Property summary
This exceptional Scottsdale office building presents a compelling investment opportunity. The 21,278 square foot, two-story building boasts a striking Spanish Colonial design, featuring stucco walls, clay tile roofing, and attractive landscaping with mature trees and flowering plants. Built in 1987, this Class B property is situated on a 1.78-acre lot in the desirable Scottsdale Ranch submarket, zoned C-2. Currently 100% occupied with a multi-tenant lease structure, it generates a substantial net operating income (NOI) of $315,000, representing a 5.00% cap rate. The asking price is $6,300,000, or $296.08 per square foot. The building includes a hydraulic passenger elevator, exterior stairs, and a remotely monitored fire sprinkler system. Architectural details include hand-painted ceramic tile, French doors, multi-paned windows, exposed wood beams, and a courtyard fountain. Many suites offer private patios or balconies, and ample parking is provided (4.61 spaces per 1,000 sq ft). The property's design is well-suited for small businesses in financial and service industries. This is a stabilized investment with a strong NOI and excellent potential for future growth in a highly sought-after location. The property's APN is 217-35-987C.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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from $99/month
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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