Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Upscale Outdoor Shopping Center Space Title is generated by Realmo AI

    23207 N Scottsdale Rd, Scottsdale, AZ 85255

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Premier shopping center space in Scottsdale's Silverstone Marketplace.

    Type:Restaurant
    Lot size:
    12.00 Acres
    Added:
    Feb 6, 2025
    Days on Market:
    459
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 23207 N Scottsdale Rd

    General Information

    Standard status
    Active
    Lot size
    12.00 Acres
    Property subtype
    Restaurant

    Spaces For Lease

    at 23207 N Scottsdale Rd Contact us

    We can help!

    Listing Contact
    Matt Milinovich

    Listing agent Matt Milinovich License #AZ SA504456000

    Listing office Avison Young - Phoenix

    Listing date Feb 6, 2025

    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 Avison Young - Phoenix

    HighLights

    • Upscale restaurant space in a premier shopping center.
    • Anchored by Sprouts Farmers Market.
    • Servicing affluent master‑planned communities (Grayhawk, Desert Foothills, Boulders, Troon, Desert Ridge & DC Ranch).
    • Part of Silverstone Development, a mixed‑use project.
    • Diverse tenant roster.
    • Built in 2015.

    Overview

    Silverstone Marketplace is an upscale, 75,000-square-foot outdoor shopping center built in 2015. Spanning 12 acres, it is part of the Silverstone Development, a mixed-use project consisting of office, retail, a public library, and assisted living. Anchored by Sprouts Farmers Market, the neighborhood shopping center is occupied by a diverse tenant roster. The shopping center services the affluent neighboring master-planned communities of Grayhawk, Desert Foothills, Boulders, Troon, Desert Ridge, and DC Ranch. This upscale restaurant space offers an excellent opportunity to join this premier shopping center.
    Location Intelligence

    Current Use by Public Records

    Dr. Jasandeep Uppal Physician Starbucks Cafe & Coffee Shop Hangers Cleaners (Bike/Boat/Book/etc) Store Dr. Jeevan Sandhu Physician Scottsdale Eyeology Eye Care Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Firehouse Subs Pinnacle Peak — 23335 N Scottsdale Rd Ste. D101, Scottsdale, AZ 85255

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.9237444
    Latitude
    33.697155

    Nearby Similar for Lease

    • Contact for pricing

      Scottsdale Office Condo For Lease

      2,563 SF office condo in Hayden Business Center.
      14201 N Hayden Rd #A4, Scottsdale, AZ 85260
      View Details
    • $29 SF/Yr

      Scottsdale Airpark Office Leasing Opportunity

      Office space in a dynamic Scottsdale Airpark location with premier amenities.
      8801 E Raintree Dr, Scottsdale, AZ 85260
      View Details
    • $29 SF/Yr

      Scottsdale Medical Office Space Available

      Premier medical office space in thriving Scottsdale healthcare corridor.
      7221 East Princess Drive, Scottsdale, AZ, 85255
      View Details
    • Contact for pricing

      AZ, Scottsdale - Scottsdale Quarter

      15169 Scottsdale Rd, Scottsdale, AZ 85260
      View Details
    • Contact for pricing

      AZ, Scottsdale- Scottsdale Spectrum

      6710 Scottsdale Rd, Unit 100, Scottsdale, AZ 85253
      View Details
    • Sponsored
      Contact for pricing

      Scottsdale Financial Center III

      7272 Indian School Rd, Unit 540, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      AZ, Scottsdale - N 92nd St

      10101 92Nd St, Unit 201, Scottsdale, AZ 85258
      View Details
    • Contact for pricing

      Promenade Corporate Center

      16427 Scottsdale Rd, Unit 410, Scottsdale, AZ 85254
      View Details
    • Contact for pricing

      Raintree Corporate Center

      15333 Pima Rd, Unit 305, Scottsdale, AZ 85260
      View Details
    • Contact for pricing

      Spaces Old Town Galleria

      4343 Scottsdale Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Camelback Square

      6991 Camelback Rd, Unit D-300, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Fashion Square

      7150 Camelback Rd, Unit 444, Scottsdale, AZ 85251
      View Details

    FAQs

    What type of property is this?
    Restaurant - Premier shopping center space in Scottsdale's Silverstone Marketplace.
    Where is this restaurant located?
    The property is located at 23207 N Scottsdale Rd Scottsdale, AZ.
    What are key features of this property?
    This property features: Upscale restaurant space in a premier shopping center.; Anchored by Sprouts Farmers Market.; Servicing affluent master‑planned communities (Grayhawk, Desert Foothills, Boulders, Troon, Desert Ridge & DC Ranch).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Milinovich
    Real Estate License ID: AZ SA504456000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    23207 N Scottsdale Rd, Scottsdale, AZ 85255
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!