Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    704 Butler Dr Phoenix, AZ 85020-3449

    • Day care centers
    • 2,550 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Sep 08, 2022
    $725,000
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2258035
    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

    • Active Learning Center 6 / Daycare Center

    Property Details for 704 Butler Dr

    Year built
    1969
    Construction
    CONCRETE
    Lot size
    0.27 lot acres
    Property size
    2,550 SF
    Zone code
    C-C
    Property type
    Day care centers
    APN
    160-04-060E
    APU
    16004060E

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $445,000
      Market price range: $392k - $1.04M

    • Alternative Use

      Use
      Estimation
      COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
      $735,000
      Current use
      AUTO REPAIR, GARAGE
      $1,080,000
      Change: +47% Conversion: Difficult
      RETAIL STORES
      $760,000
      Change: +4% Conversion: Difficult
      MEDICAL BUILDING
      $675,000
      Change: -8% Conversion: Difficult
      WAREHOUSE, STORAGE
      $660,000
      Change: -10% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $650,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.065
    Latitude
    33.5608
    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
    $3,229
    $0.00
    $0.00
    $40,461
    -
    $148,400
    $256,207
    $404,607

    Comparable in this City

    • Value Estimation
      $820,000
      2,030 SF

      12031 Cave Crk Rd

      DAY CARE, PRE-SCHOOL • 2,030 SF
      12031 Cave Crk Rd, Phoenix, AZ 85020-1313
      View Details
    • Value Estimation
      $8,475,000
      21,000 SF

      1234 Northern Ave

      DAY CARE, PRE-SCHOOL • 21,000 SF
      1234 Northern Ave, Phoenix, AZ 85020-4274
      View Details
    • Value Estimation
      $3,765,000
      15,145 SF

      303 Eva St

      DAY CARE, PRE-SCHOOL • 15,145 SF
      303 Eva St, Phoenix, AZ 85020-2526
      View Details
    • Value Estimation by Request
      2,444 SF

      8818 12th St

      DAY CARE, PRE-SCHOOL • 2,444 SF
      8818 12th St, Phoenix, AZ 85020-3016
      View Details
    • Value Estimation
      $11,835,000
      3,600 SF

      9224 5th St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 3,600 SF
      9224 5th St, Phoenix, AZ 85020-2533
      View Details
    • Value Estimation
      $580,000
      2,080 SF

      7137 7th St

      VETERINARY, ANIMAL HOSPITAL • 2,080 SF
      7137 7th St, Phoenix, AZ 85020
      View Details

    Similar Nearby for Sale

    • $1,300,000
      0.47 Acres

      Ready-to-Build Lot with Skyline Views

      Prime investment opportunity in Phoenix Mountain Preserve Estates.
      8626 N 17Th Pl, Phoenix, AZ 85020
      View Details
    • $4,900,000

      Redevelopment Opportunity in Phoenix, AZ

      11,800 SF property suitable for redevelopment, renovation, or owner-user.
      9401-9415 N Central Ave, Phoenix, AZ 85020
      View Details
    • Contact for pricing
      2,772 SF

      Two-Story Office Condo For Rent

      Two-story office condo with high-end finishes and spacious offices.
      7220 N 16Th St, Phoenix, AZ 85020
      View Details
    • Contact for pricing

      Phoenix Restaurant/Retail Opportunity For Sale

      Restaurant/retail property in a high-traffic Phoenix location with billboard income.
      1212 East Northern Ave, Phoenix, AZ 85020
      View Details
    • $350,000
      0.14 Acres

      Vacant Lot in Ocotillo Hills

      Vacant lot with mountain views in Phoenix Mountain Preserve.
      8607 N 14Th St, Phoenix, AZ 85020
      View Details
    • $475,000
      0.94 Acres

      Phoenix View Lot For Sale

      Sunnyslope view lot with building pad and 270-degree views.
      8220 N 14Th St, Phoenix, AZ 85020
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      The Peak

      Discover many ways to work your way in The Peak
      7301 16Th St, Phoenix, AZ 85020
      View Details
    • Contact for pricing

      Phoenix Retail Space Available

      Retail spaces available, ranging from 1,920 to 4,560 SqFt.
      7000 N 16Th St, Phoenix, AZ 85020
      View Details
    • Contact for pricing

      Freestanding Retail with Double Drive-Thru

      Former CVS with double drive-thru at signalized intersection.
      10 E Dunlap Ave, Phoenix, AZ 85020
      View Details
    • Contact for pricing

      Medical Office Space in Phoenix

      Medical office space for lease near Honor Health hospital.
      9100 N 2Nd St, Phoenix, AZ 85020
      View Details
    • $24 SF/Yr
      8,462 SF

      Contemporary Office Space with Views

      Modern office building with exposed ceilings and mountain views.
      1555 E Orangewood Ave, Phoenix, AZ 85020
      View Details
    • $14 SF/Yr
      965 SF

      Move-in Ready Office Suites

      Office suites for rent with Cave Creek frontage.
      10443 N Cave Creek Rd, Phoenix, AZ 85020
      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.
    704 Butler Dr
    Phoenix, AZ 85020-3449
    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.
    Sign Up Successful!
    You now have access to more from Realmo!