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

    15814 83Rd Ave Peoria, AZ 85382

    • Medical offices
    • 22,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0034210
    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

    • Medical offices

    Property Details for 15814 83Rd Ave

    Property size
    22,000 SF
    Property type
    Medical offices

    Description

    This exceptional commercial property, located at 15814 N 83rd Ave in Peoria, Arizona, presents a fantastic opportunity for businesses seeking versatile office space. The building, totaling 22,000 square feet, is classified as both traditional and medical office space, making it ideal for a wide range of professional uses. Currently, there are two available suites, each offering approximately 10,000 square feet of well-designed space. The building is situated in Maricopa County, within the 85382 zip code, providing convenient access to major transportation routes and amenities. This multi-tenant building offers a modern and efficient layout, perfect for companies needing flexible and adaptable workspaces. The property is available for lease starting January 2026. The building's size and layout make it suitable for a variety of medical or traditional office uses. Interested parties should inquire about lease rates. This prime location in Peoria, Arizona offers a thriving business environment and excellent visibility. The property's ample square footage provides significant expansion potential for growing businesses. Don't miss this chance to secure your ideal office space in a desirable location.

    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
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.2380757
    Latitude
    33.6282324

    Comparable in this City

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      1,650 SF

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      Peoria Office Space For Lease

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      Arrowhead Office Space Available

      West Valley office space in Arrowhead, Peoria, Arizona for lease.
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    • $25 SF/Yr
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      Peoria Office Space For Rent

      Versatile Class B office space in Arrowhead Business Park.
      8765 W Kelton Ln, Peoria, AZ 85382
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      Peoria Office Space For Lease

      Office space for lease with great access and abundant parking.
      8877 W Union Hills Dr, Peoria, AZ 85382
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    • $22 SF/Yr
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      Regus Peoria Center: Prime Office Space

      Modern Offices, Coworking, & More
      16165 83Rd Ave, Peoria, AZ 85382
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    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $17 SF/Yr
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      Executive Office Suites in Peoria

      Prime Arrowhead location, 1,000 sq ft available
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      View Details
    • $24 SF/Yr
      6,415 SF

      Peoria Office Space For Lease

      Office space available with great access and abundant parking.
      8877 W Union Hills Dr, Peoria, AZ 85382
      View Details
    • $17 SF/Yr
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      Arrowhead Office Space Available

      West Valley office space in Arrowhead, Peoria, Arizona for lease.
      8805 W Union Hills Dr, Peoria, AZ 85382
      View Details
    • $25 SF/Yr
      4,762 SF

      Peoria Office Space For Rent

      Versatile Class B office space in Arrowhead Business Park.
      8765 W Kelton Ln, Peoria, AZ 85382
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    • $24 SF/Yr
      6,415 SF

      Peoria Office Space For Lease

      Office space for lease with great access and abundant parking.
      8877 W Union Hills Dr, Peoria, AZ 85382
      View Details
    • $26 SF/Yr
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      Garden Style Office in Peoria

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    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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