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    343 Monroe Ave Buckeye, AZ 85326

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    343 Monroe Ave Buckeye, AZ 85326

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    • Retail space
    • 10,962 SF
    • 0.65 lot acres
    For Lease
    $2,020,000
    View Listing →
    Downtown Buckeye Commercial Property For Lease
    $2,020,000

    Downtown Buckeye Commercial Property

    Commercial property in downtown Buckeye, ideal for retail or dining.

    343 Monroe Ave, Buckeye, AZ 85326
    View Listing
    Property ID
    US07-1588658
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Gelato Tavern / Cafe & Coffee Shop
    • DeGiNo Coffee Bar / Cafe & Coffee Shop
    • West Streets Studio / (Bike/Boat/Book/etc) Store / Photography Service
    • Rancheros Rodeo Restaurant / Restaurant
    • CookieSuperb LLC / Bakery / Specialty Food Shop

    Property Details for 343 Monroe Ave

    Year built
    1915
    Lot size
    0.65 lot acres
    Property size
    10,962 SF
    Property type
    Retail space
    APN
    400-27-001A
    APU
    40027001A

    Description

    This exceptional 12,350 square foot commercial property, located at 343 Monroe Ave, Buckeye, AZ 85326 (corner of Monroe & 4th St), presents a unique investment opportunity in the heart of downtown Buckeye. Built in 1915 and extensively renovated in 2022, this single-story building offers five suites, ranging from a minimum of 667 square feet to a maximum contiguous space of 5,111 square feet. Currently, three spaces are available, totaling 9,681 square feet of vacant space, ideal for a variety of uses. The property's diverse tenant mix includes a coffee shop, a creative photoshoot company, and a bath product line business, demonstrating its appeal to a broad range of businesses. Previously occupied by a Mexican restaurant, the space is adaptable to various concepts, including retail, dining, or service-based businesses. The 0.65-acre lot provides ample space, and the property includes 29 parking spaces for customer and tenant convenience. This prime location ensures high foot traffic, making it an excellent choice for businesses seeking visibility and accessibility in a thriving downtown area. The property's history and recent renovations combine to offer a unique blend of character and modern amenities. Don't miss this chance to establish your business in this vibrant and growing community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,042,000
      Market price range: $1.48M - $6.87M
      AI Estimate
      $1,998,000
      Market price range: $1.43M - $6.73M

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

    Location Insight

    • Map
    • Local Demand
    City
    Buckeye
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.587
    Latitude
    33.3701
    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
    $13,836
    $0.00
    $0.00
    $212,919
    -
    $419,500
    $886,176
    $1,305,676

    Comparable in this City

    • Value Estimation
      $960,000
      6,250 SF

      126 4th St

      RETAIL STORES (PERSONAL SERVICES) • 6,250 SF
      126 4th St, Buckeye, AZ 85326-2802
      View Details
    • Value Estimation
      $500,000
      2,523 SF

      501 Monroe Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,523 SF
      501 Monroe Ave, Buckeye, AZ 85326-2805
      View Details
    • Value Estimation by Request
      1,000 SF

      608 Monroe Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      608 Monroe Ave, Buckeye, AZ 85326-2808
      View Details
    • Value Estimation
      $1,485,000
      11,220 SF

      805 Jackrabbit Trl Ste, Unit 105

      RETAIL STORES (PERSONAL SERVICES) • 11,220 SF
      805 Jackrabbit Trl Ste, Buckeye, AZ 85326-6063
      View Details
    • Value Estimation
      $2,970,000
      7,350 SF

      6125 Miller Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,350 SF
      6125 Miller Rd, Buckeye, AZ 85326-1263
      View Details
    • Value Estimation by Request
      652 SF

      826 Monroe Ave

      RETAIL STORES (PERSONAL SERVICES) • 652 SF
      826 Monroe Ave, Buckeye, AZ 85326-2910
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,944 SF

      Buckeye Office/Retail Opportunity

      12,944 SF office/retail property near Downtown Buckeye.
      25560w W Mc 85, Buckeye, AZ 85326
      View Details
    • $3,400,000
      12,945 SF

      Buckeye Retail and Office Space

      Executive office and retail space with drive-thru potential.
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      View Details
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      Buckeye Retail/Office Opportunity Available

      Excellent retail/office opportunity in Buckeye, surrounded by residential developments.
      W Lower Buckeye Rd, Buckeye, AZ 85326
      View Details
    • Contact for pricing

      Retail Buildings Available Soon

      Two 6,400 SF retail buildings for lease.
      25055 West Southern Ave, Buckeye, AZ 85326
      View Details
    • Contact for pricing
      14,820 SF

      Retail Property in Growing Buckeye

      Freestanding Walgreens retail property in a rapidly growing area.
      25073 W Southern Ave, Buckeye, AZ 85326
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      17.42 Acres

      Prime Buckeye Industrial Land

      17.42 Acres, Ideal Commercial/Industrial Use
      0 Miller Rd, Buckeye, AZ 85326
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,598 SF

      Retail Space in Growing Buckeye

      Retail space available in a rapidly growing area of Buckeye.
      1177 S Watson Rd, Buckeye, AZ 85326
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Power Center

      Retail space available in a multi-anchored power center.
      860 S Watson Rd, Buckeye, AZ 85326
      View Details
    • Contact for pricing
      1,525 SF

      Retail Space in Growing Buckeye

      Retail space with high visibility in fast-growing Buckeye, Arizona.
      6213 S Miller Rd, Buckeye, AZ 85326
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space on Watson Road

      Retail space in high-traffic Buckeye location near I-10.
      525 S Watson Rd, Buckeye, AZ 85326
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space Near I-10 Freeway

      High-visibility retail space with easy access to I-10.
      20570 W Roosevelt St, Buckeye, AZ 85326
      View Details
    • Contact for pricing
      1,060 SF

      Retail Space Near Future Hospital

      Retail space with high visibility near upcoming Abrazo Health campus.
      20640 W Roosevelt St, Buckeye, AZ 85326
      View Details
    View Listing
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    343 Monroe Ave
    Buckeye, AZ 85326
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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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    343 Monroe Ave, Buckeye, AZ, 85326

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