Ground-Level Residential Income
For Sale
$289,900
5335 E Shea Blvd #1094, Scottsdale, AZ 85254
One-bedroom condominium with updated flooring and access to resort-style community amenities.
Property Size743 SF
Price / SF$390.17
Days on Market29
Property Features for 5335 E Shea Blvd #1094
General Information
Standard status
Active
Size
743 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
pool
spa
fitness center
clubhouse
Building Details
Year Built
1993
Listing Agency:
RE/MAX Fine Properties
(928) 600-8708
Listed By:
The Crouch Group · License #2013009293
(623) 294-9492
Source:
Crouchgroupaz
Added: Aug 10
Changed: Sep 6
Last Checked: Sep 7 at 7:16AM
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 RE/MAX Fine Properties
Investment Insights
Based on property information with market context.
This ground-level condominium in the Belle Terra community offers one bedroom and one bathroom, along with updated plank tile flooring throughout the residence. Built in 1993, the property is supported by shared amenities that include a heated pool and spa, workout facility, clubhouse, and maintained gathering areas.
The home is located on E Shea Boulevard in Scottsdale, with access to the 51 and 101 freeways. Paradise Valley Mall, Desert Ridge Mall, restaurants, shopping, golf, and everyday conveniences are identified in the surrounding area.
The home is located on E Shea Boulevard in Scottsdale, with access to the 51 and 101 freeways. Paradise Valley Mall, Desert Ridge Mall, restaurants, shopping, golf, and everyday conveniences are identified in the surrounding area.
Key Highlights
- Ground‑level 1 BD | 1 BA condominium
- Updated plank tile flooring throughout
- Heated community pool and spa
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,597
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$171,940
$171.9K
Cap Rate 7%
$122,814
$122.8K
Cap Rate 9%
$95,522
$95.5K
Market Conditions
NOI Build-Up for 743 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.3K $21.96/SF
− Vacancy
−$685 −$0.92/SF
EGI
$15.6K $21.04/SF
− OpEx
−$7.0K −$9.47/SF
NOI
$8.6K $11.57/SF
Area
Scottsdale, AZ
Vacancy
4.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$171,940
Cap Rate 7%
$122,814
Cap Rate 9%
$95,522
Alternative Uses
Best Use
Apartment 5plus
$122.8K
$107.5K – $143.3K
NOI $8,597 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$243.9K
$213.4K – $284.6K
NOI $17,073 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 85254, AZ
46,352
Population
21,469
Households
2.2
Avg Household Size
45
Median Age
60%
College-Educated
97%
High-School Grad
13.7 sq mi
ZIP Area
3,383
Density / Sq Mi
$120,885
Median Household Income
$61,953
Median Earnings
$1,954
Median Rent
$701,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with updated flooring and access to resort-style community amenities.
Where is this residential income property located?
The property is located at 5335 E Shea Blvd #1094 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Ground‑level 1 BD | 1 BA condominium; Updated plank tile flooring throughout; Heated community pool and spa
