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

    4920 Thunderbird Rd Glendale, AZ 85306

    • Strip malls
    • 44,883 SF
    • 2.17 lot acres
    For Lease
    View listing
    Last Sale
    May 28, 2024
    $2,739,760
    Value Estimations
    $2,740,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0881862
    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

    • Yunjae Park / Chiropractor
    • Total Control SlotCar Racing / Car Racing Track / Hobby Store
    • City Cuts / Barber Shop
    • LifeStyle Nails and Spa / Nail Salon
    • Bonitas / Mexican Restaurant / Breakfast Restaurant

    Property Details for 4920 Thunderbird Rd

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    2.17 lot acres
    Property size
    44,883 SF
    Zone code
    C-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    207-33-188
    APU
    20733188

    Description

    This exceptional retail property, Campus Village West, located at 4920 W Thunderbird Rd in Glendale, Arizona (zip code 85306), presents a unique investment opportunity. The property is classified as a Neighborhood Center and offers multiple tenancy options. A total of 8,225 square feet of vacant space is currently available, divisible into units ranging from a minimum of 1,200 square feet to a maximum contiguous space of 4,816 square feet. This flexibility allows for a variety of retail concepts, from smaller boutiques to larger-scale operations. The property's location in Maricopa County provides excellent access to a thriving consumer base. The precise total building square footage is not specified, but the substantial available space indicates a significant overall size. This prime Glendale location offers high visibility and convenient access for customers, making it an ideal space for businesses seeking to establish or expand their presence in a dynamic market. The property's address is easily accessible and well-suited for various retail businesses. Serious inquiries are encouraged to explore this promising retail investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,740,000
      ML approach
      $2,740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.165
    Latitude
    33.6111
    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
    $76,302
    $0.00
    $0.00
    $890,291
    -
    $739,100
    $4,656,600
    $5,395,700

    Comparable in this City

    • Value Estimation by Request
      23,024 SF

      5390 Greenway Rd

      SHOPPING CENTER, STRIP CENTER • 23,024 SF
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    • Value Estimation by Request
      32,480 SF

      5111 Thunderbird Rd

      SHOPPING CENTER, STRIP CENTER • 32,480 SF
      5111 Thunderbird Rd, Glendale, AZ 85306
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    • Value Estimation
      $7,420,000
      24,806 SF

      Glendale, AZ 85306

      SHOPPING CENTER, STRIP CENTER • 24,806 SF
      Glendale, AZ 85306
      View Details
    • Value Estimation
      $295,000
      4,008 SF

      13820 51st Ave

      SHOPPING CENTER, STRIP CENTER • 4,008 SF
      13820 51st Ave, Glendale, AZ 85306-4885
      View Details
    • Value Estimation by Request
      11,740 SF

      13824 51st Ave

      SHOPPING CENTER, STRIP CENTER • 11,740 SF
      13824 51st Ave, Glendale, AZ 85306-4845
      View Details
    • Value Estimation
      $1,650,000
      7,080 SF

      15400 59th Ave

      SHOPPING CENTER, STRIP CENTER • 7,080 SF
      15400 59th Ave, Glendale, AZ 85306
      View Details

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    Similar Nearby for Lease

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      Glendale Retail Center Opportunity

      Prime Glendale retail space available.
      4920 Thunderbird Rd, Glendale, AZ 85306
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      Retail Space Near ASU West

      Retail space for lease across from ASU West Campus.
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      Retail Space in Glendale, Arizona

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      Renovated Retail and Office Center

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      Retail Space in Glendale, Arizona

      Retail spaces available in well-established neighborhood center near universities.
      5844 W Greenway Rd, Glendale, AZ 85306
      View Details
    • $40 SF/Yr
      4,028 SF

      Freestanding Restaurant with Drive-Thru

      Prime corner location near Banner Thunderbird and ASU West Campus.
      5105 W Thunderbird Rd, Glendale, AZ 85306
      View Details
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    Glendale, AZ 85306
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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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