Three-Tenant
New
For Sale
$5,800,000
4142 N Marshall Way, Scottsdale, AZ 85251
Three retail businesses occupy the building, and upcoming lease expirations allow for future occupancy changes.
Property Size8,907 SF
Price / SF$651.17
Days on Market3
Property Features for 4142 N Marshall Way
General Information
Standard status
Active
Size
8,907 SF
Property subtype
Retail
Occupancy
100%
Amenities
Prominent Building Signage
Building Details
Building Size
8,907 SF
Year Built
1964
Tenancy
Multi
Listing Agency:
LevRose Commercial Real Estate
Listed By:
Zak Kottler · License #SA584801000
(480) 272-1493
Source:
Tcnworldwide
Added: Sep 24
Last Checked: Sep 24 at 2:22PM
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 LevRose Commercial Real Estate
Investment Insights
Based on property information with market context.
This 8,907-square-foot retail building was constructed in 1964 and is fully leased to three businesses: Wilde Meyer Gallery, Kit Salon, and Carlson Creek Winery. The tenant mix includes gallery, salon, and winery uses. Building signage faces Marshall Way.
The property is on Marshall Way in Scottsdale’s Arts District, within Old Town Scottsdale. Current rents are below prevailing Old Town market rates, and the leases have a short weighted average term. Upcoming expirations provide flexibility for future owner occupancy or tenant changes.
The property is on Marshall Way in Scottsdale’s Arts District, within Old Town Scottsdale. Current rents are below prevailing Old Town market rates, and the leases have a short weighted average term. Upcoming expirations provide flexibility for future owner occupancy or tenant changes.
Key Highlights
- 8,907‑square‑foot retail building constructed in 1964
- Fully leased to Wilde Meyer Gallery, Kit Salon, and Carlson Creek Winery
- Three tenants and a short weighted average lease term
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
$204,674
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
3.53%
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%
$4,093,480
$4.1M
Cap Rate 7%
$2,923,914
$2.9M
Cap Rate 9%
$2,274,156
$2.3M
Market Conditions
NOI Build-Up for 8,907 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
$299.3K $33.60/SF
− Vacancy
−$6.9K −$0.77/SF
EGI
$292.4K $32.83/SF
− OpEx
−$87.7K −$9.85/SF
NOI
$204.7K $22.98/SF
Area
Scottsdale, AZ
Vacancy
2.30%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
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%
$4,093,480
Cap Rate 7%
$2,923,914
Cap Rate 9%
$2,274,156
Alternative Uses
Best Use
Retail
$2.92M
$2.56M – $3.41M
NOI $204,674 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,520
Businesses Nearby
316k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 46%
Dining 37%
Hotels & Casinos 8%
Shops & Services 6%
Nordstrom
Apparel
125,026 visits/mo
0.4 miles
Grimaldi's Pizzeria
Dining
22,226 visits/mo
0.3 miles
Neiman Marcus
Apparel
21,592 visits/mo
0.5 miles
Gilligan's
Dining
17,598 visits/mo
0.3 miles
Jeni's Splendid Ice Creams
Dining
12,168 visits/mo
0.1 miles
Demographics for 85251, AZ
40,073
Population
26,456
Households
1.5
Avg Household Size
39
Median Age
60%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
5,566
Density / Sq Mi
$89,151
Median Household Income
$60,282
Median Earnings
$1,771
Median Rent
$500,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Three retail businesses occupy the building, and upcoming lease expirations allow for future occupancy changes.
Where is this storefront property located?
The property is located at 4142 N Marshall Way Scottsdale, AZ.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 8,907‑square‑foot retail building constructed in 1964; Fully leased to Wilde Meyer Gallery, Kit Salon, and Carlson Creek Winery; Three tenants and a short weighted average lease term
