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    Property profile & analytics

    1828 N Litchfield Rd Goodyear, AZ 85338

    • Turn key restaurants
    • 6,792 SF
    • 1.94 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0728848
    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

    • Old Chicago Pizza + Taproom / Restaurant
    • Old Chicago / Restaurant

    Property Details for 1828 N Litchfield Rd

    Year built
    2001
    Construction
    STEEL FRAME
    Lot size
    1.94 lot acres
    Property size
    6,792 SF
    Zone code
    PAD
    Property type
    Turn key restaurants
    APN
    501-76-546
    APU
    50176546

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,867,000
      Market price range: $1.90M - $6.24M
      AI Estimate
      $3,600,000
      Market price range: $1.71M - $5.99M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $3,870,000
      Current use
      COMMERCIAL (GENERAL)
      $5,450,000
      Change: +41% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Goodyear
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.359
    Latitude
    33.4671
    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
    $34,489
    $0.00
    $0.00
    $454,883
    -
    $1,273,700
    $1,483,166
    $2,756,866

    Comparable in this City

    • Value Estimation
      $4,220,000
      7,937 SF

      1474 Litchfield Rd

      RESTAURANT • 7,937 SF
      1474 Litchfield Rd, Goodyear, AZ 85395-1263
      View Details
    • Value Estimation
      $3,425,000
      6,832 SF

      13766 Mcdowell Rd

      RESTAURANT • 6,832 SF
      13766 Mcdowell Rd, Goodyear, AZ 85395-2609
      View Details
    • Value Estimation
      $4,980,000
      6,772 SF

      15370 Mcdowell Rd

      RESTAURANT • 6,772 SF
      15370 Mcdowell Rd, Goodyear, AZ 85395-2531
      View Details
    • Value Estimation
      $4,870,000
      7,952 SF

      13319 Mcdowell Rd

      RESTAURANT • 7,952 SF
      13319 Mcdowell Rd, Goodyear, AZ 85395-2631
      View Details
    • Value Estimation
      $4,120,000
      6,375 SF

      1480 Litchfield Rd

      RESTAURANT • 6,375 SF
      1480 Litchfield Rd, Goodyear, AZ 85395-1263
      View Details
    • Value Estimation
      $2,955,000
      4,633 SF

      1218 Litchfield Rd

      RESTAURANT • 4,633 SF
      1218 Litchfield Rd, Goodyear, AZ 85395-1272
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Goodyear Shops Retail Opportunity

      Retail shops building near major anchors and hospital campus.
      13375 W Mcdowell Rd, Goodyear, AZ 85395
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      Retail Space in Goodyear, Arizona

      Premier shopping destination with retail, dining, and service spaces.
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      Retail Space in Goodyear, Arizona

      Premier shopping destination with retail, dining, and service spaces.
      2075 N Pebble Creek Pkwy, Goodyear, AZ 85395
      View Details
    • New
      $87,200
      8.61 Acres

      Agricultural Land in Goodyear, Arizona

      8.63 acres of agricultural land with development potential.
      XX83 99 Ave, Goodyear, AZ 85395
      View Details
    • Contact for pricing

      High-Visibility Land in Goodyear

      Land opportunity in a thriving retail and entertainment corridor.
      Sec Mcdowell Rd & Sarival Ave, Goodyear, AZ 85395
      View Details
    • $475,000
      50.00 Acres

      50 Acres Untouched Land Goodyear

      50 acres of land with mountain views in Goodyear, AZ.
      99th Ave & Alabaster Rd, Goodyear, AZ 85395
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,325 SF

      New Drive-Thru Building Available

      2,325 SF drive-thru on 1.32 acres, new construction.
      15600 W Mcdowell Rd, Goodyear, AZ 85395
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space with Drive-Thru Potential

      Retail property with drive-thru, near major community and freeway.
      18625 W Indian School Rd, Goodyear, AZ 85395
      View Details
    • Contact for pricing
      1,500 SF

      Drive-Thru Pad in Goodyear, AZ

      Drive-thru pad site near Loop 303 and I-10.
      18639 W Mackenzie Dr, Goodyear, AZ 85395
      View Details
    • Contact for pricing

      Goodyear Retail Space Available

      Retail spaces, drive-thru pads, and pads available for lease.
      Nec Indian School Rd & Perryville Rd, Goodyear, AZ 85395
      View Details
    • Contact for pricing
      3 SF

      Retail Space Available For Rent

      Retail space available for lease in Glendale, Arizona.
      Sec Bullard Ave & Mcdowell Rd, Glendale, AZ 85395
      View Details
    • Contact for pricing
      10,000 SF

      Goodyear Retail Center

      10,000 SF Retail Space Available
      16240 Indian School Rd, Goodyear, AZ 85395
      View Details
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    1828 N Litchfield Rd
    Goodyear, AZ 85338
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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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