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

    8969 Grand Ave Peoria, AZ 85345-8107

    • Warehouses
    • 33,720 SF
    • 3.44 lot acres
    OFF-MARKET
    Last Sale
    Nov 29, 2022
    $14,090,000
    Value Estimations
    $10,650,000
    Show details
    Cap Rate Potential
    3.6%
    Warehouses
    Location Intelligence
    Property ID
    US07-1518139
    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

    • Creative House Fabrication / Metal Fabricator / Welder
    • JR's Automotive Repair / Auto Repair Shop
    • Public Storage / Self-Storage Facility / Automobile Storage Facility
    • Rail-Tek / Lighting Wholesaler

    Property Details for 8969 Grand Ave

    Year built
    1977
    Construction
    CONCRETE
    Lot size
    3.44 lot acres
    Property size
    33,720 SF
    Zone code
    C-R
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    142-45-939
    APU
    14245939

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,688,000
      Market price range: $3.58M - $12.1M
      AI Estimate
      $10,345,000
      Market price range: $3.31M - $11.6M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $6,900,000
      Current use
      AUTO REPAIR, GARAGE
      $13,885,000
      Change: +101% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $12,860,000
      Change: +86% Conversion: Moderate
      MEDICAL BUILDING
      $8,165,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.253
    Latitude
    33.5904
    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
    $29,429
    $0.00
    $0.00
    $1,064,960
    -
    $1,210,400
    $5,243,900
    $6,454,300

    Comparable in this City

    • Value Estimation
      $2,135,000
      6,090 SF

      10515 98th Ave

      MINI-WAREHOUSE, STORAGE • 6,090 SF
      10515 98th Ave, Peoria, AZ 85345-6101
      View Details
    • Value Estimation
      $9,955,000
      41,906 SF

      10461 99th Ave

      MINI-WAREHOUSE, STORAGE • 41,906 SF
      10461 99th Ave, Peoria, AZ 85345-5412
      View Details
    • Value Estimation
      $5,575,000
      15,900 SF

      7590 Olive Ave

      MINI-WAREHOUSE, STORAGE • 15,900 SF
      7590 Olive Ave, Peoria, AZ 85345-7148
      View Details
    • Value Estimation
      $2,770,000
      7,905 SF

      10515 98th Ave

      MINI-WAREHOUSE, STORAGE • 7,905 SF
      10515 98th Ave, Peoria, AZ 85345-6101
      View Details
    • Value Estimation by Request
      700 SF

      Peoria, AZ 85345

      MINI-WAREHOUSE, STORAGE • 700 SF
      Peoria, AZ 85345
      View Details
    • Value Estimation
      $13,910,000
      39,674 SF

      8580 91st Ave

      MINI-WAREHOUSE, STORAGE • 39,674 SF
      8580 91st Ave, Peoria, AZ 85345-8313
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      114,446 SF

      Industrial Warehouse Space Available

      114,446 SF industrial warehouse space for sale.
      9595 N 79Th Ave, Peoria, AZ 85345
      View Details
    • $1,650,000
      5,740 SF

      Industrial Property with Outside Storage

      Warehouse with outside storage and high visibility in Peoria.
      9117-9123 W Grand Ave, Peoria, AZ 85345
      View Details
    • $1,600,000
      8,110 SF

      Peoria Warehouse with Office Space

      8,110 SF stand-alone, fully air-conditioned warehouse with office space.
      7642 W Vogel Ave, Peoria, AZ 85345
      View Details
    • $799,000
      3,105 SF

      Flex Industrial Condo For Sale

      Flex industrial condo with freeway frontage, restrooms with showers.
      9299 W Olive Ave, Peoria, AZ 85345
      View Details
    • $2,500,000
      3,468 SF

      Industrial Building on Secured Site

      Industrial building on a fully fenced and secured 1.95-acre site.
      8789 N 75Th Ave, Peoria, AZ 85345
      View Details
    • $1,300,000

      Commercial Land For Sale

      0.54 acres of commercial land with C-3 zoning.
      722 Grand Ave, Peoria, AZ 85345
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Freestanding Metal Building in Peoria

      4,000 SF metal building with gated yard for rent.
      10738 N 96Th Ave, Peoria, AZ 85345
      View Details
    • $850,000
      3,105 SF

      Modern Flex/Industrial Space For Rent

      3,105 SF flex/industrial space with excellent visibility and accessibility.
      9299 W Olive Ave, Peoria, AZ 85345
      View Details
    • $16 SF/Yr
      3,105 SF

      Peoria Industrial Office For Lease

      Industrial office space available for lease near Loop 101.
      9299 W Olive Ave Bldg 2, Peoria, AZ 85345
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Peoria, Arizona

      Retail spaces available in a high-traffic community center.
      6811-6821 W Peoria Ave, Peoria, AZ 85345
      View Details
    • Contact for pricing

      Peoria Retail Pad, Prime Location

      One Acre Retail Pad, High-Growth Area
      83rd Ave & Olive Ave, Peoria, AZ 85345
      View Details
    • Contact for pricing
      10,867 SF

      Retail Space with Large Parking

      Retail space featuring a hard corner location and ample parking.
      7440 W Peoria Ave, Peoria, AZ 85345
      View Details
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    8969 Grand Ave
    Peoria, AZ 85345-8107
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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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