value Estimation
      $12,215,000
      18,289 SF

      7369 Bell Rd

      SHOPPING CENTER, STRIP CENTER • 18,289 SF
      7369 Bell Rd, Peoria, AZ 85382-4814
      View Details
    • Value Estimation
      $7,645,000
      14,347 SF

      20340 Lk Pleasant Rd Ste, Unit 108

      SHOPPING CENTER, STRIP CENTER • 14,347 SF
      20340 Lk Pleasant Rd Ste, Peoria, AZ 85382-9713
      View Details

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    83Rd Ave
    Peoria, AZ 85382
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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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