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

    11851 51st Ave Glendale, AZ 85304-2809

    • Office Properties & Spaces
    • 3.95 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1912761
    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

    • Dr. Kelvin Ngo / Dentist / Cosmetic Dentist
    • NOAH Copperwood Health Center / Pediatrician / Medical Clinic
    • Empower Physical Therapy: Glendale / Physical Therapist / Physical Therapy Clinic
    • Arizona Neurological Institute / Medical Clinic / Neurologist
    • ALYSSA FUKUMAE / Physical Therapist

    Property Details for 11851 51st Ave

    Lot size
    3.95 lot acres
    Zone code
    C-O
    Property type
    Office Properties & Spaces
    APN
    148-02-353
    APU
    14802353

    Description

    This exceptional Glendale, Arizona office condominium, located at 11851 N 51st Ave, offers 6,162 square feet of prime commercial space, currently with 3,081 square feet vacant. The property is classified as a Class B building and zoned C-O Commercial Office in Maricopa County. Its convenient location boasts excellent visibility, enhanced by monument signage along 51st Avenue, near the intersection of N 51st Ave and W Rivera Dr. The building is strategically positioned just south of West Cactus Road and a half-mile north of West Peoria Avenue, providing easy access to major transportation arteries including I-17, US 60, and the 101 freeway. This multi-tenant property is ideal for a variety of businesses, particularly those seeking executive or medical office space. Its proximity to key Glendale landmarks further enhances its appeal. Within a five-mile radius are the ASU West Campus, Thunderbird Banner Medical Center, and the Metro Center Retail & Commercial Corridor, offering a vibrant and accessible environment for tenants and clients alike. The property's size and location present a compelling investment opportunity in a thriving commercial area. The available space provides flexibility for businesses of varying sizes and needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.168
    Latitude
    33.5934
    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
    $0.00
    $0.00
    $0.00
    $83
    -
    $500
    $0.00
    $500

    Comparable in this City

    • Value Estimation by Request

      4312 Cactus Rd

      Office Properties & Spaces
      4312 Cactus Rd, Glendale, AZ 85304
      View Details
    • Value Estimation by Request
      7.37 Acres

      13509 67th Ave

      CONDOMINIUM OFFICES • 7.37 Acres
      13509 67th Ave, Glendale, AZ 85304
      View Details
    • Value Estimation
      $1,560,000
      6,162 SF

      11851 51st Ave, Unit 130

      MEDICAL BUILDING • 6,162 SF
      11851 51st Ave, Glendale, AZ 85304-2809
      View Details
    • Value Estimation
      $1,670,000
      6,476 SF

      11851 51st Ave, Unit 130

      MEDICAL BUILDING • 6,476 SF
      11851 51st Ave, Glendale, AZ 85304-2809
      View Details
    • Value Estimation
      $2,625,000
      6,162 SF

      11851 51st Ave, Unit 140

      MEDICAL BUILDING • 6,162 SF
      11851 51st Ave, Glendale, AZ 85304-2809
      View Details
    • Value Estimation
      $1,510,000
      6,476 SF

      11851 51st Ave, Unit 110

      MEDICAL BUILDING • 6,476 SF
      11851 51st Ave, Glendale, AZ 85304-2809
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,279 SF

      Cactus Village Retail Center

      Phoenix Retail/Office Space Available
      4312 Cactus Rd, Glendale, AZ 85304
      View Details
    • $30 SF/Yr
      96,569 SF

      Thunderbird Paseo Medical Plaza

      Glendale medical office space available
      5601 Eugie Ave, Glendale, AZ 85304
      View Details
    • Contact for pricing
      12,852 SF

      Glendale Retail Strip Center

      Fully occupied retail strip center in Glendale and Peoria.
      10630 N 59Th Ave, Glendale, AZ 85304
      View Details
    • Contact for pricing
      1,380 SF

      Retail Space on Cactus Road

      Retail space with high traffic and visibility in Glendale, AZ.
      4312-4414 W Cactus Rd, Glendale, AZ 85304
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space For Rent

      Retail space available for rent off W Cactus Rd.
      4323 W Cactus Rd, Glendale, AZ 85304
      View Details
    • $14 SF/Yr
      16,500 SF

      Cambridge Plaza Retail Space

      West Phoenix retail center; multiple spaces available.
      10820 43Rd Ave, Glendale, AZ 85304
      View Details
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    Glendale, AZ 85304-2809
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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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