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    Property profile & analytics

    18699 N 67Th Ave Glendale, AZ 85308

    • Medical Office Space
    • 55,677 SF
    • 0.49 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1537267
    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

    • Arizona Perinatal Care Centers / Medical Clinic
    • Valley Urologic Associates in Glendale Abrazo Arrowhead Campus / Medical Clinic / Physician
    • Phoenix Orthopedic Consultants / Physician
    • Arizona Gynecology Consultants / Medical Clinic
    • Vi N. Hua, MD, Valley Urologic Associates / Physician / Medical Clinic

    Property Details for 18699 N 67Th Ave

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    0.49 lot acres
    Property size
    55,677 SF
    Zone code
    C-2
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    200-28-856B
    APU
    20028856B

    Description

    Arrowhead Physicians Plaza, located at 18699 N 67th Ave in Glendale, Arizona (zip code 85308), offers exceptional office space for lease. This three-story building boasts a total of 43,745 square feet, providing ample room for various business needs. The property is categorized as both executive and medical office space, making it ideal for a range of professional tenants. Currently, there are 5,401 square feet of vacant space available, divisible into units ranging from a minimum of 2,276 square feet to a maximum contiguous space of 3,125 square feet. This flexibility allows for businesses of different sizes to find a suitable fit within the building. The building's location in Maricopa County offers convenient access to major transportation routes and amenities, making it an attractive option for businesses seeking a strategic location in Glendale. The property is designated as multi-tenant, providing a vibrant and collaborative work environment. Interested parties are encouraged to inquire about available spaces and lease terms. This prime Glendale location presents a unique opportunity for businesses seeking high-quality office space in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,135,000
      Market price range: $5.69M - $16.1M
      AI Estimate
      $16,135,000
      Market price range: $5.69M - $16.1M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $9,765,000
      Current use
      AUTO REPAIR, GARAGE
      $24,390,000
      Change: +150% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $17,065,000
      Change: +75% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $16,090,000
      Change: +65% Conversion: Difficult
      RETAIL STORES
      $14,795,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $10,765,000
      Change: +10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.202
    Latitude
    33.6547
    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
    $189,065
    $0.00
    $0.00
    $1,905,625
    -
    $190,100
    $11,359,140
    $11,549,240

    Comparable in this City

    • Value Estimation
      $2,105,000
      7,267 SF

      18555 79th Ave

      MEDICAL BUILDING • 7,267 SF
      18555 79th Ave, Glendale, AZ 85308-8370
      View Details
    • Value Estimation
      $960,000
      3,320 SF

      18275 59th Avel101

      MEDICAL BUILDING • 3,320 SF
      18275 59th Avel101, Glendale, AZ 85308-1260
      View Details
    • Value Estimation
      $945,000
      9,243 SF

      20100 51st Ave Ste E550

      MEDICAL BUILDING • 9,243 SF
      20100 51st Ave Ste E550, Glendale, AZ 85308-5089
      View Details
    • Value Estimation
      $3,525,000
      12,159 SF

      20325 51st Ave Ste, Unit 184

      MEDICAL BUILDING • 12,159 SF
      20325 51st Ave Ste, Glendale, AZ 85308-4625
      View Details
    • Value Estimation by Request
      5,520 SF

      18275 59th Aveb108

      MEDICAL BUILDING • 5,520 SF
      18275 59th Aveb108, Glendale, AZ 85308-1260
      View Details
    • Value Estimation by Request
      4,660 SF

      17100 67th Ave Ste, Unit 300

      MEDICAL BUILDING • 4,660 SF
      17100 67th Ave Ste, Glendale, AZ 85308-3657
      View Details

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    Glendale, AZ 85308
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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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