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    5813 E Lewis Ave, Scottsdale, AZ 85257

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    Fully stabilized assisted living estate in Scottsdale's Arcadia corridor.

    Type:Senior Living, Special Purpose
    Property size:
    7,361 SF
    Price / SF:
    $502/SF
    Added:
    Feb 24, 2026
    Days on Market:
    76
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 5813 E Lewis Ave

    General Information

    Standard status
    Active
    Size
    7,361 SF
    Property subtype
    Senior Living, Special Purpose

    We can help!

    Listing Contact
    Jake Crawford

    Listing agent Jake Crawford License #SA646424000

    Listing office EXP Realty

    Listing date Feb 24, 2026

    Source Crexi

    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

    HighLights

    • Fully stabilized, luxury assisted living estate in the prestigious Arcadia Scottsdale corridor.
    • Prime location near Downtown Scottsdale, Arcadia Proper, the Biltmore District, and Downtown Phoenix, with convenient access to amenities and services.
    • 7,361 square feet with 11 private bedrooms and 10 bathrooms, renovated in 2019 with modern finishes and ADA compliance.
    • Strong NOI with significant proforma upside, ideal for owner/operators or investors.
    • Unique value‑add opportunity with RV hookups for live‑in staff or extended family stays.
    • Trophy‑class investment offering long‑term stability and recession resilience in Arizona’s thriving senior housing sector.

    Overview

    This is a 7,361 square foot assisted living estate located in the Arcadia Scottsdale corridor. The property features 11 private bedrooms and 10 bathrooms, designed with high-end hospitality aesthetics and clinical functionality. Renovated in 2019, the residence includes modern finishes, ADA-compliant layouts, and natural light. The property is located between Downtown Scottsdale, Arcadia Proper, the Biltmore District, and Downtown Phoenix, and is 10 minutes from Phoenix Sky Harbor International Airport and five minutes from Old Town Scottsdale’s dining and cultural attractions. The property is surrounded by hospitals and wellness facilities. Amenities include a chef’s kitchen, formal dining areas, social lounges, an on-site salon, therapy spaces, and outdoor courtyards. A caregiver suite and administrative office enhance operational efficiency. RV hookups provide a value-add opportunity for live-in staff or extended family stays. The property is fully occupied and generating a strong NOI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sherwood Heights Adult ... Nursing Home

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • The Senior Living Institute — Scottsdale, AZ 85257
    • Sherwood Heights Adult Living — 5813 E Lewis Ave, Scottsdale, AZ 85257
    • Fibco Family Services Inc — 6388 E Oak St, Scottsdale, AZ 85257
    • Letis at Valencia 1 MDSL — 5401 E Verde Ln, Phoenix, AZ 85018
    • Letis at Valencia 2 MDSL — 5402 E Verde Ln, Phoenix, AZ 85018

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9101368
    Latitude
    33.5050384

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    FAQs

    What type of property is this?
    Assisted living facility - Fully stabilized assisted living estate in Scottsdale's Arcadia corridor.
    Where is this assisted living facility located?
    The property is located at 5813 E Lewis Ave Scottsdale, AZ.
    What is the asking price?
    The asking price for this property is $3,700,000.
    What are key features of this property?
    This property features: Fully stabilized, luxury assisted living estate in the prestigious Arcadia Scottsdale corridor.; Prime location near Downtown Scottsdale, Arcadia Proper, the Biltmore District, and Downtown Phoenix, with convenient access to amenities and services.; **7,361 square feet with 11 private bedrooms and 10 bathrooms**, renovated in 2019 with modern finishes and ADA compliance.
    (480) 766-2973 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jake Crawford
    Real Estate License ID: SA646424000
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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