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Property profile & analytics
FOR LEASE
Strip malls
11144 N Frank Lloyd Wright Blvd Scottsdale, AZ 85259
Individually Owned
28-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0903573
For Lease
1 / 2
$2,755,000
11144 N Frank Lloyd Wright Blvd, Scottsdale, AZ 85259
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
CONCRETE
Total area
7,017 SF
Lot
6.75 ac (294,204 SF)
Zoning code
C-3
APN
217-28-743
UPID
US07-0903573
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kirk's Studio for the Performing Arts Tutoring Service
-
Arizona Orthodontic Studio Dental Office
-
Pars Persian Cuisine Restaurant
-
Gary's Barbershop Barber Shop
-
AZRADIO.LIVE Radio Station Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.79M
Blend (final)
Blend
$2.76M
Owner & transaction history
Shipp Ltd L P · 28 yrs held
Shipp Ltd L P
since 1997
2 recorded transactions
Zoning & alternative use
C-3 · Scottsdale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.4M
+126.0%
Retail stores
$3.2M
+112.8%
Auto repair, garage
$2.9M
+90.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Scottsdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Scottsdale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,430,000
Change: +126% · Conversion: Easy
RETAIL STORES
$3,230,000
Change: +113% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,890,000
Change: +90% · Conversion: Difficult
MEDICAL BUILDING
$2,450,000
Change: +61% · Conversion: Difficult
Blend value · Realmo final
$2.76M
Range $2.48M – $3.03M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$393 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$100,424
Tax year 2023
Assessed value
$1,611,905
Assessed 2024
Previous assessed
$1,406,871
+14.6% YoY
Effective rate
6.23%
On assessed value
Land market value
$5,748,900
Improvement market value
$4,398,700
Total market value
$10,147,600
Applied tax rate
481,400.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
7
Stories
1
Units
7
Total area
7,017 SF
Lot
6.75 ac (294,204 SF)
Zoning code
C-3
APN
217-28-743
UPID
US07-0903573
Jurisdiction
MARICOPA
Zoning & alternative use
C-3 · Scottsdale, AZ
Zoning C-3 · permitted uses
C-3 · Scottsdale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Scottsdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$3.4M
RETAIL STORES
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.5M
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
7
Units
7
Lot
6.75 ac
Current owner
From public records · entity-resolved
Shipp Ltd L P
Individual
Mailing address
22200 S SOSSAMAN RD, QUEEN CREEK, AZ 85142-4028
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 1997
$2,000,000
Shipp Ltd L P
Scottsdale Palms INC
Grant Deed
$1,250,000 · Scottsdale Palms INC
—
—
Landrace Holdings LLC
—
Loan Modification
related
$1,000,000 · Wells Fargo Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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