Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24890 Lake Pleasant Pkwy Peoria, AZ 85383

    • Outlet malls
    • 173,890 SF
    • 15.29 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0923687
    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

    • Pizza Hut Express / Restaurant
    • CVS Pharmacy / Pharmacy
    • Natalie Ouk / Physician
    • Target / Department Store
    • Nevzat Caliskanalp / Physician

    Property Details for 24890 Lake Pleasant Pkwy

    Year built
    2006
    Construction
    CONCRETE
    Lot size
    15.29 lot acres
    Property size
    173,890 SF
    Zone code
    PAD
    Property type
    Outlet malls
    APN
    201-08-167A
    APU
    20108167A

    Description

    This exceptional 25,000 square foot retail land parcel presents a unique investment opportunity in the thriving Peoria, Arizona market. Located at 24890 N Lake Pleasant Pkwy, this power center site offers unparalleled visibility and accessibility, situated in Maricopa County with a zip code of 85383. The entire 25,000 square feet is currently available for lease, providing a blank canvas for a diverse range of retail concepts. The property's strategic location ensures high traffic volume and exposure to a substantial consumer base. This is an ideal site for developers seeking to establish a new retail center or for existing businesses looking to expand their footprint in a high-growth area. The property's classification as a power center signifies its potential for large-format retail tenants, offering significant opportunities for long-term lease agreements and substantial returns on investment. The site's ample square footage allows for flexible design and development, catering to a variety of retail needs. With its prime location and significant size, this property represents a rare opportunity to secure a prominent position in the competitive Peoria retail landscape. The property is categorized as a multiple tenancy site, suggesting the potential for a diverse mix of businesses to create a vibrant and attractive retail destination. This presents a chance to create a synergistic retail environment that benefits all tenants. The property's location in Peoria, Arizona, offers access to a growing population and strong consumer spending. This is a compelling opportunity for investors and developers seeking a high-impact retail investment in a dynamic market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $91,006,000
      Market price range: $22.4M - $211M
      AI Estimate
      $91,006,000
      Market price range: $22.4M - $211M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $121,045,000
      Current use
      RESTAURANT
      $99,140,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.275
    Latitude
    33.7099
    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
    $202,992
    $0.00
    $0.00
    $4,373,129
    -
    $8,237,000
    $18,266,810
    $26,503,810

    Comparable in this City

    • Value Estimation
      $39,840,000
      88,357 SF

      10072 Happy Vly Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 88,357 SF
      10072 Happy Vly Pkwy, Peoria, AZ 85383-4253
      View Details
    • Value Estimation by Request
      114,700 SF

      25650 Lk Pleasant Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 114,700 SF
      25650 Lk Pleasant Pkwy, Peoria, AZ 85383-1244
      View Details
    • Value Estimation by Request
      20,000 SF

      24720 Lk Pleasant Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 20,000 SF
      24720 Lk Pleasant Pkwy, Peoria, AZ 85383-1355
      View Details
    • Value Estimation by Request
      139,095 SF

      25311 Lk Pleasant Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 139,095 SF
      25311 Lk Pleasant Pkwy, Peoria, AZ 85383-1353
      View Details
    • Value Estimation by Request
      84,158 SF

      25314 Lk Pleasant Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 84,158 SF
      25314 Lk Pleasant Pkwy, Peoria, AZ 85383-1367
      View Details
    • Value Estimation
      $3,390,000
      5,177 SF

      24786 67th Ave

      SHOPPING CENTER, STRIP CENTER • 5,177 SF
      24786 67th Ave, Peoria, AZ 85383-4251
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      180,000 SF

      Anchor Space in Peoria Center

      Junior anchor space available in a growing Peoria neighborhood.
      24640 N Lake Pleasant Pkwy, Peoria, AZ 85383
      View Details
    • Contact for pricing
      35,096 SF

      Retail Space Near Lake Pleasant

      Retail space available in North Peoria, shadow-anchored by Lowe’s.
      25101 N Lake Pleasant Pkwy, Peoria, AZ 85383
      View Details
    • $3,200,000
      4,478 SF

      Retail Space Near Major Retailers

      Retail space for sale in high-traffic location.
      9800 W Happy Valley Rd, Peoria, AZ 85383
      View Details
    • $379,900
      0.91 Acres

      Peoria Land with Mountain Views

      Land in Peoria, AZ, with magnificent 360-degree mountain views.
      28286 N 89Th Dr, Peoria, AZ 85383
      View Details
    • $369,999
      3.09 Acres

      Peoria, AZ Land For Sale

      3.09 acre commercial land available in Peoria, Arizona.
      W Westwind Dr, Peoria, AZ 85383
      View Details
    • $699,000
      1.50 Acres

      Peoria Hillside Lot with Plans

      1.5 acre lot with approved plans in Westwing Mountain.
      8489 W El Cortez Pl, Peoria, AZ 85383
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,000 SF

      Lake Pleasant Retail Land Opportunity

      Prime Peoria, AZ Power Center Land
      24890 Lake Pleasant Pkwy, Peoria, AZ 85383
      View Details
    • Contact for pricing
      170,000 SF

      Mixed-Use Project in Peoria, AZ

      Planned mixed-use project in Vistancia master planned community.
      El Mirage Rd & Lone Mtn Pkwy, Peoria, AZ 85383
      View Details
    • 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
    • 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
      View Details
    • 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
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24890 Lake Pleasant Pkwy
    Peoria, AZ 85383
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.