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

    6501 Virginia Ave Phoenix, AZ 85035-1500

    • Individual retail properties
    • 16,106 SF
    • 93.94 lot acres
    OFF-MARKET
    Value Estimations
    $6,170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2035964
    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

    • Desert West Park Mini-Pitches / Sports Field & Court / Sports School
    • Desert West Community Center / Community Center
    • Phoenix Bike Polo / Gym & Fitness Center / Sports Field & Court
    • Phoenix Desert West Senior Center / Community Center
    • Desert West Sports Complex Softball field / Sports Field & Court

    Property Details for 6501 Virginia Ave

    Year built
    1990
    Construction
    CONCRETE
    Lot size
    93.94 lot acres
    Property size
    16,106 SF
    Zone code
    R1-6
    Property type
    Individual retail properties
    APN
    103-11-255
    APU
    10311255

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,172,000
      Market price range: $3.02M - $6.17M
      AI Estimate
      $6,172,000
      Market price range: $3.02M - $6.17M

    • Alternative Use

      Use
      Estimation
      GYM, HEALTH SPA
      $4,385,000
      Current use
      RESTAURANT
      $8,600,000
      Change: +96% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,805,000
      Change: +55% Conversion: Difficult
      OFFICE BUILDING
      $4,835,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $4,800,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $4,275,000
      Change: -3% Conversion: Difficult
      WAREHOUSE, STORAGE
      $4,180,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.198
    Latitude
    33.475
    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
    $4,118,639
    -
    $14,087,700
    $13,369,893
    $27,457,593

    Comparable in this City

    • Value Estimation
      $13,495,000
      35,220 SF

      7500 Encanto Blvd

      GYM, HEALTH SPA • 35,220 SF
      7500 Encanto Blvd, Phoenix, AZ 85035
      View Details
    • Value Estimation
      $1,980,000
      2,812 SF

      5920 Mcdowell Rd

      CANNABIS DISPENSARY • 2,812 SF
      5920 Mcdowell Rd, Phoenix, AZ 85035-4853
      View Details
    • Value Estimation
      $1,850,000
      7,000 SF

      5832 Mcdowell Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      5832 Mcdowell Rd, Phoenix, AZ 85035-4945
      View Details
    • Value Estimation
      $960,000
      2,400 SF

      5901 Mcdowell Rd

      CONVENIENCE STORE • 2,400 SF
      5901 Mcdowell Rd, Phoenix, AZ 85035-4840
      View Details
    • Value Estimation
      $1,315,000
      2,000 SF

      6653 Mcdowell Rd

      CONVENIENCE STORE • 2,000 SF
      6653 Mcdowell Rd, Phoenix, AZ 85035-4749
      View Details
    • Value Estimation
      $2,580,000
      15,048 SF

      1620 59th Ave

      DRUG STORE, PHARMACY • 15,048 SF
      1620 59th Ave, Phoenix, AZ 85035-4985
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,900 SF

      Retail/Office Project in Phoenix, AZ

      Retail/Office project with excellent access, visibility, and signage.
      2861 N 52Nd Ave, Phoenix, AZ 85035
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      Vacant Land Near High-Traffic Intersection

      Vacant land suitable for office, retail, or multifamily development.
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      168,312 SF

      Phoenix Warehouse with Secured Truck Court

      168,312 SF warehouse featuring secured truck court in Phoenix.
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      Phoenix Land Parcel For Sale

      Commercial land parcel in Phoenix, close to major routes.
      2524 N 83Rd Ave, Phoenix, AZ 85035
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    Similar Nearby for Lease

    • Contact for pricing
      34,977 SF

      Desert Sky Esplanade Retail Space

      High-traffic retail space, prime location.
      75th Ave & Mcdowell Rd, Phoenix, AZ 85035
      View Details
    • Contact for pricing
      4,500 SF

      Retail Space with High Visibility

      Retail space available near I-10 with high traffic volume.
      5106-5124 W Mcdowell Rd, Phoenix, AZ 85035
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    • Contact for pricing
      6,207 SF

      Phoenix Retail Space - 6207 SF

      Prime Phoenix retail space, single tenant, 6207 sq ft.
      2820 75Th Ave, Phoenix, AZ 85035
      View Details
    • Contact for pricing
      16,450 SF

      Retail Space Near Desert Sky

      Retail space anchored by Walmart and Lowe's near I-10.
      2020 N 75Th Ave, Phoenix, AZ 85035
      View Details
    • Contact for pricing
      1,680 SF

      Restaurant End Cap Space Available

      1,680 SF fully-equipped former restaurant space for lease.
      5131 W Mcdowell Rd, Phoenix, AZ 85035
      View Details
    • Contact for pricing
      3,648 SF

      Phoenix Acreage with Office Space

      4.5 acre site with office space for lease.
      2619 S 51St Ave, Phoenix, AZ 85035
      View Details
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    6501 Virginia Ave
    Phoenix, AZ 85035-1500
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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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