Add Listing
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

    40202 87th Ave Peoria, AZ 85383-9744

    • Office buildings
    • 2,988 SF
    • 218.97 lot acres
    OFF-MARKET
    Value Estimations
    $810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1737030
    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

    • Dillon's Bayou at Pleasant Harbor / Restaurant
    • Lake Pleasant Fire Station / Fire Station
    • SC Wake SeaDek / Big Box & Wholesale Store / (Bike/Boat/Book/etc) Store
    • LAKE PLEASANT MARINA / Marina
    • SC Wake SeaDek Marine Boat Flooring | SC Mudz SXS Mats / Big Box & Wholesale Store / (Bike/Boat/Book/etc) Store

    Property Details for 40202 87th Ave

    Year built
    1970
    Construction
    CONCRETE
    Lot size
    218.97 lot acres
    Property size
    2,988 SF
    Zone code
    SR-43
    Property type
    Office buildings
    APN
    201-23-007
    APU
    20123007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $886,000
      Market price range: $219k - $887k
      AI Estimate
      $733,000
      Market price range: $175k - $733k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $520,000
      Current use
      AUTO REPAIR, GARAGE
      $1,230,000
      Change: +138% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,140,000
      Change: +120% Conversion: Difficult
      MEDICAL BUILDING
      $725,000
      Change: +40% Conversion: Easy
      WAREHOUSE, STORAGE
      $610,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.251
    Latitude
    33.85
    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
    $0.00
    $0.00
    $0.00
    $7,598,587
    -
    $43,980,600
    $6,676,648
    $50,657,248

    Comparable in this City

    • Value Estimation
      $785,000
      2,887 SF

      12026 Lone Mtn Pkwy

      OFFICE BUILDING • 2,887 SF
      12026 Lone Mtn Pkwy, Peoria, AZ 85383-7834
      View Details
    • Value Estimation
      $540,000
      5,172 SF

      9772 Yearling Rd, Unit 1640

      OFFICE BUILDING • 5,172 SF
      9772 Yearling Rd, Peoria, AZ 85383-1380
      View Details
    • Value Estimation
      $865,000
      3,185 SF

      29799 Lk Pleasant Rd

      OFFICE BUILDING • 3,185 SF
      29799 Lk Pleasant Rd, Peoria, AZ 85383
      View Details
    • Value Estimation by Request
      2,393 SF

      29701 Sunrise Pt

      OFFICE BUILDING • 2,393 SF
      29701 Sunrise Pt, Peoria, AZ 85383-2400
      View Details
    • Value Estimation by Request
      2,511 SF

      27980 Trilogy Blvd Ste, Unit 101

      OFFICE BUILDING • 2,511 SF
      27980 Trilogy Blvd Ste, Peoria, AZ 85383-4201
      View Details
    • Value Estimation by Request
      3,567 SF

      9840 Yearling Rd, Unit 1200

      OFFICE BUILDING • 3,567 SF
      9840 Yearling Rd, Peoria, AZ 85383-1377
      View Details

    Similar Nearby for Sale

    • $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
    • New
      $379,900
      Pending

      Peoria Land with Mountain Views

      Land in Peoria, AZ, with magnificent 360-degree mountain views.
      28286 N 89Th Dr, Peoria, AZ 85383
      View Details
    • $299,000
      0.47 Acres

      Land with Golf Course Views

      Residential lot with golf course and city views.
      39623 N Whispering Rdg Way, Peoria, AZ 85383
      View Details
    • $180,000
      1.12 Acres

      Peoria, AZ Land For Sale

      1.12 acre lot ready for your dream home.
      15648 W Montgomery Rd, Peoria, AZ 85383
      View Details
    • $999,900
      5.00 Acres

      Peoria Land Bordering Vistancia Haciendas

      5-acre land parcel bordering Vistancia Haciendas development in Peoria, Arizona.
      139XX W Blackstone Ln, Peoria, AZ 85383
      View Details
    • $125,000
      2,501 SF

      Peoria Healthcare Business Opportunity

      Active healthcare license for sale in Peoria, Arizona.
      8000 W Assisted Living Dr, Peoria, AZ 85383
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Retail Space in Peoria, Arizona

      Retail spaces available in high-traffic community center.
      10270 N 67Th Ave, Peoria, AZ 85383
      View Details
    • 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
      110,467 SF

      Peoria Retail Center - 83rd & Happy Valley

      High-traffic Peoria retail space, multiple suites available.
      83rd Ave & Happy Vly Rd, Peoria, AZ 85383
      View Details
    • Contact for pricing
      8,069 SF

      Retail Space in Growing Community

      Retail space in Peoria's Vistancia, a master-planned community.
      28620 N El Mirage Rd, 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
      25,000 SF

      Lake Pleasant Parkway Land Available

      Up to 25,000 SF buildable land at Lake Pleasant Pavilion.
      24890 N Lake Pleasant Pkwy, 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.
    40202 87th Ave
    Peoria, AZ 85383-9744
    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.
    Sign Up Successful!
    You now have access to more from Realmo!