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    16243 Scottsdale Rd Scottsdale, AZ 85254
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    Property profile & analytics

    16243 Scottsdale Rd, Scottsdale, AZ 85254

    View on Map
    • Outlet malls
    • 130,372 SF
    • 12.97 lot acres
    Off-Market
    Last Sale Aug 2, 2022
    $180,000,000
    Property ID
    US07-1304119
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Promenade Scottsdale / Restaurant
    • Scottsdale Appliance Repair Pros / Home Appliance Store
    • Fig Leaf / (Bike/Boat/Book/etc) Store

    Property Details for 16243 Scottsdale Rd

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    12.97 lot acres
    Zone code
    PRC
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    215-45-032
    APU
    21545032

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 2, 2022 $180,000,000 Scottsdale Promenade LLC Excel Owner Promendade LLC Special Warranty Deed $91M · Umb Bank NA
    Aug 28, 2013 $16,000,000 Excel Sears Promenade LLC Sl-rh Arizona LLC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.92
    Latitude
    33.6348
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $246,287
    $0.00
    $0.00
    $5,230,863
    -
    $21,182,800
    $10,519,400
    $31,702,200

    Comparable in this City

    • Value Estimation
      $26,995,000
      34,513 SF

      16227 Scottsdale Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      16227 Scottsdale Rd, Scottsdale, AZ 85254-1522
      View Details
    • Value Estimation
      $8,280,000
      10,585 SF

      16431 Scottsdale Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      16431 Scottsdale Rd, Scottsdale, AZ 85254-1578
      View Details
    • Value Estimation
      $3,830,000
      13,029 SF

      11201 Scottsdale Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      11201 Scottsdale Rd, Scottsdale, AZ 85254-5158
      View Details
    • Value Estimation
      $48,295,000
      134,428 SF

      16285 Scottsdale Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      16285 Scottsdale Rd, Scottsdale, AZ 85254-1522
      View Details
    • Value Estimation
      $1,045,000
      6,912 SF

      7126 Becker Ln

      SHOPPING CENTER, STRIP CENTER
      7126 Becker Ln, Scottsdale, AZ 85254-5210
      View Details
    • Value Estimation
      $46,495,000
      119,754 SF

      14202 Scottsdale Rd

      SHOPPING CENTER, STRIP CENTER
      14202 Scottsdale Rd, Scottsdale, AZ 85254-4077
      View Details

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      Scottsdale Retail/Office Space Available

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      Scottsdale Retail Space For Sale

      Prime retail location in North Scottsdale's trade area.
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    • $2,200,000
      1.00 Acre

      Scottsdale Land with Development Potential

      Over one acre lot in prime Scottsdale location.
      12210 N 67Th St, Scottsdale, AZ 85254
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      Upscale retail space in a premier Scottsdale shopping destination.
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      1,778 SF

      Premier Scottsdale Quarter Retail Space

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      1,540 SF

      Scottsdale Retail Center For Lease

      Retail spaces in a busy, anchored Scottsdale shopping center.
      10629-10869 N Scottsdale Rd, Scottsdale, AZ 85254
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      2,615 SF

      Scottsdale Retail Space For Rent

      Retail space in a heavily trafficked, Safeway-CVS anchored Scottsdale center.
      10893 N Scottsdale Rd, Scottsdale, AZ 85254
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      1,959 SF

      Upscale Scottsdale Retail Space

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      14202 N Scottsdale Rd, Scottsdale, AZ 85254
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      2,250 SF

      Premier Scottsdale Quarter Retail Space

      Upscale retail space in a premier shopping and lifestyle destination.
      15125 N Scottsdale Rd, Scottsdale, AZ 85254
      View Details

    Property Visit Statistics

    • Visits by month
      17.4k
    • Visitors by month
      13.2k
    • Avg Time on site
      39 min
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    Scottsdale, AZ 85254
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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.

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