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    1929 Ray Rd Chandler, AZ 85225-8722

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    1929 Ray Rd Chandler, AZ 85225-8722

    View on Map
    • Strip malls
    • 10,442 SF
    • 1.47 lot acres
    Off-Market
    Last Sale Dec 28, 2021
    Property ID
    US07-2552862
    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.
    Value Estimations
    $4,475,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Brennan Dental / Dental Office
    • HawSaw Inc / Courier Service / Postal Service
    • Hālau Ho'okahi I Ka Hula / Training Center
    • Achiote Latin Cuisine / Restaurant
    • Jonathan Brennan / Dental Office

    Property Details for 1929 Ray Rd

    Year built
    1996
    Construction
    CONCRETE
    Lot size
    1.47 lot acres
    Property size
    10,442 SF
    Zone code
    PAD
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    302-84-946
    APU
    30284946

    Description

    This exceptional 999-square-foot retail space is located in a thriving Chandler, Arizona retail center at 1929 E Ray Rd, near the intersection of Ray Road and Cooper Road. The property is classified as Class C and features a single-tenant occupancy. The space is currently vacant and offers a wide-open layout, perfect for customization to suit a variety of business needs. A restroom is conveniently included within the unit. The zoning designation is PAD (Planned Area Development), offering flexibility for potential tenants. The property's Maricopa County Assessor's Parcel Number (APN) is 302-84-946. This location provides excellent visibility and accessibility, making it an attractive opportunity for entrepreneurs seeking a well-situated retail space in a high-traffic area of Chandler. The zip code is 85225. This is a single-tenant retail property offering a blank canvas for your business vision. The open floor plan allows for maximum flexibility in design and layout. The property's convenient location and ample space make it an excellent investment opportunity. Serious inquiries are encouraged to explore the potential of this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,740,000
      Market price range: $2.56M - $13.8M
      AI Estimate
      $4,210,000
      Market price range: $1.52M - $12.2M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $6,630,000
      Current use
      RESTAURANT
      $5,420,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chandler
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.808
    Latitude
    33.3193
    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
    $17,578
    $0.00
    $0.00
    $352,803
    -
    $703,600
    $1,434,600
    $2,138,200

    Comparable in this City

    • Value Estimation
      $3,920,000
      7,375 SF

      155 Ray Rd

      SHOPPING CENTER, STRIP CENTER • 7,375 SF
      155 Ray Rd, Chandler, AZ 85225-3303
      View Details
    • Value Estimation
      $14,530,000
      37,273 SF

      1022 Arizona Ave

      SHOPPING CENTER, STRIP CENTER • 37,273 SF
      1022 Arizona Ave, Chandler, AZ 85225-6600
      View Details
    • Value Estimation
      $25,290,000
      28,708 SF

      2051 Arizona Ave

      SHOPPING CENTER, STRIP CENTER • 28,708 SF
      2051 Arizona Ave, Chandler, AZ 85225-3444
      View Details
    • Value Estimation
      $1,660,000
      6,000 SF

      1033 Arizona Ave

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      1033 Arizona Ave, Chandler, AZ 85225-6693
      View Details
    • Value Estimation
      $8,000,000
      10,625 SF

      393 Warner Rd

      SHOPPING CENTER, STRIP CENTER • 10,625 SF
      393 Warner Rd, Chandler, AZ 85225-3441
      View Details
    • Value Estimation
      $5,005,000
      11,066 SF

      960 Warner Rd

      SHOPPING CENTER, STRIP CENTER • 11,066 SF
      960 Warner Rd, Chandler, AZ 85225-1041
      View Details

    Similar Nearby for Sale

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    • $899,999
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      Prime Chandler Commercial Property

      Versatile building, high visibility, low fees.
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      Prime Commercial Land in Chandler

      Exceptional visibility, hard corner location, multiple development possibilities.
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    • New
      $895,000
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      Chandler Multifamily Property For Sale

      Multifamily property in Chandler, Arizona, available for purchase.
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      32,815 SF

      Prime Commercial Land For Lease

      Commercial land available for lease in Chandler, Arizona.
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    Similar Nearby for Lease

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      3,469 SF

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      Retail space available in Fulton Ranch Towne Center.
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      Retail Strip Center For Lease

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      1050 E Pecos Rd, Chandler, AZ 85225
      View Details
    • $19 SF/Yr
      1,107 SF

      Chandler Retail Space For Lease

      Multi-tenant shopping center with frontage on Arizona Ave & Warner Rd.
      2041-2091 N Arizona Ave, Chandler, AZ 85225
      View Details
    • Contact for pricing
      1,601 SF

      Retail Space in Fulton Ranch

      Premier retail space in a high-end, lake-based community.
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      24,870 SF

      Retail Space in Chandler, Arizona

      Retail property available for lease in Chandler, Arizona.
      2031 N Arizona Ave, Chandler, AZ 85225
      View Details
    • Contact for pricing

      Restaurant Sublease Opportunity Available

      Restaurant sublease available at Chandler Blvd & Arizona Avenue.
      58 W Buffalo St, Chandler, AZ 85225
      View Details
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    1929 Ray Rd
    Chandler, AZ 85225-8722
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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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