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    Property profile & analytics

    1626 Litchfield Rd Goodyear, AZ 85395-1254

    • Office buildings
    • 62,273 SF
    • 5.19 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2021
    $14,500,000
    Value Estimations
    $15,615,000
    Show details
    Cap Rate Potential
    5.2%
    Office buildings
    Location Intelligence
    Property ID
    US07-0828201
    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

    • Quartz & Granite Countertops / Kitchen & Bath Showroom / Hardware & Home Improvement
    • Associated Retina Consultants / Medical Clinic
    • Great American Title Agency - Palm Valley Office / Title Company / Escrow Service
    • Spooner Goodyear / Medical Clinic
    • Barnet Dulaney Perkins Eye Center / Optician / Optometrist

    Property Details for 1626 Litchfield Rd

    Year built
    2007
    Construction
    STEEL FRAME
    Lot size
    5.19 lot acres
    Property size
    62,273 SF
    Zone code
    PAD
    Property type
    Office buildings
    APN
    501-76-956
    APU
    50176956

    Description

    This exceptional 3,010 square foot executive office space is available for lease in the prestigious Palm Valley Office Park III, located at 1626 N Litchfield Rd, Goodyear, Arizona 85395. The property is a single-tenant building, offering complete privacy and control. Situated in Maricopa County, this location provides easy access to major transportation routes, making commuting a breeze. The entire 3,010 square feet is currently vacant and ready for immediate occupancy, allowing for complete customization to suit your business needs. The building's modern design and efficient layout offer a professional and productive work environment. This is an unparalleled opportunity to establish your business in a highly desirable and convenient location. The property is classified as an Executive Office space, suggesting a high-quality build and finish. This single-tenant occupancy ensures a quiet and focused work environment, free from the distractions of shared spaces. The address is easily accessible and well-suited for clients and employees alike. This turnkey solution allows for immediate move-in and the commencement of operations without delay. Don't miss this chance to secure this exceptional office space in Goodyear, Arizona.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $18,580,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,110,000
      6.5%
      $14,870,000
      7%
      $13,810,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $18,560,000
      Current use
      RETAIL STORES
      $20,950,000
      Change: +13% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $19,665,000
      Change: +6% Conversion: Difficult
      MEDICAL BUILDING
      $15,855,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Goodyear
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.361
    Latitude
    33.4652
    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
    $183,600
    $0.00
    $0.00
    $2,149,066
    -
    $1,933,600
    $11,091,040
    $13,024,640

    Comparable in this City

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      View Details
    • Value Estimation
      $1,005,000
      9,000 SF

      2700 140th Ave, Unit 233

      OFFICE BUILDING • 9,000 SF
      2700 140th Ave, Goodyear, AZ 85395-2439
      View Details
    • Value Estimation
      $1,005,000
      9,000 SF

      2700 140th Ave, Unit 252

      OFFICE BUILDING • 9,000 SF
      2700 140th Ave, Goodyear, AZ 85395-2439
      View Details
    • Value Estimation by Request
      772 SF

      15550 Harvard St

      OFFICE BUILDING • 772 SF
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    • Value Estimation
      $2,115,000
      3,850 SF

      2950 Litchfield Rd, Unit 1

      OFFICE BUILDING • 3,850 SF
      2950 Litchfield Rd, Goodyear, AZ 85395-7800
      View Details
    • Value Estimation
      $1,125,000
      3,850 SF

      3060 Litchfield Rd, Unit 1-160

      OFFICE BUILDING • 3,850 SF
      3060 Litchfield Rd, Goodyear, AZ 85395-7807
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Premier shopping destination with retail, dining, and service spaces.
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      1.02 Acres

      Goodyear Commercial Land - 1.02 Acres

      Prime Goodyear location, C-2 PAD zoning, high growth area.
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      Retail Space in Goodyear, Arizona

      Premier shopping destination with retail, dining, and service spaces.
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      I-8 & I-10 Interchange Land

      1,200 Acres, Mixed-Use Development
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      Goodyear AZ Land: 80 Acres

      Prime 80-acre residential development opportunity in Goodyear, AZ.
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    Similar Nearby for Lease

    • $11 SF/Yr
      5,921 SF

      Goodyear Office Space Available

      Flexible workspace solutions in Goodyear, AZ.
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    • $3,500 /Mo
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      Office Space with High Ceilings

      Office suite with attractive finishes and collaborative areas for rent.
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    • $25 SF/Yr
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      Goodyear Medical Office Space

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      3,815 SF

      Medical Office Near West Valley Hospital

      Medical office space available near West Valley Hospital.
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    • $35 SF/Yr
      83,971 SF

      Palm Valley Office Park: Goodyear, AZ

      Class A Office Space, West Valley Location
      1616 Litchfield Rd, Goodyear, AZ 85395
      View Details
    • $25 SF/Yr
      3,850 SF

      Professional Office Suites For Lease

      Office suites available for lease in Palm Valley.
      2950 N Litchfield Rd, Goodyear, AZ 85395
      View Details
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    1626 Litchfield Rd
    Goodyear, AZ 85395-1254
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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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