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    Property profile & analytics

    8573 Princess Dr Scottsdale, AZ 85255

    • Office properties & Spaces
    • 71,159 SF
    • 5.70 lot acres
    For Lease
    View listing
    $26 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Akhilesh Sharma / Physician
    • Ms. Leslie Zeckser / Physician
    • Pima Primary Care / Physician
    • Dr. James Galati / Dental Office
    • Emma Castillo / Physician

    Property Details for 8573 Princess Dr

    Year built
    2003
    Lot size
    5.70 lot acres
    Property size
    71,159 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional medical office complex, the Princess Medical Center, offers a prime opportunity for healthcare professionals seeking versatile space in the thriving Scottsdale Airpark submarket. Located at 8573 E Princess Dr, Scottsdale, AZ 85255, this Class B property boasts two buildings totaling approximately 71,159 square feet. The property features multiple tenancy options, with spaces ranging from a minimum of 2,018 square feet to a maximum contiguous space of 4,580 square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.894
    Latitude
    33.6454

    Comparable in this City

    • Value Estimation by Request
      40,000 SF

      7231 Princess Blvd

      Office Units • 40,000 SF
      7231 Princess Blvd, Scottsdale, AZ 85255
      View Details
    • Value Estimation by Request
      1,187 SF

      7344 Deer Valley Rd

      Medical Office Space • 1,187 SF
      7344 Deer Valley Rd, Scottsdale, AZ 85255
      View Details
    • Value Estimation
      $15,365,000
      26,104 SF

      20211 Scottsdale Healthcare Dr

      MEDICAL BUILDING • 26,104 SF
      20211 Scottsdale Healthcare Dr, Scottsdale, AZ 85255-4133
      View Details
    • Value Estimation
      $1,525,000
      7,216 SF

      7308 Deer Vly Rd Ste, Unit 100

      MEDICAL BUILDING • 7,216 SF
      7308 Deer Vly Rd Ste, Scottsdale, AZ 85255-7451
      View Details
    • Value Estimation
      $880,000
      5,138 SF

      7328 Deer Vly Rd Ste, Unit 115

      MEDICAL BUILDING • 5,138 SF
      7328 Deer Vly Rd Ste, Scottsdale, AZ 85255-7454
      View Details
    • Value Estimation by Request
      2.91 Acres

      7400 Thompson Peak Pkwy

      MEDICAL BUILDING • 2.91 Acres
      7400 Thompson Peak Pkwy, Scottsdale, AZ 85255-4109
      View Details

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    Similar Nearby for Lease

    • $26 SF/Yr
      71,159 SF

      Princess Medical Center: Scottsdale

      Medical Office Suites Available in Scottsdale Airpark
      8573 Princess Dr, Scottsdale, AZ 85255
      View Details
    • Contact for pricing
      20,000 SF

      Class A Medical Office Space

      Located in Scottsdale's Healthcare Corridor, opening early Fall 2024.
      20159 N Scottsdale Rd, Scottsdale, AZ 85255
      View Details
    • Contact for pricing
      6,023 SF

      North Scottsdale Medical Office Space

      Premium medical office space in a high-traffic Scottsdale location.
      8322 E Hartford Dr, Scottsdale, AZ 85255
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    • $28 SF/Yr
      24,154 SF

      Scottsdale Executive Office Suites

      Prestigious Scottsdale Office Space Available
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      75,000 SF

      Scottsdale Executive Office Space

      Prime Scottsdale location, 6,500 sq ft available.
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    • $17 SF/Yr
      11,609 SF

      Scottsdale Office Space for Lease

      Prime Scottsdale location, multiple suites available.
      23200 Pima Rd, Scottsdale, AZ 85255
      View Details
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    8573 Princess Dr
    Scottsdale, AZ 85255
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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
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