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

    501 E Plaza Cir Litchfield Park, AZ 85340

    • Office buildings
    • 10,498 SF
    • 1.39 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1988426
    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

    • Tammi / Hospital
    • Feelings R Fine- Laura A. Schulz / Counselor
    • David M. Phelan, M.C., L.P.C. / Psychotherapist
    • Farmers Insurance - Ricardo Otero / Home Insurance Agency / Life Insurance Agency
    • EXIT Realty-Realty Place / Real Estate Agency / Property Management Company

    Property Details for 501 E Plaza Cir

    Year built
    1978
    Construction
    STEEL FRAME
    Lot size
    1.39 lot acres
    Property size
    10,498 SF
    Zone code
    PAD
    Property type
    Office buildings
    APN
    501-71-986
    APU
    50171986

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,672,000
      Market price range: $1.11M - $4.39M
      AI Estimate
      $1,649,000
      Market price range: $1.04M - $4.34M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,510,000
      Current use
      MEDICAL BUILDING
      $2,675,000
      Change: +6% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,410,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Litchfield Park
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.35
    Latitude
    33.4873
    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
    $11,009
    $0.00
    $0.00
    $152,821
    -
    $552,100
    $374,086
    $926,186

    Comparable in this City

    • Value Estimation
      $1,150,000
      4,140 SF

      553 Plz Cir

      OFFICE BUILDING • 4,140 SF
      553 Plz Cir, Litchfield Park, AZ 85340-4930
      View Details
    • Value Estimation
      $1,130,000
      4,104 SF

      555 Plz Cir

      OFFICE BUILDING • 4,104 SF
      555 Plz Cir, Litchfield Park, AZ 85340-4908
      View Details
    • Value Estimation by Request
      500 SF

      4762 189th Ave

      OFFICE BUILDING • 500 SF
      4762 189th Ave, Litchfield Park, AZ 85340-9570
      View Details
    • Value Estimation
      $2,015,000
      4,848 SF

      5220 Dysart Rd Ste, Unit 144

      OFFICE BUILDING • 4,848 SF
      5220 Dysart Rd Ste, Litchfield Park, AZ 85340-3047
      View Details
    • Value Estimation
      $1,720,000
      4,848 SF

      5220 Dysart Rd Ste, Unit 150

      OFFICE BUILDING • 4,848 SF
      5220 Dysart Rd Ste, Litchfield Park, AZ 85340-3048
      View Details
    • Value Estimation
      $1,575,000
      3,790 SF

      5220 Dysart Rd, Unit 162

      OFFICE BUILDING • 3,790 SF
      5220 Dysart Rd, Litchfield Park, AZ 85340-3045
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.00 Acre

      Monument Point Business Park Lots

      Litchfield Park Industrial Land, 1-4 Acres
      12337 Camelback Rd, Litchfield Park, AZ 85340
      View Details
    • $1,400,000
      2,250 SF

      Litchfield Park Industrial Live/Work Space

      Industrial space with live/work opportunity near 303 freeway.
      7004 N Alsup Rd, Litchfield Park, AZ 85340
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      2.39 AC Industrial Land Available

      2.39 AC industrial land near freeways and Luke Airforce Base.
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    • $3,300,000
      Pending

      Prime 303 Corridor Land Opportunity

      14.4 acres near State Route 303, Litchfield Park, AZ
      16024 W Glendale Ave, Litchfield Park, AZ 85340
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      Litchfield Park Commercial Land Opportunity

      7.4 Acres C-2 Zoned Land, High Traffic
      12280 Indian School Rd, Litchfield Park, AZ 85340
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    • $469,000
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      Litchfield Park Land Opportunity

      Prime land in growing Litchfield Park, Arizona.
      123xx W Estero Ct, Litchfield Park, AZ 85340
      View Details

    Similar Nearby for Lease

    • $500 /Mo
      1,230 SF

      Executive Office Sublease in Litchfield

      Individual executive offices available for sublease in Litchfield Park.
      503 E Plaza Cir, Litchfield Park, AZ 85340
      View Details
    • Contact for pricing
      3,134 SF

      Furnished Medical Office Space Available

      Turn-key medical office space for rent on select days.
      13575 W Indian School Rd, Litchfield Park, AZ 85340
      View Details
    • Contact for pricing
      3,548 SF

      Retail Space Near Litchfield Park

      Retail space in a lively area near Litchfield Park.
      4860 N Litchfield Rd, Litchfield Park, AZ 85340
      View Details
    • Contact for pricing
      2,614 SF

      Litchfield Park Office Space Available

      Office suites available in Litchfield Park, Arizona.
      4840 N Litchfield Rd, Litchfield Park, AZ 85340
      View Details
    • Contact for pricing
      3,600 SF

      Litchfield Park Retail Space For Lease

      Prime Retail Space, 3600 sq ft, Vacant
      0 Litchfield Rd & Camelback Rd, Litchfield Park, AZ 85340
      View Details
    • Contact for pricing
      165,295 SF

      Litchfield Park Warehouse Space

      Divisible warehouse space with high ceilings and ample parking.
      6256 N Litchfield Rd, Litchfield Park, AZ 85340
      View Details
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    Litchfield Park, AZ 85340
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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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