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    506 E Western Ave Avondale, AZ 85323

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    506 E Western Ave Avondale, AZ 85323

    View on Map
    • Strip malls
    • 13,546 SF
    • 0.42 lot acres
    For Lease
    $3,450,000
    View Listing →
    Office Space Near City Services For Lease
    $3,450,000

    Office Space Near City Services

    Office space strategically located near public services in Avondale, AZ.

    506 E Western Ave, Avondale, AZ 85323
    View Listing
    Property ID
    US07-0410265
    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

    • Proverbs Group Home LLC / Nursing Home / Social Service Agency
    • Mi Panaderia / Bakery / Specialty Food Shop
    • Ben's Carpet & Tile Cleaning Services / General Contractor
    • Midway Staffing / Business Service Center / Employment Agency
    • Carnitas Michoacanas / Restaurant

    Property Details for 506 E Western Ave

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    0.42 lot acres
    Property size
    13,546 SF
    Zone code
    OTAB
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    500-20-117A
    APU
    50020117A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,624,000
      Market price range: $1.80M - $7.84M
      AI Estimate
      $3,272,000
      Market price range: $1.46M - $7.22M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,280,000
      Current use
      MEDICAL BUILDING
      $3,450,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Avondale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.344
    Latitude
    33.4356
    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
    $18,138
    $0.00
    $0.00
    $390,951
    -
    $172,400
    $2,197,000
    $2,369,400

    Comparable in this City

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      $7,965,000
      20,430 SF

      1465 Dysart Rd

      SHOPPING CENTER, STRIP CENTER • 20,430 SF
      1465 Dysart Rd, Avondale, AZ 85323-1242
      View Details
    • Value Estimation
      $1,455,000
      5,192 SF

      1430 Central Ave

      SHOPPING CENTER, STRIP CENTER • 5,192 SF
      1430 Central Ave, Avondale, AZ 85323-1305
      View Details
    • Value Estimation by Request
      6,796 SF

      401 Van Buren St

      SHOPPING CENTER, STRIP CENTER • 6,796 SF
      401 Van Buren St, Avondale, AZ 85323-1315
      View Details
    • Value Estimation by Request

      1050 Riley Dr

      SHOPPING CENTER, STRIP CENTER
      1050 Riley Dr, Avondale, AZ 85323-2002
      View Details
    • Value Estimation
      $5,600,000
      21,267 SF

      725 Central Ave

      SHOPPING CENTER, STRIP CENTER • 21,267 SF
      725 Central Ave, Avondale, AZ 85323-1658
      View Details
    • Value Estimation
      $10,530,000
      41,288 SF

      1452 Eliseo Felix Jr Way

      SHOPPING CENTER, STRIP CENTER • 41,288 SF
      1452 Eliseo Felix Jr Way, Avondale, AZ 85323-1203
      View Details

    Similar Nearby for Sale

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      Dominant Strip Center For Sale

      Strip center with shop space 100% leased in Avondale.
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      Retail Space in Avondale Center

      Retail space for rent in neighborhood center near I-10.
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      Avondale Land Parcel For Sale

      Land parcel in Avondale, Arizona, near I-10.
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    • $700,000
      3,700 SF

      Avondale Commercial Property on Western

      Commercial property in Avondale with excellent visibility and flexible zoning.
      703 E Western Ave, Avondale, AZ 85323
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      Avondale Land Parcel For Sale

      0.98-acre C-2 zoned land parcel in Avondale, Arizona.
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    Similar Nearby for Lease

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      10,033 SF

      Mixed-Use Site Near I-10

      43-acre mixed-use site near I-10 Freeway.
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      Retail Space Near Interstate 10

      Retail space in a flourishing Avondale industrial area.
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      Established Automotive Shop for Rent

      Fully built-out automotive shop with operational history available for rent.
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    • Contact for pricing

      Avondale Retail Space Available

      Retail space available in Avondale, Arizona.
      725 N Central Ave, Avondale, AZ 85323
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      Retail Site Near Interstate 10

      Retail space in a flourishing Avondale industrial area.
      9920 W Van Buren St, Avondale, AZ 85323
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Established Neighborhood

      Retail space in Avondale, near high-income neighborhoods.
      1555 N Dysart Rd, Avondale, AZ 85323
      View Details
    View Listing
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    506 E Western Ave
    Avondale, AZ 85323
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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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