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    Scottsdale Multifamily Conversion Opportunity Title is generated by Realmo AI

    9880 N Scottsdale Rd, Scottsdale, AZ 85253

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    Prime Scottsdale location with conversion options and strong growth potential.

    Type:Multifamily
    Added:
    Apr 3, 2026
    Days on Market:
    67
    Last Refresh:
    Apr 3 at 5:24 am

    Property Features for 9880 N Scottsdale Rd

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Hamid Panahi

    Listing agent Hamid Panahi License #AZ: SA550601000

    Listing office Tucson Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Tucson Office

    HighLights

    • Prime location on Scottsdale Road in Paradise Valley, offering immediate access to major highways, shopping, dining, and entertainment.
    • Approved plans and permits in place for conversion to an 85‑unit multifamily community with a mix of one-, two-, and three‑bedroom units, reducing redevelopment risk.
    • Flexible options for new ownership: continue as extended‑stay, reposition as a hotel, or convert to multifamily.
    • Community amenities including a swimming pool, fitness center, laundry facility, and basketball court.
    • Units feature fully equipped kitchens with modern appliances.
    • Located in an area with limited developable land and favorable local government policy, promising above‑average rent growth.

    Overview

    Located along Scottsdale Road in Paradise Valley, Metro Scottsdale is a property built in 1996. It features 111 one-bedroom units and 3 two-bedroom units, averaging approximately 525 square feet. Each residence includes a fully equipped kitchen with a refrigerator, cooktop, microwave, and dishwasher, along with a defined dining area. Flooring options include wood-style vinyl plank or plush carpeting. Community amenities include a swimming pool, fitness center, laundry facility, and basketball court. The property is currently operated as an extended-stay community, offering flexible accommodation. There is an opportunity for new ownership to continue with this model, reposition the asset under a new hotel flag, or convert the property into an 85-unit multifamily community featuring a mix of one-, two-, and three-bedroom units. All architectural drawings, permits, zoning entitlements, and city approvals required for the conversion are fully in place. The location provides access to major highways, premier shopping destinations, restaurants, and entertainment venues, with connections to Old Town Scottsdale, north Scottsdale, and Phoenix employment corridors.
    Location Intelligence

    Current Use by Public Records

    Metro Scottsdale Apartments Hotel & Motel

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Building Supply Daycare Center Auto Repair Shop Nail Salon Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9268229
    Latitude
    33.5754345

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    FAQs

    What type of property is this?
    Apartment building - Prime Scottsdale location with conversion options and strong growth potential.
    Where is this apartment building located?
    The property is located at 9880 N Scottsdale Rd Scottsdale, AZ.
    What are key features of this property?
    This property features: Prime location on Scottsdale Road in Paradise Valley, offering immediate access to major highways, shopping, dining, and entertainment.; Approved plans and permits in place for conversion to an 85‑unit multifamily community with a mix of one-, two-, and three‑bedroom units, reducing redevelopment risk.; Flexible options for new ownership: continue as extended‑stay, reposition as a hotel, or convert to multifamily.
    (520) 719-6511
    We can help!
    Listing Contact
    Hamid Panahi
    Real Estate License ID: AZ: SA550601000
    Learn More
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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.

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