Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    16222 59th Ave Ste A100 Glendale, AZ 85306-1705

    • Medical offices
    • 20,000 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    May 20, 2024
    $7,668,750
    Value Estimations
    $7,670,000
    Show details
    Cap Rate Potential
    3.8%
    Medical offices
    Location Intelligence
    Property ID
    US07-1809729
    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

    • Mosallaie Farhad DO / Orthodontist
    • Dr. Francis P. Surdakowski, MD / Internist
    • Arrowhead Professional Sleep / Medical Clinic / Diagnostic Center
    • CT scan / Medical Diagnostic Imaging Center
    • Theresa Paschal / Nurse Practitioner / Registered General Nurse

    Property Details for 16222 59th Ave Ste A100

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    0.05 lot acres
    Property size
    20,000 SF
    Zone code
    C-O
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    200-57-845
    APU
    20057845

    Description

    This exceptional 1,846 square foot office suite is situated on the second floor of Building B at 16222 N 59TH Avenue, Unit 2B3, Glendale, AZ. Priced at $784,550 ($425 per square foot), this property presents a compelling investment opportunity. The suite boasts convenient features designed for optimal functionality and professional presentation. Tenants and their clients will appreciate the ease of access provided by the elevator service and direct suite access, eliminating the need for lengthy walks or inconvenient stair climbs. Ample covered parking is available, ensuring protection from the elements for both employees and visitors. The building also offers prominent building and monument signage, providing excellent visibility and enhancing the professional image of any business occupying this space. The property sits on a substantial 3.45-acre lot, offering ample space and potential for future development or expansion. This Glendale location provides easy access to major transportation routes and is situated within a thriving commercial area. The combination of size, amenities, and location makes this suite an ideal choice for a variety of businesses seeking a high-quality, well-appointed office space. The asking price reflects the value and desirability of this exceptional property. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,670,000
      ML approach
      $7,670,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,668,000
      Market price range: $1.16M - $7.67M
      AI Estimate
      $7,668,000
      Market price range: $1.16M - $7.67M

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.187
    Latitude
    33.633
    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
    $6,391
    $0.00
    $0.00
    $113,042
    -
    $137,000
    $548,100
    $685,100

    Comparable in this City

    • Value Estimation by Request
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation by Request
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation by Request
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation by Request
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation by Request
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details
    • Value Estimation by Request
      7,603 SF

      5620 Thunderbird Rd

      MEDICAL BUILDING • 7,603 SF
      5620 Thunderbird Rd, Glendale, AZ 85306-4636
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      42,478 SF

      Medical Office Complex For Sale

      Four-building medical office complex with suites available for purchase.
      16222 N 59Th Ave, Glendale, AZ 85306
      View Details
    • $1,800,000
      2.90 Acres

      Glendale Corporate Center Land

      2.9-acre commercial/residential lot
      5780 Beverly Ln, Glendale, AZ 85306
      View Details
    • $2,445,750

      Glendale Land Parcel Near Loop

      Land parcel suitable for various commercial development opportunities.
      16305 N 59Th Ave, Glendale, AZ 85306
      View Details
    • $170,000
      0.26 Acres

      Glendale Land Development Opportunity

      Well-located Glendale lot suitable for development or manufactured home.
      16047 N 67Th Ave, Glendale, AZ 85306
      View Details
    • Contact for pricing
      70,780 SF

      Greenway Plaza Retail Opportunity

      Retail spaces available in a well-established, high-traffic location.
      5830 W Greenway Rd, Glendale, AZ 85306
      View Details
    • $1,750,000

      Glendale Land for Sale

      Commercial land in a high-traffic corporate center.
      5780 W Beverly Ln, Glendale, AZ 85306
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      31,329 SF

      Glendale Medical Office Space for Lease

      Modern Medical Office Suite - Available October 1st
      5422 Thunderbird Rd, Glendale, AZ 85306
      View Details
    • $30 SF/Yr
      15,996 SF

      Thunderbird Medical Plaza: Glendale Office Space

      Glendale medical office suites, prime location.
      5310 Thunderbird Rd, Glendale, AZ 85306
      View Details
    • $26 SF/Yr
      3,690 SF

      Glendale Medical Office Space

      Prime Glendale medical office, 3,690 sq ft.
      5750 Thunderbird Rd, Glendale, AZ 85306
      View Details
    • $24 SF/Yr
      6,077 SF

      Glendale Medical Office Space

      Medical office space available for lease in Glendale, Arizona.
      5620 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    • Contact for pricing
      1,603 SF

      Medical Office Space For Lease

      Medical office space available within Banner Thunderbird Medical Campus.
      5757 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    • $27 SF/Yr
      2,653 SF

      Freestanding Office Space Available

      One-story office building with exterior loaded suite for rent.
      6591 W Thunderbird Rd, Glendale, AZ 85306
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    16222 59th Ave Ste A100
    Glendale, AZ 85306-1705
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.