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    Of Cotton Ln And Waddell Rd Surprise, AZ 85388

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    Of Cotton Ln And Waddell Rd Surprise, AZ 85388

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    • Retail properties & Spaces
    • 5.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Of Cotton Ln And Waddell Rd

    Lot size
    5.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 5-acre parcel presents a remarkable opportunity for retail development in the rapidly expanding Prasada Gateway Village 2. Zoned PAD, this land offers unparalleled potential for businesses seeking a high-visibility location within a thriving community. The property is ideally situated at the northeast corner of Cotton Lane and Waddell Road, benefiting from exceptional accessibility and high traffic counts. Adjacent to a new 364-unit apartment complex, this location ensures a built-in customer base and strong potential for sustained growth. Furthermore, its proximity to the Loop 303 freeway (with 66,983 vehicles per day) provides convenient access for customers and employees. The surrounding Prasada Trade Area is experiencing explosive growth, with significant retail and residential developments underway. This includes a master-planned community encompassing 14,000 single-family homes, 360 multifamily units, medical services, offices, and hospitality options. The area boasts impressive average household incomes of $91,786 within a one-mile radius, indicating strong consumer spending power. This is a rare chance to secure a prime location in a booming market, perfect for a variety of retail concepts. One space is currently available for lease.

    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
    -112.427
    Latitude
    33.6097

    Comparable in this City

    • Value Estimation by Request
      5.00 Acres

      Of Cotton Ln And Waddell Rd

      Land • 5.00 Acres
      0 Of Cotton Ln And Waddell Rd, Surprise, AZ 85388
      View Details
    • Value Estimation by Request
      10.00 Acres

      Sec Cactus Rd & Cotton Ln

      Land • 10.00 Acres
      0 Sec Cactus Rd & Cotton Ln, Surprise, AZ 85388
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    • Value Estimation
      $5,535,000
      21,702 SF

      17050 Custer Ln

      SHOW ROOM, WAREHOUSE • 21,702 SF
      17050 Custer Ln, Surprise, AZ 85388-9000
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    • Value Estimation
      $2,645,000
      16,080 SF

      15116 Cotton Ln

      SHOW ROOM, WAREHOUSE • 16,080 SF
      15116 Cotton Ln, Surprise, AZ 85388-9618
      View Details
    • Value Estimation
      $2,930,000
      7,000 SF

      Surprise, AZ 85388

      AUTO REPAIR, GARAGE • 7,000 SF
      Surprise, AZ 85388
      View Details
    • Value Estimation
      $2,685,000
      8,943 SF

      16840 Waddell Rd

      SHOPPING CENTER, STRIP CENTER • 8,943 SF
      16840 Waddell Rd, Surprise, AZ 85388-9616
      View Details

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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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