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Property profile & analytics
OFF-MARKET
Estimated value
$35,200,000
Commercial land
16000 Scottsdale Rd Scottsdale, AZ 85254-2152
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-1005975
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
2000
Construction
CONCRETE
Total area
134,198 SF
Lot
5.69 ac (247,639 SF)
Zoning code
C-2
APN
215-42-018
UPID
US07-1005975
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
-
Mill Creek Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$29.11M
Comparable Approach
Comparable
$25.75M
Blend (final)
Blend
$35.20M
Owner & transaction history
Mcref III Kierland Apartments LLC · 3 yrs held
Mcref III Kierland Apartments LLC
since 2022
Last sale
$43.8M
3 recorded transactions
Zoning & alternative use
C-2 · Scottsdale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$33,640,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$31,535,000
6.5%
$29,110,000
7%
$27,030,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$55,295,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$35.20M
Range $31.68M – $38.72M · ±10% · vs last sale $43.75M (Sep 27 2022)
Last sale anchor
$43.75M
Sep 27 2022
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
$262 / 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
$48,223
Tax year 2023
Assessed value
$1,117,860
Assessed 2024
Previous assessed
$3,490,389
-68.0% YoY
Effective rate
4.31%
On assessed value
Land market value
$7,452,400
Total market value
$7,452,400
Applied tax rate
691,300.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
2000
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
134,198 SF
Lot
5.69 ac (247,639 SF)
Zoning code
C-2
APN
215-42-018
UPID
US07-1005975
Jurisdiction
MARICOPA
Zoning & alternative use
C-2 · Scottsdale, AZ
Zoning C-2 · permitted uses
C-2 · 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
AUTO REPAIR, GARAGE
Est. value
$55.3M
AUTO REPAIR, GARAGE
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
2000
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
5.69 ac
Current owner
From public records · entity-resolved
Mcref III Kierland Apartments LLC
Entity
Mailing address
15210 N SCOTTSDALE RD STE #210, SCOTTSDALE, AZ 85254-8127
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2022
$43,750,000
Mcref III Kierland Apartments LLC
16000 Scottsdale LLC
Special Warranty Deed
$155,935,000 · Zb NA
Dec 26, 2012
—
16000 Scottsdale LLC
Roark,j Daniel & Colleen R
Quit Claim Deed
related
—
Jul 14, 1998
$2,971,660
Daniel Roark
Phxaz LP
Grant Deed
—
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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