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

    24870 Lk Pleasant Pkwy Peoria, AZ 85383-1357

    • Strip malls
    • 7,020 SF
    • 0.78 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2023
    $2,900,000
    Value Estimations
    $2,840,000
    Show details
    Cap Rate Potential
    3.9%
    Strip malls
    Location Intelligence
    Property ID
    US07-1001337
    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

    • Barre3 North Peoria / Gym & Fitness Center
    • Baskin-Robbins / Grocery & Convenience Store / Specialty Food Shop
    • Nekter Juice Bar / Restaurant
    • Amazing Lash Studio / Hair Salon / Nail Salon

    Property Details for 24870 Lk Pleasant Pkwy

    Year built
    2007
    Construction
    STEEL FRAME
    Lot size
    0.78 lot acres
    Property size
    7,020 SF
    Zone code
    PAD
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    201-08-150
    APU
    20108150

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,855,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,860,000
      6.5%
      $1,715,000
      7%
      $1,595,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,706,000
      Market price range: $1.15M - $5.74M
      AI Estimate
      $1,977,000
      Market price range: $549k - $3.64M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,675,000
      Current use
      RESTAURANT
      $4,000,000
      Change: +50% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,820,000
      Change: +43% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,890,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.273
    Latitude
    33.7095
    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
    $20,814
    $0.00
    $0.00
    $240,059
    -
    $410,200
    $1,044,700
    $1,454,900

    Comparable in this City

    • Value Estimation by Request

      Peoria, AZ 85383

      SHOPPING CENTER, STRIP CENTER
      Peoria, AZ 85383
      View Details
    • Value Estimation by Request
      10,527 SF

      24920 Lk Pleasant Pkwy

      SHOPPING CENTER, STRIP CENTER • 10,527 SF
      24920 Lk Pleasant Pkwy, Peoria, AZ 85383-1356
      View Details
    • Value Estimation by Request
      8,528 SF

      24762 Lk Pleasant Pkwy

      SHOPPING CENTER, STRIP CENTER • 8,528 SF
      24762 Lk Pleasant Pkwy, Peoria, AZ 85383-1432
      View Details
    • Value Estimation
      $3,765,000
      7,200 SF

      9811 Happy Vly Rd

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      9811 Happy Vly Rd, Peoria, AZ 85383-1251
      View Details
    • Value Estimation
      $2,830,000
      7,646 SF

      9710 Happy Vly Rd

      SHOPPING CENTER, STRIP CENTER • 7,646 SF
      9710 Happy Vly Rd, Peoria, AZ 85383-1214
      View Details
    • Value Estimation
      $2,865,000
      7,450 SF

      25355 Lk Pleasant Pkwy

      SHOPPING CENTER, STRIP CENTER • 7,450 SF
      25355 Lk Pleasant Pkwy, Peoria, AZ 85383-1503
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      35,096 SF

      Retail Space Near Lake Pleasant

      Retail space available in North Peoria, shadow-anchored by Lowe’s.
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      Anchor Space in Peoria Center

      Junior anchor space available in a growing Peoria neighborhood.
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      Retail space for sale in high-traffic location.
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      Land for dream home with golf course and city views.
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      Land in Peoria, AZ, with magnificent 360-degree mountain views.
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      Peoria, AZ Land For Sale

      3.09 acre commercial land available in Peoria, Arizona.
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    Similar Nearby for Lease

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      170,000 SF

      Mixed-Use Project in Peoria, AZ

      Planned mixed-use project in Vistancia master planned community.
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      25,000 SF

      Lake Pleasant Retail Land Opportunity

      Prime Peoria, AZ Power Center Land
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    • Contact for pricing
      24,841 SF

      Peoria Retail Power Center Opportunity

      Prime Peoria location, 19,180 SF available
      0 Nwc Lk Pleasant Pkwy & Happy Vly Rd, Peoria, AZ 85383
      View Details
    • Contact for pricing
      20,000 SF

      Retail Space in Peoria, Arizona

      Retail property for lease in a high-growth residential area.
      24760 N Lake Pleasant Pkwy, Peoria, AZ 85383
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    • Contact for pricing
      2,517 SF

      Retail Space in Peoria, Arizona

      Prime retail space in a thriving Peoria master-planned community.
      9980 W Happy Valley Rd, Peoria, AZ 85383
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    • Contact for pricing
      1,004 SF

      Retail Space in Peoria, Arizona

      Retail property for lease in a master-planned community.
      9918-10134 W Happy Valley Rd, Peoria, AZ 85383
      View Details
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    Peoria, AZ 85383-1357
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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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