Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8622 59th Ave Glendale, AZ 85302-4512
    Back to Search
    Property profile & analytics

    8622 59th Ave, Glendale, AZ 85302-4512

    View on Map
    • Specialty properties
    • 1,730 SF
    • 5.86 lot acres
    Off-Market
    Last Sale Jan 31, 2020
    Property ID
    US07-0071583
    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
    $5,525,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sereno Townhomes / Apartment Building / Property Management Company
    • Dion & Ashley / Apartment Building
    • Purrtyii Pressha Fashion / Clothing Store

    Property Details for 8622 59th Ave

    Year built
    2009
    Lot size
    5.86 lot acres
    Zone code
    R-4
    Property type
    Specialty properties
    APN
    143-46-133
    APU
    14346133

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 25, 2018 $16,500,000 Geiger Properties I LLC Village Sereno Townhomes LLC Grant Deed —
    Dec 22, 2015 $252,769 Vst 3 LLC Vst 9 LLC Grant Deed · related —
    Jul 20, 2005 $4,125,000 Native Sun Enterprises LLC Jw Sereno Properties LLC Warranty Deed · related $5M · Jgm Group LLC
    Jul 19, 2005 $3,100,000 Jw Sereno Properties LLC Village Sereno LLC Grant Deed · related —
    — — Native Sun Ents LLC — Deed Of Trust · related $5.6M · Jgm Group LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,742,000
      Market price range: $756k - $34.9M
      AI Estimate
      $5,307,000
      Market price range: $490k - $33.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.188
    Latitude
    33.5631
    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
    $50
    -
    $500
    $0.00
    $500

    Comparable in this City

    • Value Estimation
      $12,645,000
      3,960 SF

      8401 67th Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS
      8401 67th Ave, Glendale, AZ 85302-5506
      View Details
    • Value Estimation
      $17,650,000
      2,616 SF

      8450 59th Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS
      8450 59th Ave, Glendale, AZ 85302-5541
      View Details
    • Value Estimation
      $7,830,000
      2,451 SF

      8581 61st Ave

      CHARITABLE ORGANIZATION
      8581 61st Ave, Glendale, AZ 85302-5432
      View Details
    • Value Estimation by Request
      17,916 SF

      8561 61st Ave

      CHARITABLE ORGANIZATION
      8561 61st Ave, Glendale, AZ 85302-5409
      View Details
    • Value Estimation by Request
      30,308 SF

      5970 Brown St

      PROFESSIONAL CLUBS/ASSOCIATIONS
      5970 Brown St, Glendale, AZ 85302-1249
      View Details
    • Value Estimation
      $6,510,000
      2,038 SF

      8232 59th Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS
      8232 59th Ave, Glendale, AZ 85302-6802
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,000 SF

      Glendale Showroom/Office/Manufacturing Building

      8,000 SF building on 1.93 acres for sale.
      6940 NW Grand Ave, Glendale, AZ 85302
      View Details
    • Contact for pricing
      7,195 SF

      Glendale Retail Center For Sale

      Multi-tenant retail pad building in a high-traffic area.
      10240 N 43Rd Ave, Glendale, AZ 85302
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Lease

      Retail property available for lease in Glendale, Arizona.
      51st Ave & Olive Ave, Glendale, AZ 85302
      View Details
    • Contact for pricing

      High-Exposure Retail Center For Rent

      Retail center with frontage on 43rd Avenue, monument signage.
      9250 N 43Rd Ave, Glendale, AZ 85302
      View Details
    • Contact for pricing

      Restaurant Space with Drive-Thru

      Restaurant space with drive-thru potential in a high-traffic location.
      5110 W Northern Ave, Mesa, AZ 85302
      View Details
    • Contact for pricing
      58,067 SF

      Commercial Land for Ground Lease

      Pad site available in high-traffic Glendale location.
      53rd Ave & Olive Ave, Glendale, AZ 85302
      View Details
    • Contact for pricing
      958 SF

      Former Restaurant Space For Rent

      Restaurant/sandwich shop anchored by Target, great visibility, near I-17.
      4303 W Peoria Ave, Glendale, AZ 85302
      View Details
    • Contact for pricing
      2,842 SF

      Retail Space in High-Traffic Area

      Retail space in Glendale, Arizona with high traffic volume.
      5143 W Olive Ave, Glendale, AZ 85302
      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.
    8622 59th Ave
    Glendale, AZ 85302-4512
    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

    Thank You for Inquiry
    8622 59th Ave, Glendale, AZ, 85302
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!