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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    20824 Riggs Rd Queen Creek, AZ 85142-7324

    • Retail space
    • 2,382 SF
    • 0.99 lot acres
    OFF-MARKET
    Last Sale
    Nov 24, 2021
    $3,170,000
    Value Estimations
    $2,340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3015057
    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

    • Starbucks / Cafe & Coffee Shop

    Property Details for 20824 Riggs Rd

    Year built
    2021
    Lot size
    0.99 lot acres
    Property size
    2,382 SF
    Property type
    Retail space
    APN
    304-97-979
    APU
    30497979

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,410,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,492,000
      Market price range: $321k - $1.49M
      AI Estimate
      $1,461,000
      Market price range: $310k - $1.46M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,910,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Queen Creek
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.634
    Latitude
    33.2201
    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
    $17,408
    $0.00
    $0.00
    $222,140
    -
    $677,600
    $668,704
    $1,346,304

    Comparable in this City

    • Value Estimation
      $2,625,000
      4,238 SF

      21317 Ellsworth Loop Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,238 SF
      21317 Ellsworth Loop Rd, Queen Creek, AZ 85142-9860
      View Details
    • Value Estimation by Request
      1.01 Acres

      Swc Ellsworth Rd & Empire Blvd

      Individual retail properties • 1.01 Acres
      0 Swc Ellsworth Rd & Empire Blvd, Queen Creek, AZ 85142
      View Details
    • Value Estimation
      $4,710,000
      7,600 SF

      18618 186th Way

      RETAIL STORES (PERSONAL SERVICES) • 7,600 SF
      18618 186th Way, Queen Creek, AZ 85142-1139
      View Details
    • Value Estimation
      $1,325,000
      2,134 SF

      21135 Ellsworth Loop Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,134 SF
      21135 Ellsworth Loop Rd, Queen Creek, AZ 85142-9855
      View Details
    • Value Estimation
      $2,950,000
      6,700 SF

      18550 Rittenhouse Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,700 SF
      18550 Rittenhouse Rd, Queen Creek, AZ 85142-4598
      View Details
    • Value Estimation
      $2,605,000
      7,040 SF

      23980 Power Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,040 SF
      23980 Power Rd, Queen Creek, AZ 85142-8413
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,915 SF

      Queen Creek Retail Space Available

      Retail space for sale in Queen Creek's Heritage Town Square.
      20850 East Heritage, Queen Creek, AZ 85142
      View Details
    • $3,550,000
      950 SF

      NNN Ground Lease Opportunity

      New 15-year NNN ground lease with corporate guaranty.
      23683 S Power Rd, Queen Creek, AZ 85142
      View Details
    • New
      $295,000
      1.51 Acres

      Established Glass Business For Sale

      Well-known glass company with recurring accounts, inventory, and goodwill.
      21755 E Mccowan Ln, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      21.05 Acres

      Hunt Highway Commercial Land

      Prime Queen Creek Development Site
      4901 Hunt Hwy, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      900,000 SF

      Queen Creek Retail Power Center

      Retail hub power center in Queen Creek, Arizona.
      21398 S Ellsworth Loop Rd, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      70,961 SF

      Esporta Anchored Retail Space

      Retail space in Queen Creek, anchored by Esporta Fitness.
      7215 S Power Rd, Queen Creek, AZ 85142
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,200 SF

      Retail Space in Queen Creek

      Retail space adjacent to proposed grocery-anchored development.
      25166 S Ellsworth Rd, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Queen Creek

      Retail space available within a shopping center with national retailers.
      21144 S Ellsworth Loop Rd, Queen Creek, AZ 85142
      View Details
    • $45 SF/Yr
      8,107 SF

      Queen Creek Medical Office Space

      New Medical Office Building, Prime Location
      2515 Hunt Hwy, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      8,500 SF

      Retail Space in Queen Creek

      Retail space available for lease in Queen Creek, Arizona.
      20955 E Ocotillo Rd, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      7,475 SF

      Retail Space in Queen Creek

      Retail space available in shopping center with national retailers.
      21118 S Ellsworth Loop Rd, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      1,062 SF

      Retail Pad For Lease

      Retail space available for lease in Queen Creek, Arizona.
      21152 S Rittenhouse Rd, Queen Creek, AZ 85142
      View Details

    Property Visit Statistics

    • Visits by month
      36.4k
    • Visitors by month
      18.6k
    • Avg Time on site
      14 min
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    20824 Riggs Rd
    Queen Creek, AZ 85142-7324
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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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