101 Scottsdale Rd, Scottsdale, AZ 85255

Property Details for 101 Scottsdale Rd

Year built

2024

Lot size

1.97 lot acres

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a newly constructed (2024), 10,616 square foot retail center in the heart of Scottsdale, Arizona. Boasting a 100% occupancy rate with a strong mix of five national tenants, including Panera Bread and Qdoba, this Class A property offers a stable and attractive return. The property features a 10-year lease term remaining on a triple-net (NNN) lease structure, generating a substantial net operating income (NOI) of $597,445 and a 5.25% cap rate. Located at the northeast corner of Scottsdale Road and Loop 101, this prime location benefits from high visibility and exceptional access, situated within the thriving Grayhawk neighborhood, an area experiencing over $10 billion in new development within a 5-mile radius. The 1.97-acre lot provides ample parking with 73 spaces. The single-story building is zoned PRC Scottsdale and offers convenient proximity to major transportation arteries, including Loop 101 and Scottsdale Airport, as well as Phoenix Sky Harbor International Airport (less than 30 minutes away). This asset represents a rare chance to acquire a high-quality, newly built retail center in one of Scottsdale's most desirable and rapidly growing areas. The asking price is $11,380,000, translating to a price per square foot of $1,071.97. The property's strategic location, strong tenant mix, and substantial NOI make it an ideal addition to any diversified investment portfolio. The property's location is less than one mile north of the Loop 101 freeway and benefits from the highest average household income in the Phoenix MSA.

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Longitude

-111.917

Latitude

33.6568