Four-Story Live-Work
For Sale
$1,000,000
16580 North 92nd Street Unit 1003, Scottsdale, AZ 85260
Ground-level office space with a roll-up door is paired with residential rooms and shared living areas above.
Property Size3,094 SF
Price / SF$323.21
Days on Market564
Property Features for 16580 North 92nd Street Unit 1003
General Information
Standard status
Active
Size
3,094 SF
Total Parking Spaces
2
Elevators
Yes
Zoning
PCP
Additional Details
Office Units
1
Amenities
roll-up garage door
custom-designed closets
high-end finishes
rooftop patio
great room
mountain views
Building Details
Buildings
1
Stories
4
Listing Agency:
eXp Commercial
(602) 799-2135
Listed By:
Brett Skotnick · License #SA695220000
(602) 799-2135
Source:
Expcommercial
Added: Feb 13, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:58PM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This four-story live-work property combines a ground-floor office with residential space on the upper levels. The building measures 3,094 square feet and includes 408 square feet of outdoor living space. The office has PCP zoning and a roll-up garage door, while the second floor contains a kitchen and living area. Three en suite bedrooms occupy the third and fourth floors, and a private elevator connects the building’s levels. A top-floor great room opens to a rooftop patio with McDowell Mountain views. The property also includes a private two-car garage.
Located in Scottsdale, Arizona, the unit is positioned near the city’s business and entertainment districts. Its integrated office and residential layout provides a distinct work area with living accommodations directly above, along with outdoor space and rooftop access.
Located in Scottsdale, Arizona, the unit is positioned near the city’s business and entertainment districts. Its integrated office and residential layout provides a distinct work area with living accommodations directly above, along with outdoor space and rooftop access.
Key Highlights
- 3,094‑square‑foot four‑story live‑work unit
- 408 square feet of outdoor living space
- Ground‑floor office with PCP zoning and roll‑up garage door
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
$48,983
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
4.90%
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%
$979,660
$979.7K
Cap Rate 7%
$699,757
$699.8K
Cap Rate 9%
$544,256
$544.3K
Market Conditions
NOI Build-Up for 3,094 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
$79.5K $25.68/SF
− Vacancy
−$14.1K −$4.57/SF
EGI
$65.3K $21.11/SF
− OpEx
−$16.3K −$5.28/SF
NOI
$49.0K $15.83/SF
Area
Scottsdale, AZ
Vacancy
17.80%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
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%
$979,660
Cap Rate 7%
$699,757
Cap Rate 9%
$544,256
Alternative Uses
Best Use
Office B
$699.8K
$612.3K – $816.4K
NOI $48,983 @ 7.0% cap · market cap 4.90%
Second Best
Mixed Use
$623.2K
$545.3K – $727.1K
NOI $43,625 @ 7.0% cap · market cap 4.36%
Theoretical Best
Retail
$1.02M
$888.7K – $1.18M
NOI $71,097 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,581
Businesses Nearby
Explore this area
Business Placement
Demographics for 85260, AZ
37,967
Population
21,072
Households
1.8
Avg Household Size
47
Median Age
59%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,674
Density / Sq Mi
$103,854
Median Household Income
$62,835
Median Earnings
$1,969
Median Rent
$637,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Ground-level office space with a roll-up door is paired with residential rooms and shared living areas above.
Where is this live-work space located?
The property is located at 16580 North 92nd Street Unit 1003 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,094‑square‑foot four‑story live‑work unit; 408 square feet of outdoor living space; Ground‑floor office with PCP zoning and roll‑up garage door
