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    8322 Olive Ave Peoria, AZ 85345-7114

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    8322 Olive Ave Peoria, AZ 85345-7114

    View on Map
    • Grocery and convenience stores
    • 2,191 SF
    • 0.92 lot acres
    Off-Market
    Last Sale Dec 10, 2020
    $730,000
    Property ID
    US07-1280515
    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
    $650,000
    Show details
    Cap Rate Potential
    5.7%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Valero / Gas Station
    • U-Haul Neighborhood Dealer / Car Rental Facility
    • ATM (Diamond Shamrock) / Atm
    • Bitbox Bitcoin ATM / Atm
    • Diamond Shamrock / Gas Station

    Property Details for 8322 Olive Ave

    Year built
    1998
    Construction
    CONCRETE
    Lot size
    0.92 lot acres
    Property size
    2,191 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    142-37-041J
    APU
    14237041J

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $610,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $580,000
      6.5%
      $535,000
      7%
      $500,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $835,000
      Current use
      AUTO REPAIR, GARAGE
      $900,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.238
    Latitude
    33.5669
    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
    $13,041
    $0.00
    $0.00
    $271,716
    -
    $1,118,300
    $528,462
    $1,646,762

    Comparable in this City

    • Value Estimation
      $1,205,000
      3,662 SF

      6735 Peoria Ave

      CONVENIENCE STORE • 3,662 SF
      6735 Peoria Ave, Peoria, AZ 85345-6039
      View Details
    • Value Estimation
      $29,830,000
      62,228 SF

      9043 Olive Ave

      GROCERY, SUPERMARKET • 62,228 SF
      9043 Olive Ave, Peoria, AZ 85345-7049
      View Details
    • Value Estimation
      $3,855,000
      4,972 SF

      7455 Peoria Ave

      CONVENIENCE STORE • 4,972 SF
      7455 Peoria Ave, Peoria, AZ 85345-6035
      View Details
    • Value Estimation by Request
      1,825 SF

      8287 Washington St

      CONVENIENCE STORE • 1,825 SF
      8287 Washington St, Peoria, AZ 85345-6509
      View Details
    • Value Estimation
      $4,175,000
      5,060 SF

      8277 Olive Ave

      CONVENIENCE STORE • 5,060 SF
      8277 Olive Ave, Peoria, AZ 85345-7106
      View Details
    • Value Estimation
      $950,000
      2,781 SF

      9049 Peoria Ave

      CONVENIENCE STORE • 2,781 SF
      9049 Peoria Ave, Peoria, AZ 85345-6444
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Goodwill Store Investment Opportunity

      Retail property featuring a top-performing Goodwill store.
      8517 W Grand Ave, Peoria, AZ 85345
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    • $995,000
      0.57 Acres

      Corner Lot Near 101 Freeway

      Corner lot near 101 Freeway, ideal for retail.
      9134 W Peoria Ave, Peoria, AZ 85345
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    • $995,000
      24,939 SF

      Corner Lot Near Freeway

      Commercial land ideal for retail, food service, or healthcare.
      9134 West Peoria Ave, Peoria, AZ 85345
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      1,200 SF

      Auto Shop with Gated Yard

      Auto shop with gated yard, concrete pad, and canopy.
      10739 N 96Th Ave, Peoria, AZ 85345
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      Downtown Peoria Revitalization Opportunity

      Mixed-use property in Peoria's revitalizing downtown area.
      8286 W Jefferson St, Peoria, AZ 85345
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      1,507 SF

      Former Drive-Thru on Grand Avenue

      Investment or owner-user opportunity with Grand Avenue frontage.
      8495 Grand Ave, Peoria, AZ 85345
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    Similar Nearby for Lease

    • $12 SF/Yr
      23,942 SF

      Retail Spaces Available for Lease

      Retail spaces from 1,400 to 23,942 SF available for lease.
      10250-10310 N 91St Ave, Peoria, AZ 85345
      View Details
    • $12 SF/Yr
      1,400 SF

      Retail Spaces Available for Lease

      Retail spaces from 1,400 to 23,942 SF available for lease.
      9960-10050 N 91St Ave, Peoria, AZ 85345
      View Details
    • Contact for pricing
      24,000 SF

      Peoria Avenue Retail Pad

      Retail pad available for lease near new apartments.
      7565 W Peoria Ave, Peoria, AZ 85345
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Corner Lot

      Retail space available on a hard corner next to Home Depot.
      9151 W Peoria Ave, Peoria, AZ 85345
      View Details
    • Contact for pricing
      1,648 SF

      Retail Space in High-Density Area

      Retail space available in established, high-traffic Peoria neighborhood.
      7315 W Pamela Ln, Peoria, AZ 85345
      View Details
    • Contact for pricing
      44,845 SF

      Peoria Power Center Retail Space

      Prime retail spaces available in high-traffic Peoria location.
      10250 N 91St Ave, Peoria, AZ 85345
      View Details

    Property Visit Statistics

    • Visits by month
      3.0k
    • Visitors by month
      3.7k
    • Avg Time on site
      7 min
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    Peoria, AZ 85345-7114
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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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