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

    16231 N Scottsdale Rd Scottsdale, AZ 85254

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime retail location in North Scottsdale's trade area.

    Type:Retail
    Property size:
    569,558 SF
    Added:
    Nov 25, 2025
    Days on Market:
    155
    Last Refresh:
    Apr 6 at 1:22 am

    Property Features for 16231 N Scottsdale Rd

    General Information

    Standard status
    Active
    Size
    569,558 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1999

    Properties For Sale

    at 16231 N Scottsdale Rd Contact us

    We can help!

    Listing Contact
    Ryan Desmond

    Listing agent Ryan Desmond

    Listing office

    Listing date Nov 25, 2025

    Source W-retail

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Ryan Desmond

    Overview

    Scottsdale Retail Space For Sale

    Located in the exclusive North Scottsdale retail trade area at Scottsdale Road and Frank Lloyd Wright, this property benefits from high visibility with nearly 120,000 cars per day at the intersection. The area boasts an average household income of over $170,000 within a 1-mile radius. The property presents a 2nd generation restaurant opportunity with a patio. Limited shop space is available. Over 2,200 multi-family units are either planned or under construction within walking distance. Regional attractions include Kierland Commons, Scottsdale Quarter, Scottsdale Airpark, and TPC Scottsdale. Furthermore, the approved $1B mixed-use "The Parque" project just south of the property will include approximately 1,236 dwelling units, a 223-room hotel, and a 150,000 SF office building, totaling more than 2 million square feet of planned development. The property is suitable for restaurants and retail businesses.
    Location Intelligence

    Current Use by Public Records

    Benefit Cosmetics BrowBar Hair Salon Ulta Beauty Hair Salon Hierholcer LLC Hardware & Home Improvement

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.922
    Latitude
    33.6337

    Nearby Similar for Sale

    • $880,000

      Scottsdale Multifamily Investment Opportunity

      Four-unit property in Scottsdale's Holiday Park area near Old Town.
      3313 N 66TH Street, Scottsdale, AZ 85251
      View Details
    • $880,000

      Scottsdale Multifamily Investment Opportunity

      Four-unit property in prime Scottsdale location near Old Town.
      6708 E EARLL Drive, Scottsdale, AZ 85251
      View Details
    • $880,000

      Scottsdale Multifamily Investment Opportunity

      Rare multifamily asset in Scottsdale's Holiday Park neighborhood.
      3325 N 66TH Street, Scottsdale, AZ 85251
      View Details
    • $850,000

      Scottsdale Duplex: Investor Opportunity

      Charming Scottsdale duplex with rental income potential.
      1652 N 87TH Street, Scottsdale, AZ 85257
      View Details
    • $739,500

      Remodeled Triplex Near Old Town

      Fully remodeled triplex near Old Town Scottsdale with future upgrades.
      6813 E AVALON Drive, Scottsdale, AZ 85251
      View Details
    • $1,100,000

      Scottsdale Multifamily Investment Opportunity

      Five-unit property in desirable Holiday Park area near Old Town.
      3319 N 66TH Street, Scottsdale, AZ 85251
      View Details
    • $3,105,000

      Scottsdale Multifamily Investment Opportunity

      15-unit multifamily asset in desirable Scottsdale location.
      3220 N 66TH Place, Scottsdale, AZ 85251
      View Details
    • $880,000

      Scottsdale Multifamily Investment Opportunity

      Multifamily asset in Scottsdale's Holiday Park neighborhood.
      3331 N 66TH Street, Scottsdale, AZ 85251
      View Details
    • $1,649,000

      Scottsdale Tri-plex Investment Opportunity

      Tri-plex near Old Town Scottsdale, ideal for short-term rentals.
      7858 E GLENROSA Avenue, Scottsdale, AZ 85251
      View Details
    • $923,000
      2,563 SF

      Scottsdale Office Condo For Sale

      2,563 SF office condo in desirable Scottsdale Airpark location.
      14201 N Hayden Rd #A4, Scottsdale, AZ 85260
      View Details
    • $625,000
      1,581 SF

      Move-in Ready Scottsdale Office Condo

      Well-maintained office condo in north Scottsdale with reserved parking.
      9927 E. Bell Rd. #130, Scottsdale, AZ 85260
      View Details
    • $1,750,000

      Restored Four-Plex Near Old Town

      Restored four-plex near Old Town Scottsdale with modern upgrades.
      6950 E EARLL Drive, Scottsdale, AZ 85251
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime retail location in North Scottsdale's trade area.
    Where is this restaurant located?
    The property is located at 16231 N Scottsdale Rd Scottsdale, AZ.
    What are key features of this property?
    This property features: Prime location at Scottsdale Rd & Frank Lloyd Wright in North Scottsdale's exclusive retail area.; High traffic intersection with nearly 120,000 cars per day.; **2nd Generation Restaurant Opportunity with Patio.**
    (602) 931-4489
    We can help!
    Listing Contact
    Ryan Desmond
    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!