Residential Income Property with
For Sale
$330,000
5249 E SHEA Boulevard 112, Scottsdale, AZ 85254
Upper-floor condominium with a covered balcony, deeded storage room, and views toward an open desert green area.
Property Size1,147 SF
Days on Market28
Property Features for 5249 E SHEA Boulevard 112
General Information
Standard status
Active
Size
1,147 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,123
Amenities
private covered balcony
deeded storage room
Building Details
Building Size
1,147 SF
Year Built
1997
Listing Agency:
E & G Real Estate Services
Listed By:
Sasha Ellis
(602) 509-0999
Source:
Alexiabertsatos
Added: Aug 15
Changed: Sep 4
Last Checked: Sep 10 at 6:54AM
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 E & G Real Estate Services
Investment Insights
Based on property information with market context.
This upper-floor condominium at 5249 E SHEA Boulevard 212 includes two bedrooms and two baths, along with a private covered balcony oriented toward an open desert green area. The residence also includes a deeded storage room on the ground floor, providing dedicated storage separate from the living space.
Built in 1997, the condominium is described as being in very good condition and move-in ready. The property is located in Scottsdale, Arizona, within ZIP code 85254.
Built in 1997, the condominium is described as being in very good condition and move-in ready. The property is located in Scottsdale, Arizona, within ZIP code 85254.
Key Highlights
- Two‑bedroom, two‑bath upper‑floor condominium
- Private covered balcony facing an open desert green area
- Deeded storage room on the ground floor
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
$13,272
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
4.02%
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%
$265,440
$265.4K
Cap Rate 7%
$189,600
$189.6K
Cap Rate 9%
$147,467
$147.5K
Market Conditions
NOI Build-Up for 1,147 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
$25.2K $21.96/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$24.1K $21.04/SF
− OpEx
−$10.9K −$9.47/SF
NOI
$13.3K $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%
$265,440
Cap Rate 7%
$189,600
Cap Rate 9%
$147,467
Alternative Uses
Best Use
Apartment 5plus
$189.6K
$165.9K – $221.2K
NOI $13,272 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$376.5K
$329.5K – $439.3K
NOI $26,357 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
924
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-floor condominium with a covered balcony, deeded storage room, and views toward an open desert green area.
Where is this residential income property located?
The property is located at 5249 E SHEA Boulevard 112 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath upper‑floor condominium; Private covered balcony facing an open desert green area; Deeded storage room on the ground floor
