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

    111 Florence Blvd Casa Grande, AZ 85122-4003

    • Retail space
    • 4,744 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2022
    $525,000
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    8.5%
    Retail space
    Location Intelligence
    Property ID
    US07-3325067
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Spark Fuel / Gift Shop
    • Love Your Skin by Kendra / Skin Care Clinic / Facial Spa
    • The Dollhouse Salon Suites / Beauty Salon
    • Gemz Nail salon & spa / Facial Spa / Waxing Hair Removal Service
    • CDS Grooming / Pet Groomer

    Property Details for 111 Florence Blvd

    Year built
    1957
    Construction
    CONCRETE
    Lot size
    0.29 lot acres
    Property size
    4,744 SF
    Property type
    Retail space
    APN
    507-07-111A
    APU
    50707111A

    Description

    Casa Grande Plaza offers a fantastic retail opportunity in the Casa Grande submarket. This single-story, 4,800 square foot building sits on a 1.5-acre lot (12,000 square feet) and features six suites, with one 700 square foot space currently available. Built in 1973 and renovated in 1985, the property boasts ample parking with 15 spaces and a secure gated entrance. The available suite is ideal for a variety of retail uses, and its current tenant is a tattoo shop. The property is zoned B2 and has a load factor of 1. Utilities are provided by APS. There are no elevators. Property taxes are $5,325 per square foot. The minimum divisible space is 700 square feet, and the maximum contiguous space available is also 700 square feet. The cross street is Florence. The APN is 507-07-111A. This is a great opportunity to establish a presence in a well-located retail center. The asking rent is $12 per square foot, NNN.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $550,000
      ML approach
      $515,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $775,000
      6.5%
      $715,000
      7%
      $665,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $413,000
      Market price range: $211k - $653k
      AI Estimate
      $347,000
      Market price range: $196k - $614k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $480,000
      Current use
      COMMERCIAL (GENERAL)
      $730,000
      Change: +52% Conversion: Easy
      OFFICE BUILDING
      $655,000
      Change: +37% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Casa Grande
    County
    Pinal
    State
    Arizona
    Longitude
    -111.753
    Latitude
    32.8793
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,381
    $22,590
    $46,629
    $69,219
    -
    $125,500
    $259,049
    $384,549

    Comparable in this City

    • Value Estimation by Request
      2,911 SF

      2012 Trekell Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,911 SF
      2012 Trekell Rd, Casa Grande, AZ 85122-1350
      View Details
    • Value Estimation by Request
      915 SF

      108 Main St

      RETAIL STORES (PERSONAL SERVICES) • 915 SF
      108 Main St, Casa Grande, AZ 85122-4820
      View Details
    • Value Estimation
      $630,000
      4,575 SF

      1747 Florence Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,575 SF
      1747 Florence Blvd, Casa Grande, AZ 85122-4778
      View Details
    • Value Estimation
      $785,000
      8,990 SF

      1460 Pinal Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,990 SF
      1460 Pinal Ave, Casa Grande, AZ 85122-3337
      View Details
    • Value Estimation
      $2,490,000
      18,077 SF

      1677 Florence Blvd

      RETAIL STORES (PERSONAL SERVICES) • 18,077 SF
      1677 Florence Blvd, Casa Grande, AZ 85122-4786
      View Details
    • Value Estimation
      $695,000
      4,980 SF

      1550 Florence Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,980 SF
      1550 Florence Blvd, Casa Grande, AZ 85122-4788
      View Details

    Similar Nearby for Sale

    • $925,000
      10,820 SF

      Casa Grande Retail/Office Opportunity

      Prime frontage on Florence Boulevard, suitable for retail or office.
      505-517 E Florence Blvd, Casa Grande, AZ 85122
      View Details
    • $2,400,000
      14,736 SF

      Walgreens Leasehold Interest in AZ

      High-yield Walgreens NNN lease, Casa Grande.
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    • $975,000
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      Restaurant/Retail Space For Sale

      Operating Mexican food restaurant / retail space available for sale.
      1300 N Pinal Ave, Casa Grande, AZ 85122
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    • $2,100,000
      4,667 SF

      1295 Florence Blvd

      Medical offices • 4,667 SF
      1295 Florence Blvd, Casa Grande, AZ 85122
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    • $925,000
      3,584 SF

      Casa Grande Restaurant - $925K

      Established Restaurant, 3584 SF, Prime Location
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    • $850,000
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      Casa Grande Mixed-Use Investment

      7,915 SF Office/Warehouse, $850K
      312 2Nd St, Casa Grande, AZ 85122
      View Details

    Similar Nearby for Lease

    • $2,100 /Mo
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      Versatile Space in Casa Grande

      Adaptable space suitable for salon, church, office, or retail.
      241 W Cottonwood Ln, Casa Grande, AZ 85122
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      1,334 SF

      Retail Space in Casa Grande

      Safeway-anchored neighborhood center with available in-line space.
      1667 N Trekell Rd, Casa Grande, AZ 85122
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      1,128 SF

      Retail Space Near Manufacturing Plants

      Retail space near Lucid and Nikola manufacturing plants.
      1348 E Florence Blvd, Casa Grande, AZ 85122
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    • Contact for pricing
      2,400 SF

      Retail Space in Casa Grande

      Retail space available in high-traffic Casa Grande location.
      Pinal Ave, Casa Grande, AZ 85122
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    • $18 SF/Yr
      1,200 SF

      Retail Space Near Walmart

      Move-in ready retail space next to Walmart Super Center.
      1659 E Florence Blvd, Casa Grande, AZ 85122
      View Details
    • Contact for pricing
      15,041 SF

      Retail and Warehouse Space Available

      Retail and warehouse spaces for lease near shopping center.
      1325 E Florence Blvd, Casa Grande, AZ 85122
      View Details
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    111 Florence Blvd
    Casa Grande, AZ 85122-4003
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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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