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    2515-2525 Scottsdale Rd Scottsdale, AZ 85257
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    Property profile & analytics

    2515-2525 Scottsdale Rd, Scottsdale, AZ 85257

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    • Lifestyle centers
    • 40,028 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2515-2525 Scottsdale Rd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Wilshire Plaza, located at 2515-2525 N Scottsdale Rd, Scottsdale, AZ 85257, presents a compelling retail investment opportunity. This shopping center boasts a total of 40,028 square feet, with a highly desirable 1,920 square feet currently vacant and immediately available. The property sits on a substantial 144,184 square foot lot in Maricopa County, offering excellent visibility and accessibility. Its prime location in South Scottsdale provides frontage on Scottsdale Road, placing it minutes from Downtown Scottsdale and Arizona State University. The center benefits from its proximity to the intersection of Scottsdale Road and Thomas Road, and is situated north of Skysong, a significant 1.2 million square foot mixed-use development. Wilshire Plaza is a thriving neighborhood center, featuring a diverse mix of shops, restaurants, and services catering to the residents of Scottsdale and Tempe. This area is experiencing significant redevelopment, with numerous mixed-use projects underway and thousands of residential units planned, promising substantial future growth and increased foot traffic. The minimum divisible space is 1,920 square feet, making it ideal for a variety of retail uses. This is a rare chance to secure a space in a rapidly developing and highly sought-after area of Scottsdale.

    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
    -111.925
    Latitude
    33.4754

    Comparable in this City

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      $11,670,000
      29,726 SF

      2311 Miller Rd, Unit 100

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      2311 Miller Rd, Scottsdale, AZ 85257-2201
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    • Value Estimation
      $6,300,000
      30,400 SF

      8001 Roosevelt St

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
      $2,665,000
      13,772 SF

      1495 Hayden Rd

      SHOPPING CENTER, STRIP CENTER
      1495 Hayden Rd, Scottsdale, AZ 85257-3762
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    • Value Estimation
      $3,345,000
      20,132 SF

      2200 Scottsdale Rd

      SHOPPING CENTER, STRIP CENTER
      2200 Scottsdale Rd, Scottsdale, AZ 85257-2145
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    • Value Estimation
      $5,400,000
      13,762 SF

      7730 Mcdowell Rd, Unit 101

      SHOPPING CENTER, STRIP CENTER
      7730 Mcdowell Rd, Scottsdale, AZ 85257-3772
      View Details
    • Value Estimation
      $715,000
      8,820 SF

      1612 Miller Rd

      SHOPPING CENTER, STRIP CENTER
      1612 Miller Rd, Scottsdale, AZ 85257
      View Details

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      Retail Property Near Hayden Road

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    Similar Nearby for Lease

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      Retail Space on Scottsdale Road

      Retail space available for lease at Scottsdale Rd & McDowell.
      2200 N Scottsdale Rd, Scottsdale, AZ 85257
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      Mixed-Use Project in Scottsdale, AZ

      Mixed-use property with office, retail, and residential spaces for rent.
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    • $37 SF/Yr
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      SkySong Mixed-Use Project Space

      Mixed-use project with office, retail, and hospitality spaces available.
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      Mixed-Use Project at SkySong

      Mixed-use property with office, research, retail, and residential spaces.
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      Retail Space in High-Traffic Location

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      2525 N Scottsdale Rd, Scottsdale, AZ 85257
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      1,400 SF

      Retail Space in Scottsdale Center

      Retail spaces available in high-traffic Scottsdale shopping center.
      2765 N Scottsdale Rd, Scottsdale, AZ 85257
      View Details
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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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    2515-2525 Scottsdale Rd, Scottsdale, AZ, 85257
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