16991 Waddell RdSurprise, AZ 85379

Property Details for 16991 Waddell Rd

Year built

2008

Construction

CONCRETE

Lot size

18.26 AC

Property size (Sq ft)

45,944 SF

Zone code

PAD

Property type

Automotive properties

APN

501-40-949

APU

50140949

Description

This exceptional retail property, located at 16991 W Waddell Rd in Surprise, Arizona (zip code 85388), offers a prime commercial investment opportunity. The property encompasses 9.47 acres and features a total of 336,473 square feet of retail space, currently divided into three suites. There are 8,000 square feet of vacant space immediately available, divisible into units as small as 1,200 square feet, with a maximum contiguous space of 8,000 square feet. The property boasts ample parking with 310 spaces, providing a generous 8.5 spaces per 1,000 square feet. Its strategic location offers unparalleled access to high traffic volume, situated near the full-diamond interchange with the Loop 303 Freeway and a Walmart Supercenter. The area is experiencing significant residential growth, with over 3,000 single-family home permits issued in Surprise within the last five years, ensuring a robust and expanding customer base. Furthermore, its proximity to Arizona's largest auto complex, the 303 Autoshow (250 acres), provides additional exposure and foot traffic. This property presents a unique chance to capitalize on a thriving retail market in a rapidly developing area of Maricopa County.

• CAP approach

  CAP return

  Valuation

  6%

  $16,180,604

  6.5%

  $14,935,942

  7%

  $13,869,089

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,847,314

  Geo Method

  $17,847,314

• Alternative Use

  Use

  Valuation

  Residential

  $12,599,026

  Hospitality

  $11,540,640

  Educational

  $9,601,677

  Medical

  $9,931,893

  Retail

  $14,935,942

Location Insight

City

Surprise

County

Maricopa

State

Arizona

Latitude

33.6086

Longitude

-112.424

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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