Ground-Level Residential Income
For Sale
$289,900
5335 E Shea Blvd #1094, Scottsdale, AZ 85254
One-bedroom, one-bath unit with updated appliances, in-unit laundry, and a private covered patio.
Property Size743 SF
Price / SF$390.17
Days on Market16
Property Features for 5335 E Shea Blvd #1094
General Information
Standard status
Active
Size
743 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
heated pool & spa
fitness center
clubhouse
in-unit washer/dryer
private covered patio
stainless steel kitchen appliances
Building Details
Year Built
1993
Listing Agency:
Exp Realty
(602) 460-5545
Listed By:
arrt of Real Estate / Amelia Goudeau
(602) 460-5545
Source:
Arrtofrealestate
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 26 at 12:30PM
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 Realty
Investment Insights
Based on property information with market context.
This 743-square-foot, ground-level condo offers a one-bedroom, one-bath layout with an open floor plan and 9-ft ceilings. The kitchen includes stainless steel appliances that are less than 1 yr old, while a full-size washer/dryer is located inside the unit. A private covered patio with a sun shade extends the living area. The property was built in 1993.
The condo is positioned within a quiet interior setting and does not face the parking lot. Community amenities include a heated pool and spa, fitness center, and clubhouse. The property is located near Paradise Valley Mall, Kierland, restaurants, shopping, and golf, with access to the 51 and 101 freeways.
The condo is positioned within a quiet interior setting and does not face the parking lot. Community amenities include a heated pool and spa, fitness center, and clubhouse. The property is located near Paradise Valley Mall, Kierland, restaurants, shopping, and golf, with access to the 51 and 101 freeways.
Key Highlights
- 743 SF ground‑level condo with a 1BD/1BA layout
- Open floor plan with 9‑ft ceilings
- Stainless steel kitchen appliances less than 1 yr old
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, one-bath unit with updated appliances, in-unit laundry, and a private covered patio.
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: 743 SF ground‑level condo with a 1BD/1BA layout; Open floor plan with 9‑ft ceilings; Stainless steel kitchen appliances less than 1 yr old
