Ground-Floor Corner Income
For Sale
$128,000
8210 E GARFIELD Street K124, Scottsdale, AZ 85257
Two-bedroom cooperative unit with an enclosed patio converted to office space and a separate exterior exit.
Property Size1,008 SF
Days on Market155
Property Features for 8210 E GARFIELD Street K124
General Information
Standard status
Active
Size
1,008 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
HOA Fee
$407
Amenities
pool
laundry
exercise room
library
meeting room
picnic area
play area
Building Details
Building Size
1,008 SF
Year Built
1965
Listing Agency:
West USA Realty
(602) 432-8298
Listed By:
Janice G Galvin · License #BR021759000
(602) 432-8298
Source:
Alexiabertsatos
Added: Mar 22
Changed: Aug 17
Last Checked: Aug 22 at 11:24AM
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 West USA Realty
Investment Insights
Based on property information with market context.
This ground-floor corner cooperative unit includes two bedrooms, an open kitchen, a full bathroom, and an enclosed 15X8 patio currently configured as an office. The patio has its own exit. Purgo floating flooring extends through the kitchen, bedrooms, and living area, while tile finishes the entryway and bathroom. Greenbelt views are available from the bedrooms, kitchen, living room, and office. The property was built in 1965.
The unit is positioned near the community pool, mail area, and parking. Shared amenities include four pools, four laundry rooms, an exercise room, library, meeting room, picnic areas, and play areas. Bus service, a free trolley, freeways, parks, and shopping are also nearby.
The cooperative requires a cash purchase, does not permit rentals, and allows assisted or comfort animals only. Board and credit approval apply, and immediate occupancy is available.
The unit is positioned near the community pool, mail area, and parking. Shared amenities include four pools, four laundry rooms, an exercise room, library, meeting room, picnic areas, and play areas. Bus service, a free trolley, freeways, parks, and shopping are also nearby.
The cooperative requires a cash purchase, does not permit rentals, and allows assisted or comfort animals only. Board and credit approval apply, and immediate occupancy is available.
Key Highlights
- Ground‑floor corner cooperative unit with two bedrooms
- Enclosed 15X8 patio configured as an office with a separate exit
- Greenbelt views from the bedrooms, kitchen, living room, and office
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
$11,663
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
9.11%
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%
$233,260
$233.3K
Cap Rate 7%
$166,614
$166.6K
Cap Rate 9%
$129,589
$129.6K
Market Conditions
NOI Build-Up for 1,008 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
$22.1K $21.96/SF
− Vacancy
−$930 −$0.92/SF
EGI
$21.2K $21.04/SF
− OpEx
−$9.5K −$9.47/SF
NOI
$11.7K $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%
$233,260
Cap Rate 7%
$166,614
Cap Rate 9%
$129,589
Alternative Uses
Best Use
Apartment 5plus
$166.6K
$145.8K – $194.4K
NOI $11,663 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$330.9K
$289.5K – $386.1K
NOI $23,163 @ 7.0% cap · market cap 18.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
630
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom cooperative unit with an enclosed patio converted to office space and a separate exterior exit.
Where is this residential income property located?
The property is located at 8210 E GARFIELD Street K124 Scottsdale, AZ.
What is the asking price?
The asking price for this property is $128,000.
What are key features of this property?
This property features: Ground‑floor corner cooperative unit with two bedrooms; Enclosed 15X8 patio configured as an office with a separate exit; Greenbelt views from the bedrooms, kitchen, living room, and office
