Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    N 138th Street unit 3 Scottsdale, AZ 85262

    View on Map
    For Sale
    $1,200,000

    LAND - Scottsdale, AZ

    Lot size:
    8.47 Acres
    Added:
    Feb 25, 2026
    Days on Market:
    35
    Last Refresh:
    Apr 1 at 5:06 pm

    Property Features for N 138th Street unit 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RU-43
    Standard status
    Active
    APN
    219-39-136-T
    Lot size
    8.47 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    S 750F OF W 492F W2 SE4 SW4 SEC 31 EX S 375F TH/OF P/F 23-0071141
    TaxAnnualAmount
    2304

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Douglas Hoff

    Listing agent Douglas Hoff License #SA629970000

    Listing office My Home Group Real Estate 8360 E Raintree Dr #120, Scottsdale, AZ

    Listing date Feb 25, 2026

    MLS# 6995130

    Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Scottsdale Land with Mountain Views

    This 8.47-acre land parcel in Scottsdale, Arizona, offers potential for development. Zoned RU-43, the property allows for residential use. The site offers views of the McDowell Mountains and Tonto National Forest. It is located close to the McDowell Mountain Preserve area, with horse and hiking trails nearby. The property comprises two combined lots and backs onto the preserve. The land presents opportunities for various recreational activities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.781827
    Latitude
    33.728418

    Nearby Similar for Sale

    • $550,000

      Scottsdale Land with Mountain Views

      Flat homesite in Desert Mountain with design flexibility and views.
      10453 E CELESTIAL Drive unit: 373, Scottsdale, AZ 85262
      View Details
    • $850,000

      Scottsdale Duplex: Investor Opportunity

      Charming Scottsdale duplex with rental income potential.
      1652 N 87TH Street, Scottsdale, AZ 85257
      View Details
    • $395,000

      Scottsdale Land with Mountain Views

      Buildable 4.69 acre lot with no restrictions and mountain views.
      292XX N 164th Street, Scottsdale, AZ 85262
      View Details
    • $425,000

      Scottsdale Land with Mountain Views

      5 acres of land with R-43 zoning near Tonto Forest.
      31XXX N 166th Place, Scottsdale, AZ 85262
      View Details
    • $499,000

      Scottsdale Homesite with Valley Views

      12.4 acre homesite in North Scottsdale with expansive views.
      41678 N ROUNDUP Drive unit: 17B, Scottsdale, AZ 85262
      View Details
    • $995,000

      Scottsdale Homesite with Desert Views

      Elevated homesite in Desert Mountain with views and privacy.
      10148 E GROUNDCHERRY Lane unit: 84, Scottsdale, AZ 85262
      View Details
    • $1,000,000

      Scottsdale Land with Mountain Views

      Estate lot with privacy, wildlife, and fantastic views.
      12964 E DESERT Trail unit: 14, Scottsdale, AZ 85259
      View Details
    • $249,900

      Scottsdale Land with Mountain Views

      2.2-acre lot near Scottsdale McDowell Sonoran Preserve.
      32833 N 137th Street unit: 1, Scottsdale, AZ 85262
      View Details
    • $450,000

      Scottsdale Land with Mountain Views

      4.79 acres with unobstructed mountain views and lush vegetation.
      142XX E Tumbleweed Drive, Scottsdale, AZ 85262
      View Details
    • $745,000

      Remodeled Triplex Near Old Town

      Fully remodeled triplex near Old Town Scottsdale with income potential.
      6813 E AVALON Drive, Scottsdale, AZ 85251
      View Details
    • $500,000

      Scottsdale Land with Mountain Views

      Large lot with mountain views, horse setup potential.
      14206 E Barwick Court unit: 12, Scottsdale, AZ 85262
      View Details
    • $429,000

      Scottsdale View Lot Opportunity

      1.27-acre view lot backing to Tonto National Forest.
      36576 N BOULDER VIEW Drive unit: 46, Scottsdale, AZ 85262
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 8.47 acres in Scottsdale, Arizona, with mountain views.
    Where is this residential land & home lot located?
    The property is located at N 138th Street unit 3 Scottsdale, AZ.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: McDowell Mountain views; No HOA; Backs to the preserve
    (623) 238-0404
    We can help!
    Listing Contact
    Douglas Hoff
    Real Estate License ID: SA629970000
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!