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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16500 Scottsdale Rd Scottsdale, AZ 85254-1821

    • Strip malls
    • 8,290 SF
    • 0.86 lot acres
    OFF-MARKET
    Last Sale
    Dec 03, 2021
    Value Estimations
    $2,050,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2472834
    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.

    Current Use by Public Records

    • Boo and Henry's Memphis Pit BBQ Restaurant / Restaurant / Barbecue Restaurant
    • Sleep Number / Home Goods Store / Mattress Store
    • Brady's Finest Electricians / Electrician

    Property Details for 16500 Scottsdale Rd

    Year built
    2016
    Construction
    CONCRETE
    Lot size
    0.86 lot acres
    Property size
    8,290 SF
    Zone code
    CP/GCP
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    215-43-331B
    APU
    21543331B

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,154,000
      Market price range: $309k - $3.30M
      AI Estimate
      $1,949,000
      Market price range: $212k - $3.21M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,795,000
      Current use
      AUTO REPAIR, GARAGE
      $3,415,000
      Change: +90% Conversion: Difficult
      MEDICAL BUILDING
      $2,895,000
      Change: +61% Conversion: Difficult
      OFFICE BUILDING
      $2,390,000
      Change: +33% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.926
    Latitude
    33.6362
    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
    $30,091
    $0.00
    $0.00
    $396,645
    -
    $1,101,500
    $1,302,409
    $2,403,909

    Comparable in this City

    • Value Estimation
      $4,725,000
      13,500 SF

      6501 Greenway Pkwy Ste, Unit 103

      SHOPPING CENTER, STRIP CENTER • 13,500 SF
      6501 Greenway Pkwy Ste, Scottsdale, AZ 85254-2070
      View Details
    • Value Estimation
      $2,305,000
      6,960 SF

      6501 Greenway Pkwy, Unit 2

      SHOPPING CENTER, STRIP CENTER • 6,960 SF
      6501 Greenway Pkwy, Scottsdale, AZ 85254-2025
      View Details
    • Value Estimation
      $3,115,000
      16,570 SF

      6501 Greenway Pkwy, Unit 5

      SHOPPING CENTER, STRIP CENTER • 16,570 SF
      6501 Greenway Pkwy, Scottsdale, AZ 85254-2025
      View Details
    • Value Estimation
      $4,355,000
      70,426 SF

      13802 Scottsdale Rd

      SHOPPING CENTER, STRIP CENTER • 70,426 SF
      13802 Scottsdale Rd, Scottsdale, AZ 85254-3458
      View Details
    • Value Estimation
      $5,330,000
      13,582 SF

      15425 Scottsdale Rd

      SHOPPING CENTER, STRIP CENTER • 13,582 SF
      15425 Scottsdale Rd, Scottsdale, AZ 85254-8188
      View Details
    • Value Estimation
      $10,320,000
      47,342 SF

      13610 Scottsdale Rd

      SHOPPING CENTER, STRIP CENTER • 47,342 SF
      13610 Scottsdale Rd, Scottsdale, AZ 85254-4037
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,246 SF

      Retail Space Near Kierland Commons

      Retail property near Scottsdale, high traffic, ample parking.
      6339 E Greenway Rd, Scottsdale, AZ 85254
      View Details
    • Contact for pricing
      48,528 SF

      Scottsdale Retail Space For Sale

      Retail property in central Scottsdale near Paradise Valley and Gainey Ranch.
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      569,558 SF

      Scottsdale Retail Space For Sale

      Prime retail location in North Scottsdale's trade area.
      16231 N Scottsdale Rd, Scottsdale, AZ 85254
      View Details
    • $2,238,000
      900 SF

      Scottsdale Retail Investment Opportunity

      Starbucks-Leased Retail Building
      7050 E Shea Blvd, Scottsdale, AZ 85254
      View Details
    • $1,800,000
      5,100 SF

      Upscale Office Building in Scottsdale

      Class A office space in Agua Caliente mixed-use center.
      10685 N 69Th St, Scottsdale, AZ 85254
      View Details
    • $868,000
      2,516 SF

      Scottsdale Office Condo For Sale

      2,516 SF office condo with functional layout in Scottsdale.
      5425 E Bell Rd, Scottsdale, AZ 85254
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,190 SF

      Scottsdale Retail Space For Lease

      Retail space in high-traffic North Scottsdale shopping center.
      14418 N Scottsdale Rd, Scottsdale, AZ 85254
      View Details
    • Contact for pricing
      2,645 SF

      Scottsdale Retail Space For Rent

      Retail space in a heavily trafficked, Safeway-CVS anchored Scottsdale center.
      10893 N Scottsdale Rd, Scottsdale, AZ 85254
      View Details
    • Contact for pricing
      50,000 SF

      Scottsdale Retail Center Opportunity

      Prime Scottsdale location, multiple spaces available.
      6990 Shea Blvd, Scottsdale, AZ 85254
      View Details
    • Contact for pricing
      118,000 SF

      Kierland Village Center Retail Space

      Scottsdale retail space, 1,214 sq ft available.
      64th St & Greenway Rd, Scottsdale, AZ 85254
      View Details
    • Contact for pricing
      9,448 SF

      Spring Plaza Retail Center

      Scottsdale Shopping Center - Two Spaces Available
      10830 71St Pl, Scottsdale, AZ 85254
      View Details
    • Contact for pricing
      1,959 SF

      Upscale Scottsdale Retail Space

      Retail space in affluent North Scottsdale neighborhood with high traffic.
      14202 N Scottsdale Rd, Scottsdale, AZ 85254
      View Details
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    Scottsdale, AZ 85254-1821
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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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