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    20826 Riggs Rd Queen Creek, AZ 85142-7324
    Property profile & analytics

    20826 Riggs Rd, Queen Creek, AZ 85142-7324

    View on Map
    • Medical Office Space
    • 3,207 SF
    • 0.74 lot acres
    Off-Market
    Last Sale May 22, 2024
    Property ID
    US07-0246228
    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
    $1,245,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dental Care of Citrus Groves / Dental Office
    • Dr. Maham Chaudhry / Dental Office
    • Maham Fayyaz Chaudhry / Dental Office
    • Lea Ready, DMD / Dental Office

    Property Details for 20826 Riggs Rd

    Year built
    2021
    Lot size
    0.74 lot acres
    Property type
    Medical Office Space
    Property subtype
    Medical space
    APN
    304-97-981
    APU
    30497981

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 22, 2024 — Kerry Linthicum Kcl Holdings LLC Special Warranty Deed —
    Feb 1, 2022 $2,750,000 Kcl Holdings LLC Evergreen Ellsworth & Riggs LLC Special Warranty Deed $1.1M · Midfirst Bank
    Jun 10, 2021 $2,000,000 Accenture Investments LLC Ace Investments LLC Special Warranty Deed $1.3M · Firstbank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,245,000
      Market price range: $401k - $1.25M
      AI Estimate
      $1,242,000
      Market price range: $374k - $1.24M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $815,000
      Current use
      AUTO REPAIR, GARAGE
      $1,425,000
      Change: +74% Conversion: Difficult
      RETAIL STORES
      $1,080,000
      Change: +32% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,015,000
      Change: +24% Conversion: Difficult
      OFFICE BUILDING
      $765,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Queen Creek
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.634
    Latitude
    33.2205
    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
    $16,755
    $0.00
    $0.00
    $258,161
    -
    $585,800
    $978,814
    $1,564,614

    Comparable in this City

    • Value Estimation
      $2,680,000
      22,188 SF

      18610 Rittenhouse Rd Ste A102

      MEDICAL BUILDING
      18610 Rittenhouse Rd Ste A102, Queen Creek, AZ 85142-4504
      View Details
    • Value Estimation
      $2,680,000
      22,188 SF

      18610 Rittenhouse Rd Ste A105

      MEDICAL BUILDING
      18610 Rittenhouse Rd Ste A105, Queen Creek, AZ 85142-4504
      View Details
    • Value Estimation
      $1,175,000
      9,723 SF

      Queen Creek, AZ 85142

      MEDICAL BUILDING
      Queen Creek, AZ 85142
      View Details
    • Value Estimation
      $2,800,000
      15,019 SF

      18610 Rittenhouse Rd Ste B105

      MEDICAL BUILDING
      18610 Rittenhouse Rd Ste B105, Queen Creek, AZ 85142-4505
      View Details
    • Value Estimation
      $2,800,000
      15,019 SF

      18610 Rittenhouse Rd, Unit B108

      MEDICAL BUILDING
      18610 Rittenhouse Rd, Queen Creek, AZ 85142-4503
      View Details
    • Value Estimation
      $1,840,000
      9,723 SF

      22711 Ellsworth Rd, Unit G3B

      MEDICAL BUILDING
      22711 Ellsworth Rd, Queen Creek, AZ 85142-6788
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,644 SF

      Queen Creek Medical Office Building

      Prime Medical Space, 30,644 SF
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    • Contact for pricing
      30,644 SF

      Queen Creek Medical Office For Sale

      Prime Medical Office Space in Arizona
      0 Swc Ellsworth & Santan Blvd Bldg D, Queen Creek, AZ 85142
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      30,644 SF

      Queen Creek Medical Office Building

      Prime Medical Space, 30,644 SF
      0 Swc Ellsworth & Santan Blvd Bldg C, Queen Creek, AZ 85142
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      30,644 SF

      Queen Creek Medical Office Building

      Prime AZ Medical Office Space Available
      0 Swc Ellsworth & Santan Blvd Bldg D, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      30,644 SF

      Queen Creek Medical Office Building

      Prime AZ Medical Office Space Available
      0 Swc Ellsworth & Santan Blvd Bldg B, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      30,644 SF

      Queen Creek Medical Office Building

      Prime AZ Medical Office Space Available
      0 Swc Ellsworth & Santan Blvd Bldg D, Queen Creek, AZ 85142
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,644 SF

      Queen Creek Office Space Available

      Prime Office Suites, 1,758-3,450 SF
      0 Swc Ellsworth & San Tan Blvd, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      30,000 SF

      New Queen Creek Office Spaces

      Modern office suites, 850-30,000 sq ft
      2515 Hunt Hwy, Queen Creek, AZ 85142
      View Details
    • $21 SF/Yr
      16,284 SF

      Queen Creek Industrial Space For Lease

      Modern Manufacturing/Warehouse Space Available
      22275 Scotland Ct, Queen Creek, AZ 85142
      View Details
    • Contact for pricing

      Mixed-Use Development in Queen Creek

      10-acre mixed-use development with retail, restaurants, and office space.
      Ellsworth Loop Rd & Ocotillo Rd, Queen Creek, AZ 85142
      View Details
    • Contact for pricing

      Retail Opportunity in Queen Creek

      Retail spaces available in rapidly growing Queen Creek and San Tan.
      2515 W Hunt Hwy, Queen Creek, AZ 85142
      View Details
    • Contact for pricing
      30,000 SF

      Office Space in Queen Creek

      New office space available for lease in Queen Creek.
      S Ellsworth Loop Rd, Queen Creek, AZ 85142
      View Details

    Property Visit Statistics

    • Visits by month
      43.9k
    • Visitors by month
      27.9k
    • Avg Time on site
      7 min
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    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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    20826 Riggs Rd, Queen Creek, AZ, 85142
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