Renovated Office
New
For Sale
$1,150,000
8038 E ALMERIA Road, Scottsdale, AZ 85257
Dual-zoned commercial property includes two lots and refreshed interior and exterior finishes.
Property Size3,071 SF
Price / SF$374.47
Days on Market3
Property Features for 8038 E ALMERIA Road
General Information
Standard status
Active
Size
3,071 SF
Property subtype
Commercial/Industrial
Zoning
C-T, R-7
Additional Details
Land Use
commercial, residential
Taxes and HOA fees
Annual Taxes
$1,400
Building Details
Year Built
1973
Buildings
1
Listing Agency:
RE/MAX Fine Properties
(602) 391-7164
Listed By:
Brook Miller · License #BR533974000
(602) 391-7164
Source:
Exitrealty
Added: Aug 11
Changed: Aug 13
Last Checked: Aug 13 at 5:48AM
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 RE/MAX Fine Properties
Investment Insights
Based on property information with market context.
This 3,071-square-foot property was constructed in 1973 and originally served as a single-family residence before being used as an attorney’s office. Recent improvements include new carpeting and fresh paint throughout the interior and exterior, providing an updated setting for continued commercial use.
The offering includes two lots totaling over 17,000 square feet at 8038 E ALMERIA Road in Scottsdale. The property carries both C-T and R-7 zoning and is surrounded by commercial properties. Its existing building and adjoining land provide a combination of improved space and additional site area for an owner-user or investor to evaluate within the applicable zoning framework.
The offering includes two lots totaling over 17,000 square feet at 8038 E ALMERIA Road in Scottsdale. The property carries both C-T and R-7 zoning and is surrounded by commercial properties. Its existing building and adjoining land provide a combination of improved space and additional site area for an owner-user or investor to evaluate within the applicable zoning framework.
Key Highlights
- 3,071 SF building constructed in 1973
- Two lots totaling over 17,000 square feet
- Dual zoning: C‑T and R‑7
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
$48,619
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
4.23%
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%
$972,380
$972.4K
Cap Rate 7%
$694,557
$694.6K
Cap Rate 9%
$540,211
$540.2K
Market Conditions
NOI Build-Up for 3,071 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
$78.9K $25.68/SF
− Vacancy
−$14.0K −$4.57/SF
EGI
$64.8K $21.11/SF
− OpEx
−$16.2K −$5.28/SF
NOI
$48.6K $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%
$972,380
Cap Rate 7%
$694,557
Cap Rate 9%
$540,211
Alternative Uses
Best Use
Office B
$694.6K
$607.7K – $810.3K
NOI $48,619 @ 7.0% cap · market cap 4.23%
Second Best
Mixed Use
$618.6K
$541.3K – $721.7K
NOI $43,301 @ 7.0% cap · market cap 3.77%
Theoretical Best
Retail
$1.01M
$882.1K – $1.18M
NOI $70,569 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 85257, AZ
29,187
Population
16,392
Households
1.8
Avg Household Size
39
Median Age
46%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,230
Density / Sq Mi
$79,828
Median Household Income
$54,580
Median Earnings
$1,812
Median Rent
$453,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Dual-zoned commercial property includes two lots and refreshed interior and exterior finishes.
Where is this office building located?
The property is located at 8038 E ALMERIA Road Scottsdale, AZ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,071 SF building constructed in 1973; Two lots totaling over 17,000 square feet; Dual zoning: C‑T and R‑7
