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Property profile & analytics
FOR LEASE
Automotive properties

16991 W Waddell Rd Surprise, AZ 85388

45,944 SF 18.26 ac lot Built 2008
Individually Owned 18-yr Hold Free & Clear
Property ID
US07-1307356
Property summary
AI-generated overview

This exceptional retail property, located at 16991 W Waddell Rd in Surprise, Arizona (zip code 85388), offers a prime commercial investment opportunity. The property encompasses 9.47 acres and features a total of 336,473 square feet of retail space, currently divided into three suites. There are 8,000 square feet of vacant space immediately available, divisible into units as small as 1,200 square feet, with a maximum contiguous space of 8,000 square feet. The property boasts ample parking with 310 spaces, providing a generous 8.5 spaces per 1,000 square feet. Its strategic location offers unparalleled access to high traffic volume, situated near the full-diamond interchange with the Loop 303 Freeway and a Walmart Supercenter. The area is experiencing significant residential growth, with over 3,000 single-family home permits issued in Surprise within the last five years, ensuring a robust and expanding customer base. Furthermore, its proximity to Arizona's largest auto complex, the 303 Autoshow (250 acres), provides additional exposure and foot traffic. This property presents a unique chance to capitalize on a thriving retail market in a rapidly developing area of Maricopa County.

Property profile
Verified
Property type Automotive properties
Use group VEHICLE SALES, RENTALS
Year built 2008
Construction CONCRETE
Total area 45,944 SF
Lot 18.26 ac (795,397 SF)
Zoning code PAD
APN 501-40-949
UPID US07-1307356
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$34.26M
Blend (final) Blend
$33.83M
Owner & transaction history
Sands Surprise Real Estate Chevy Ll · 18 yrs held
Sands Surprise Real Estate Chevy Ll
since 2007
7 recorded transactions
2020
Price N/A
2007
$6.3M
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
PAD · Surprise, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

(PAD) zoning district prior to the adoption of this ordinance . The PAD zoning designation now serves only to preserve the governing entitlement documents adopted by city council for each PAD at the time of the adoption of this ordinance. Existing PADs may have individual development standards, land uses , and densities that supersede the zoning standards co…

Zone name Planned Area Development
General category PLANNED_DEVELOPMENT
Zone area 42,500.99 ac
Source municipal code
Top alternative use upside
Commercial (general) $36.9M +80.8%
Restaurant $26.2M +28.4%
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