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    The Largest CRE Database in the US with Over 1 Million Listings

    7431 6Th Ave Scottsdale, AZ 85251

    Sponsored
    For Sale
    $1,749,000

    Prime .49-acre lot, buildable live/work space.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    416
    This exceptional .49-acre lot in Old Town Scottsdale presents a unique live/work opportunity. Located at 7431 E 6th Ave, Scottsdale, AZ 85251 (APN 173-40-078), this property is zoned D/OR-2 and situated in an Opportunity Zone. Pre-approved plans are included for a three-story building totaling 4,307 square feet. The proposed design features 1,274 square feet of commercial space on the first floor, 2,724 square feet of combined commercial/residential space on the second floor, and 1,482 square feet of residential space plus a 181 square foot patio on the third floor. The property's prime location offers close proximity to the highly desirable Scottsdale Road and Camelback Road intersection, placing it within easy reach of Scottsdale's premier shopping, dining, and entertainment destinations. Nestled within Old Town's vibrant atmosphere, this lot provides unparalleled access to a diverse array of shops, restaurants, galleries, and nightlife, all within walking distance. The blend of modern amenities and historic charm makes this an exceptional investment opportunity. The asking price is $1,749,000.

    Property Features for 7431 6Th Ave

    General Information

    Property type
    Land
    Lot Size
    21,344 SF

    We can help!

    Listing Contact
    Nick Miner
    Nick Miner

    Learn more

    Property Insight Report

    HighLights

    • Exclusively listed by Orion Investment Real Estate, Nick Miner, CCIM.
    • Proposed three‑story live/work building totaling 4,307 square feet (1,274 SF commercial on the first floor, 2,724 SF commercial/residential on the second, and 1,482 SF residential plus 181 SF patio on the third).
    • Prime Scottsdale location near Scottsdale Road and Camelback Road.
    • Excellent proximity to Scottsdale's premier shopping and entertainment.
    • Located in an Opportunity Zone; offered at $1,995,000.
    • Parcel/APN: 173‑40‑078; Zoned D/OR‑2.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9205618567
    Latitude
    33.498941652726

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    FAQs

    What type of property is this?
    Land - Prime .49-acre lot, buildable live/work space.
    Where is this land located?
    The property is located at 7431 6Th Ave Scottsdale, AZ.
    What is the asking price?
    The asking price for this property is $1,749,000.
    What are key features of this property?
    This property features: Exclusively listed by Orion Investment Real Estate, Nick Miner, CCIM.; Proposed three-story live/work building totaling 4,307 square feet (1,274 SF commercial on the first floor, 2,724 SF commercial/residential on the second, and 1,482 SF residential plus 181 SF patio on the third).; Prime Scottsdale location near Scottsdale Road and Camelback Road.
    (480) 612-0384
    Request Owner's contact information
    7431 6Th Ave Scottsdale, AZ 85251
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    Scottsdale, AZ 85251
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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.

    More about this property
    7431 6Th Ave Scottsdale, AZ 85251
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    We can help!
    Listing Contact
    Nick Miner
    Nick Miner
    Real Estate License ID: BR530564000
    (480) 612-0384
    Learn more
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