Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    8940 Bell Rd Peoria, AZ 85382-4713

    Property Lookup

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

    8940 Bell Rd Peoria, AZ 85382-4713

    View on Map
    • Strip malls
    • 8,561 SF
    • 1.80 lot acres
    Off-Market
    Last Sale Jun 3, 2021
    $5,550,000
    Property ID
    US07-1072149
    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
    $4,755,000
    Show details
    Cap Rate Potential
    3.8%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • Wok Fire / Restaurant
    • All American Eyeglass Repair / (Bike/Boat/Book/etc) Store
    • Goodcents / Take-out & Catering / Catering Service
    • Domino's pizza / Take-out & Catering
    • Castile Roofing - Peoria / Roofing Company / General Contractor

    Property Details for 8940 Bell Rd

    Year built
    1997
    Construction
    CONCRETE
    Lot size
    1.80 lot acres
    Property size
    8,561 SF
    Zone code
    PAD
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    200-42-941
    APU
    20042941

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,237,000
      Market price range: $1.41M - $7.00M
      AI Estimate
      $3,826,000
      Market price range: $669k - $4.43M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,265,000
      Current use
      RETAIL STORES
      $5,960,000
      Change: +83% Conversion: Easy
      RESTAURANT
      $4,880,000
      Change: +50% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,655,000
      Change: +43% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,525,000
      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
    -112.251
    Latitude
    33.6396
    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
    $24,902
    $0.00
    $0.00
    $464,607
    -
    $2,020,500
    $795,300
    $2,815,800

    Comparable in this City

    • Value Estimation by Request
      0.19 Acres

      20713 83rd Ave

      SHOPPING CENTER, STRIP CENTER • 0.19 Acres
      20713 83rd Ave, Peoria, AZ 85382-7427
      View Details
    • Value Estimation
      $12,215,000
      18,289 SF

      7369 Bell Rd

      SHOPPING CENTER, STRIP CENTER • 18,289 SF
      7369 Bell Rd, Peoria, AZ 85382-4814
      View Details
    • Value Estimation
      $3,230,000
      7,550 SF

      16055 Arrowhead Fountains Ctr Dr

      SHOPPING CENTER, STRIP CENTER • 7,550 SF
      16055 Arrowhead Fountains Ctr Dr, Peoria, AZ 85382-4771
      View Details
    • Value Estimation
      $7,645,000
      14,347 SF

      20340 Lk Pleasant Rd Ste, Unit 108

      SHOPPING CENTER, STRIP CENTER • 14,347 SF
      20340 Lk Pleasant Rd Ste, Peoria, AZ 85382-9713
      View Details
    • Value Estimation
      $5,605,000
      16,476 SF

      20783 83rd Ave

      SHOPPING CENTER, STRIP CENTER • 16,476 SF
      20783 83rd Ave, Peoria, AZ 85382-7429
      View Details
    • Value Estimation
      $6,930,000
      15,425 SF

      16680 83rd Ave

      SHOPPING CENTER, STRIP CENTER • 15,425 SF
      16680 83rd Ave, Peoria, AZ 85382-5814
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space Near Arrowhead Center

      Retail property for sale near Arrowhead Towne Center.
      7759 W Bell Rd, Peoria, AZ 85382
      View Details
    • Contact for pricing

      Arrowhead Pad Opportunity Available Soon

      Pad opportunity in Arrowhead area with strong retailer mix.
      16046 N Arrowhead Fountains Ctr Dr, Peoria, AZ 85382
      View Details
    • Contact for pricing
      6,506 SF

      Retail Space Near Arrowhead Mall

      Retail property with high visibility near Arrowhead Towne Center.
      7873 W Bell Rd, Peoria, AZ 85382
      View Details
    • Contact for pricing
      11,638 SF

      Freestanding Restaurant Building Near Stadium

      Second generation restaurant building near Peoria Stadium and Sports Complex.
      8320 W Mariners Way, Peoria, AZ 85382
      View Details
    • Contact for pricing
      1,400 SF

      Turnkey Dessert Shop Near Arrowhead

      Ice cream and boba shop in prime West Valley location.
      16055 N Arrowhead Fountains Ctr Dr, Peoria, AZ 85382
      View Details
    • $1,495,000
      2,846 SF

      Peoria Specialty Property For Sale

      2,846 SF specialty property available in Peoria, Arizona.
      20506 N 80Th Ln, Peoria, AZ 85382
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,993 SF

      Retail Space in Peoria, Arizona

      Retail property for lease in established Northwest Valley trade area.
      9127 W Union Hills Dr, Peoria, AZ 85382
      View Details
    • Contact for pricing
      960 SF

      Retail Space in Peoria, Arizona

      Grocery-anchored retail space with high traffic and strong demographics.
      8940-8960 W Bell Rd, Peoria, AZ 85382
      View Details
    • Contact for pricing
      40,734 SF

      Peoria Retail Space For Rent

      Well-anchored shopping center in a busy Peoria location.
      8215-8235 W Bell Rd, Peoria, AZ 85382
      View Details
    • Contact for pricing

      Regional Retail Power Center

      422,938 SF retail center with strong co-tenancy.
      Arrowhead Xing, Peoria, AZ 85382
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space in Peoria, Arizona

      Retail property with high visibility near Arrowhead Towne Center.
      7545-7655 W Bell Rd, Peoria, AZ 85382
      View Details
    • Contact for pricing
      910 SF

      Retail Space in Peoria Center

      Retail space available in Peoria anchored shopping center.
      20783 N 83Rd Ave, Peoria, AZ 85382
      View Details

    Property Visit Statistics

    • Visits by month
      1.7k
    • Visitors by month
      2.1k
    • Avg Time on site
      34 min
    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.
    8940 Bell Rd
    Peoria, AZ 85382-4713
    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

    8940 Bell Rd, Peoria, AZ, 85382

    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!