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

    21244 Ocotillo Rd Queen Creek, AZ 85142-9667

    • Outlet malls
    • 15,639 SF
    • 1.63 lot acres
    OFF-MARKET
    Last Sale
    Aug 23, 2023
    $4,605,000
    Value Estimations
    $4,735,000
    Show details
    Cap Rate Potential
    4.2%
    Outlet malls
    Location Intelligence
    Property ID
    US07-1821270
    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

    • KeyExpress Locksmiths / Key Duplication Service / Locksmith
    • Harbor Freight Tools / Hardware Store / Tool Store

    Property Details for 21244 Ocotillo Rd

    Year built
    2019
    Lot size
    1.63 lot acres
    Property size
    15,639 SF
    Zone code
    C-2
    Property type
    Outlet malls
    APN
    304-67-934
    APU
    30467934

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,705,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,285,000
      6.5%
      $3,035,000
      7%
      $2,815,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,607,000
      Market price range: $2.11M - $9.80M
      AI Estimate
      $6,463,000
      Market price range: $2.03M - $9.60M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,260,000
      Current use
      AUTO REPAIR, GARAGE
      $6,945,000
      Change: +32% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,940,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Queen Creek
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.625
    Latitude
    33.2492
    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
    $41,812
    $0.00
    $0.00
    $688,609
    -
    $2,061,900
    $2,111,490
    $4,173,390

    Comparable in this City

    • Value Estimation by Request
      18,300 SF

      21118 Ellsworth Loop Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 18,300 SF
      21118 Ellsworth Loop Rd, Queen Creek, AZ 85142-7676
      View Details
    • Value Estimation by Request
      124,051 SF

      7401 Power Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 124,051 SF
      7401 Power Rd, Queen Creek, AZ 85142-6219
      View Details
    • Value Estimation by Request
      25,002 SF

      21437 Ellsworth Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 25,002 SF
      21437 Ellsworth Rd, Queen Creek, AZ 85142-9849
      View Details
    • Value Estimation by Request
      42,369 SF

      21536 Ellsworth Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 42,369 SF
      21536 Ellsworth Rd, Queen Creek, AZ 85142
      View Details
    • Value Estimation by Request
      87,912 SF

      21058 Ellsworth Loop Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 87,912 SF
      21058 Ellsworth Loop Rd, Queen Creek, AZ 85142-7675
      View Details
    • Value Estimation by Request
      176,518 SF

      21398 Ellsworth Loop Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 176,518 SF
      21398 Ellsworth Loop Rd, Queen Creek, AZ 85142-5379
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      900,000 SF

      Queen Creek Retail Power Center

      Retail hub power center in Queen Creek, Arizona.
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      70,961 SF

      Esporta Anchored Retail Space

      Retail space in Queen Creek, anchored by Esporta Fitness.
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      21.05 Acres

      Hunt Highway Commercial Land

      Prime Queen Creek Development Site
      4901 Hunt Hwy, Queen Creek, AZ 85142
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    • $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
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    • Contact for pricing
      3,915 SF

      Queen Creek Retail Space Available

      Retail space for sale in Queen Creek's Heritage Town Square.
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      6,000 SF

      Retail Property Near Barney Farms

      Retail property in growing Queen Creek, near major developments.
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    Similar Nearby for Lease

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      1,200 SF

      Retail Space in Queen Creek

      Neighborhood retail space available for lease in Queen Creek.
      19011 San Tan Blvd, Queen Creek, AZ 85142
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      28,025 SF

      Regional Center Retail Space Available

      28,025 SF retail space in dominant regional center.
      21118-21308 S Ellsworth Loop Rd, Queen Creek, AZ 85142
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    • 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
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    • Contact for pricing
      98,010 SF

      Queen Creek Retail Center Opportunity

      Prime Retail Space, 2.25 Acres
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    • Contact for pricing
      7,153 SF

      Retail Space in Queen Creek

      Retail space available within a shopping center with national retailers.
      21156 S Ellsworth Loop 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

    Property Visit Statistics

    • Visits by month
      18.7k
    • Visitors by month
      14.0k
    • Avg Time on site
      16 min
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    Queen Creek, AZ 85142-9667
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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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