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Property profile & analytics
FOR LEASE
Strip malls
1290 N Scottsdale Rd Tempe, AZ 85224
Entity Owned
1-yr Hold
Free & Clear
Property ID
US07-0022701
For Lease
1 / 5
$11 SF/Yr
1290 N Scottsdale Rd, Tempe, AZ 85224
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Property summary
AI-generated overview
This exceptional retail property, Rio Salado Courtyard, offers 58,061 square feet of commercial space in Maricopa County. Currently, there is one available space totaling 4,799 square feet, perfect for a variety of retail businesses. The property boasts ample parking, a significant advantage for customers and employees. Built in 1990, the building is well-established and situated within a thriving commercial area. The multi-tenant configuration provides a diverse and vibrant atmosphere. This is an excellent opportunity for businesses seeking high visibility and convenient access. The available space presents a chance to establish or expand a retail presence in a well-maintained and strategically located building. The property's substantial size and ample parking ensure a comfortable shopping experience for patrons. The existing tenant mix contributes to a strong and established commercial environment. This is a rare opportunity to secure a prime retail space in a desirable location with excellent parking. Interested parties are encouraged to inquire for further details and leasing information. The property is available for lease.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Construction
CONCRETE
Total area
15,160 SF
Lot
5.54 ac (241,410 SF)
Zoning code
PCC-1
APN
132-03-237A
UPID
US07-0022701
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
-
Hoookahmania Bar & Pub (Bike/Boat/Book/etc) Store
-
Mijana Restaurant
-
Goodwill Retail Store and Donation Center Discount Store
-
Trade Mark Big Box & Wholesale Store
-
FlexKing Fitness LLC Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.50M
Blend (final)
Blend
$12.26M
Owner & transaction history
City Of Tempe · 1 yrs held
City Of Tempe
since 2024
7 recorded transactions
Zoning & alternative use
PCC-1 · Tempe, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.6M
+38.8%
Auto repair, garage
$10.4M
+36.9%
Retail stores
$8.0M
+4.9%
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 Tempe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tempe 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
NEIGHBORHOOD: SHOPPING CENTER
$7,610,000
Current use
RESTAURANT
$10,570,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,420,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$7,985,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$12.26M
Range $11.03M – $13.49M · ±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
$809 / 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
$109,644
Tax year 2023
Assessed value
$1,480,372
Assessed 2024
Previous assessed
$1,202,563
+23.1% YoY
Effective rate
7.41%
On assessed value
Land market value
$4,576,400
Improvement market value
$4,395,553
Total market value
$8,971,953
Applied tax rate
31,600.0000
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
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
15,160 SF
Lot
5.54 ac (241,410 SF)
Zoning code
PCC-1
APN
132-03-237A
UPID
US07-0022701
Jurisdiction
MARICOPA
Zoning & alternative use
PCC-1 · Tempe, AZ
Zoning PCC-1 · permitted uses
PCC-1 · Tempe, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tempe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.6M
RESTAURANT
Est. value
$10.6M
AUTO REPAIR, GARAGE
Est. value
$10.4M
RETAIL STORES
Est. value
$8.0M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
5.54 ac
Current owner
From public records · entity-resolved
City Of Tempe
Entity
Free & Clear · 1 yrs held
Mailing address
1897 E ALUM ROCK AVE STE #20, SAN JOSE, CA 95116-1371
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
21 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2024
—
City Of Tempe
A&l Rio Salado LLC
Warranty Deed
—
Aug 10, 2016
—
A & L Rio Salado LLC
Rio Salado Center LLC
Quit Claim Deed
$4,000,000 · Bank Of The West
Feb 16, 2006
—
Rio Salado Center LLC
Matos,manuel A & Maria L
Grant Deed
—
Sep 15, 2004
$4,975,000
Manuel A Matos
Rio Salado Courtyard LLC
Grant Deed
$3,450,000 · Ameritas Life Insurance Corp
Feb 24, 1999
$75,000
Rio Salado Courtyard LLC
Moscato,john A & Barbara
Grant Deed
—
Dec 24, 1998
$419,940
Rio Salado Courtyard LLC
Setzen,sheryl
Grant Deed
—
Dec 22, 1998
$53,750
Rio Salado Courtyard LLC
Moscato,john J & Rose
Grant Deed
—
Sep 14, 1998
$85,000
Rio Salado Courtyard LLC
Tedaldi,lew
Grant Deed
—
Aug 11, 1998
—
Rio Salado Courtyard LLC
Sds/sasd Realty Holding LLC
Grant Deed
related
—
May 12, 1998
—
Sds/sasd Realty Holdings LLC
Manza,paul T
Grant Deed
related
—
May 11, 1998
—
Fiali Trust
Fiali,john N & Roberta N
Quit Claim Deed
related
—
Jan 22, 1998
—
John A Moscato
Manza,paul T
Grant Deed
related
—
Feb 11, 1994
$45,000
John N Fiali
Manza
Grant Deed
—
Dec 20, 1993
$50,000
Tedaldi,lew
Manza
Trustees Deed
—
Dec 20, 1993
$25,000
Moscato,john J & Rose
Manza
Trustees Deed
—
Apr 19, 1993
$150,000
Fiali,roberta N L & John N
Manza
Trustees Deed
—
Apr 19, 1993
—
Sheryl D Setzen
Setzen
Quit Claim Deed
related
—
—
—
Rio Salado Center LLC
—
Deed Of Trust
related
$9,791 · Abel & Olga Martins
—
—
Rio Salado Center LLC
—
Deed Of Trust
related
$574,563 · Arnoldo S & Luisa O Matos
—
—
Rio Salado Center LLC
—
Deed Of Trust
related
$236,368 · Manuel A & Maria L Matos
—
—
Rio Salado Center LLC
—
Deed Of Trust
related
$498,359 · Adriano B & Teresa M Sousa
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.
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