Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Western Ave Avondale, AZ 85323-2426

    • Commercial land
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2024
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1082731
    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 land

    Property Details for 702 Western Ave

    Year built
    1995
    Construction
    STEEL FRAME
    Lot size
    0.25 lot acres
    Zone code
    C-C
    Property type
    Commercial land
    APN
    500-20-146
    APU
    50020146

    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
    Avondale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.343
    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
    2022
    $223
    $0.00
    $0.00
    $19,710
    -
    $131,400
    $0.00
    $131,400

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      Avondale, AZ 85323

      VACANT COMMERCIAL LAND • 0.07 Acres
      Avondale, AZ 85323
      View Details
    • Value Estimation by Request
      0.16 Acres

      Avondale, AZ 85323

      VACANT COMMERCIAL LAND • 0.16 Acres
      Avondale, AZ 85323
      View Details
    • Value Estimation by Request
      12.21 Acres

      Avondale, AZ 85323

      VACANT COMMERCIAL LAND • 12.21 Acres
      Avondale, AZ 85323
      View Details
    • Value Estimation
      $1,500,000
      0.74 Acres

      12451 Buckeye Rd

      VACANT COMMERCIAL LAND • 0.74 Acres
      12451 Buckeye Rd, Avondale, AZ 85323
      View Details
    • Value Estimation
      $7,000,000
      9.53 Acres

      290 La Canada Blvd

      VACANT COMMERCIAL LAND • 9.53 Acres
      290 La Canada Blvd, Avondale, AZ 85323-1605
      View Details
    • Value Estimation
      $675,000
      0.91 Acres

      200 Van Buren St

      VACANT COMMERCIAL LAND • 0.91 Acres
      200 Van Buren St, Avondale, AZ 85323
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Avondale Commercial Land For Sale

      Commercial land in Avondale, Arizona, near I-10 freeway.
      2730 S 113Th Ave, Avondale, AZ 85323
      View Details
    • Contact for pricing

      Avondale Land Parcel For Sale

      0.98 acre commercial land parcel in Avondale opportunity zone.
      Swc Of Van Buren St & Eliseo C Felix Jr Way, Avondale, AZ 85323
      View Details
    • $50,000
      0.11 Acres

      Avondale Land Parcel For Sale

      Land parcel in a fast-growing area with excellent potential.
      448 E Main St, Avondale, AZ 85323
      View Details
    • $6,321,132

      Commercial Land Near Interstate-10

      Corner lot with commercial development potential near Roosevelt Park.
      10780 W Van Buren St, Avondale, AZ 85323
      View Details
    • $2,779,425
      2.55 Acres

      Avondale Land Ready for Development

      C-2 zoned land in Avondale's BLVD district, utilities on-site.
      11625 W Van Buren St, Avondale, AZ 85323
      View Details
    • Contact for pricing

      Avondale Commercial Land For Sale

      Commercial land in Avondale's Freeway Corridor Specific Plan.
      N 110Th Ave, Avondale, AZ 85323
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Improved Pad Site For Rent

      Fully improved pad site near Interstate 10 and Avondale.
      160 N Avondale Blvd, Avondale, AZ 85323
      View Details
    • Contact for pricing

      Avondale Commercial Land Lease Opportunity

      Commercial land available for ground lease in Avondale, Arizona.
      9985 West Van Buren St, Avondale, AZ 85323
      View Details
    • Contact for pricing

      Prime Corner Land for Lease

      1.1 acre corner lot with drive-thru potential.
      10701 W Buckeye Rd, Avondale, AZ 85323
      View Details
    • Contact for pricing
      99,280 SF

      Avondale Retail Center - Two Pads Available

      Prime Avondale location, large retail spaces.
      107th Ave & Van Buren St, Avondale, AZ 85323
      View Details
    • $24 SF/Yr
      3,939 SF

      Avondale Office Space For Rent

      High-end office space available near I-10 in Avondale, AZ.
      506 E Western Ave, Avondale, AZ 85323
      View Details
    • Contact for pricing
      10,033 SF

      Mixed-Use Site Near I-10

      43-acre mixed-use site near I-10 Freeway.
      N 107Th Ave, Avondale, AZ 85323
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    702 Western Ave
    Avondale, AZ 85323-2426
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.