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

    600 Hanna Rd Eloy, AZ 85131

    • Commercial real estate
    • 80.25 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1567841
    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

    • Commercial real estate

    Property Details for 600 Hanna Rd

    Lot size
    80.25 lot acres
    Property type
    Commercial real estate
    APN
    401-48-012-S

    Description

    This exceptional 80.25-acre parcel, located at 600 E Hanna Rd in Eloy, Arizona (Pinal County, zip code 85131), presents a significant investment opportunity. The property is zoned R1-6 and offers considerable potential for various commercial developments. With a total asking price of $1,480,000, the land boasts a price per acre of $18,442.37. The property's location at 32.8249629 latitude and -111.546553 longitude provides convenient access to key transportation routes and infrastructure. Existing utilities include power. The property's size allows for the construction of a large-scale commercial project or subdivision into smaller lots for individual sale. The APN is 401-48-012-S. Additional acreage may be available upon request. This is an ideal opportunity for developers or investors seeking a substantial land holding in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Eloy
    County
    Pinal
    State
    Arizona
    Longitude
    -111.546553
    Latitude
    32.8249629

    Comparable in this City

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    • $65,000
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      Buildable land near paved road, close to I-10 and I-8.
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      0.27 Acres

      Land in Growing Eloy

      Land available in Eloy, Arizona, ideal for investment.
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    • $3,599,500

      Farmland Near Proposed Freeway

      Excellent farmland investment opportunity near future development.
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      Land For Sale in Eloy

      Land available south of Milligan Road and Sunshine Boulevard.
      2002 S Sunshine Blvd, Eloy, AZ 85131
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    Similar Nearby for Sale

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      0.36 Acres

      Land Parcel in Eloy, Arizona

      Flat 0.36 acre parcel in Eloy, Arizona for sale.
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    • $1,200,000
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      Eloy, AZ: 40-Acre Residential Land

      Prime 40.5-acre residential lot with stunning mountain views.
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      26.29 Acres

      Eloy Commercial Land - 26 Acres

      Prime Eloy location, 26 acres, highway access.
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      1.29 Acres

      Undeveloped Land in Rural Desert

      1.29 acre plot in Eloy, Arizona with utility access.
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      1.29 Acres

      Undeveloped Land in Rural Desert

      1.29 acre plot in Eloy, Arizona with utilities access.
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      0.33 Acres

      Vacant Land in Growing Eloy

      Large vacant lot near I-10, ideal for future development.
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    Similar Nearby for Lease

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      1,145,192 SF

      Prime Commercial Land, Pinal County

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      2,380 SF

      Retail/Office Space in Eloy, AZ

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      Eloy Convenience Store - AZ

      Prime Retail Location, High Traffic Area
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      Industrial Space with Storage Yard

      22,450 SF industrial space with a 2.30-acre storage yard.
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      5,000 SF

      Prime Retail Space, Phoenix

      Fry's-anchored center; high-traffic location.
      8325 Indian School Rd, Eloy, AZ 85131
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    600 Hanna Rd
    Eloy, AZ 85131
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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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