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

    8977 Athens St Peoria, AZ 85382-8170

    • Assisted living facilities
    • 5,720 SF
    • 1.29 lot acres
    OFF-MARKET
    Last Sale
    Jun 16, 2023
    $1,250,000
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1092315
    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

    • Black Mountain Science Academy / Private Educational Institution / School

    Property Details for 8977 Athens St

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    1.29 lot acres
    Property size
    5,720 SF
    Zone code
    C-T
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    200-42-007T
    APU
    20042007T

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $835,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,319,000
      Market price range: $668k - $1.32M
      AI Estimate
      $1,319,000
      Market price range: $668k - $1.32M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $965,000
      Current use
      MEDICAL BUILDING
      $1,385,000
      Change: +43% Conversion: Difficult
      OFFICE BUILDING
      $1,180,000
      Change: +22% 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
    33.6449
    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
    $9,431
    $0.00
    $0.00
    $187,924
    -
    $778,600
    $1,100,640
    $1,879,240

    Comparable in this City

    • Value Estimation by Request
      24,784 SF

      9296 Un Hls Dr

      HOMES (RETIRED, NURSING) • 24,784 SF
      9296 Un Hls Dr, Peoria, AZ 85382-8215
      View Details
    • Value Estimation by Request
      3,498 SF

      8854 Irma Ln

      HOMES (RETIRED, NURSING) • 3,498 SF
      8854 Irma Ln, Peoria, AZ 85382-6423
      View Details
    • Value Estimation
      $600,000
      2,351 SF

      16124 87th Dr, Unit 2

      HOMES (RETIRED, NURSING) • 2,351 SF
      16124 87th Dr, Peoria, AZ 85382-3771
      View Details
    • Value Estimation
      $450,000
      2,694 SF

      15973 77th Ave

      HOMES (RETIRED, NURSING) • 2,694 SF
      15973 77th Ave, Peoria, AZ 85382-3867
      View Details
    • Value Estimation by Request
      2,498 SF

      9003 Charleston Ave

      HOMES (RETIRED, NURSING) • 2,498 SF
      9003 Charleston Ave, Peoria, AZ 85382-8106
      View Details
    • Value Estimation
      $7,550,000
      61,695 SF

      18172 91st Ave

      HOMES (RETIRED, NURSING) • 61,695 SF
      18172 91st Ave, Peoria, AZ 85382-3001
      View Details

    Similar Nearby for Sale

    • New
      $1,495,000
      2,846 SF

      Peoria Assisted Living Facility ForSale

      Turnkey assisted living home in a desirable Peoria neighborhood.
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    • $850,000
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      Land Near Peoria High School

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      Retail property with high visibility near Arrowhead Towne Center.
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      3.35 Acres in West Valley

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      Peoria Land Opportunity Available

      1.5-acre land site in Peoria's Arrowhead submarket.
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      80,000 SF

      Arrowhead Pad Opportunity Available Soon

      Pad opportunity in Arrowhead area with strong retailer mix.
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    Similar Nearby for Lease

    • $13 SF/Yr
      55,455 SF

      Prime West Bell Road Warehouse

      Sublease Opportunity: 12,710 SF Warehouse
      16681 84Th Ave, Peoria, AZ 85382
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      Land for Lease in Peoria

      Land available for lease at North Lake Pleasant Parkway.
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    • Contact for pricing
      1,100 SF

      Retail Space in Peoria, Arizona

      Retail property for lease in established Northwest Valley trade area.
      9127 W Union Hills Dr, Peoria, AZ 85382
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    • 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
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    • Contact for pricing
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      Retail Space Near Arrowhead Mall

      2,487 SF retail space in high-traffic Peoria area.
      8337 W Bell Rd, Peoria, AZ 85382
      View Details
    • $17 SF/Yr
      1,650 SF

      Executive Office Suites in Peoria

      Prime Arrowhead location, 1,000 sq ft available
      8805 Union Hills Dr, Peoria, AZ 85382
      View Details
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    8977 Athens St
    Peoria, AZ 85382-8170
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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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