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    12711 Smokey Dr Surprise, AZ 85378

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    12711 Smokey Dr Surprise, AZ 85378

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    • Office properties & Spaces
    • 2,120 SF
    • 0.14 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 12711 Smokey Dr

    Year built
    2024
    Lot size
    0.14 lot acres
    Property size
    2,120 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional investment opportunity presents four Class A medical office condo buildings in Surprise, Arizona's thriving Crossroads Plaza. Each building offers flexible space ranging from 2,120 to 9,317 square feet, perfect for a variety of medical practices or executive office uses. The development, completed in 2024, boasts a desirable C-2 zoning, ample parking (5 spaces per 1,000 square feet), including covered structures, and attractive monument signage opportunities. Landscaping is mature and well-maintained, enhancing the property's curb appeal. The strategic location offers immediate access to nearby retail, restaurants, a greenbelt park, and even a lake, providing a convenient and appealing environment for both tenants and employees. The shell buildings are available for purchase at $350 per square foot, allowing buyers to customize their interior spaces to meet their specific needs. Estimated 2024 HOA fees are approximately $7.50 per square foot, and property taxes are estimated at $2.75 per square foot. The property's infrastructure is complete, including sidewalks, roadways, and utilities, making this a turnkey opportunity for immediate occupancy. This is a rare chance to acquire prime medical office space in a highly desirable location with exceptional amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Surprise
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.334
    Latitude
    33.6377

    Comparable in this City

    • Value Estimation
      $1,665,000
      9,314 SF

      12647 Smokey Dr Ste, Unit 115

      MEDICAL BUILDING • 9,314 SF
      12647 Smokey Dr Ste, Surprise, AZ 85378-3799
      View Details
    • Value Estimation
      $1,105,000
      6,192 SF

      12665 Smokey Dr, Unit 145

      MEDICAL BUILDING • 6,192 SF
      12665 Smokey Dr, Surprise, AZ 85378-3732
      View Details
    • Value Estimation
      $1,665,000
      9,314 SF

      12647 Smokey Dr Ste, Unit 116

      MEDICAL BUILDING • 9,314 SF
      12647 Smokey Dr Ste, Surprise, AZ 85378-3799
      View Details
    • Value Estimation
      $2,420,000
      9,314 SF

      12647 Smokey Dr Ste, Unit 113

      MEDICAL BUILDING • 9,314 SF
      12647 Smokey Dr Ste, Surprise, AZ 85378-3799
      View Details
    • Value Estimation
      $1,665,000
      9,314 SF

      12647 Smokey Dr Ste, Unit 119

      MEDICAL BUILDING • 9,314 SF
      12647 Smokey Dr Ste, Surprise, AZ 85378-3799
      View Details
    • Value Estimation
      $1,665,000
      9,314 SF

      12647 Smokey Dr Ste, Unit 118

      MEDICAL BUILDING • 9,314 SF
      12647 Smokey Dr Ste, Surprise, AZ 85378-3799
      View Details

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    Similar Nearby for Lease

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      Office Space on W Bell

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      Retail space available for lease.
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      Mixed-Use Retail Space Available

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      Drive-Thru Restaurant Opportunity

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    Surprise, AZ 85378
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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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