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

    23587 Scottsdale Rd Scottsdale, AZ 85255-3470

    • Grocery and convenience stores
    • 2,708 SF
    • 12.16 lot acres
    OFF-MARKET
    Value Estimations
    $2,235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0165688
    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

    • Hornacek's Golf / Golf Shop
    • Jalapeño Inferno, Pinnacle Peak / Mexican Restaurant / Bar
    • Jalapeno Inferno / Mexican Restaurant
    • Salon At the Peak / Beauty Salon / Nail Salon

    Property Details for 23587 Scottsdale Rd

    Year built
    1991
    Construction
    CONCRETE
    Lot size
    12.16 lot acres
    Property size
    2,708 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    212-05-187A
    APU
    21205187A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,256,000
      Market price range: $740k - $2.26M
      AI Estimate
      $2,212,000
      Market price range: $689k - $2.21M

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.924
    Latitude
    33.7
    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
    $305,600
    $0.00
    $0.00
    $4,151,400
    -
    $11,621,500
    $13,538,500
    $25,160,000

    Comparable in this City

    • Value Estimation
      $25,910,000
      57,798 SF

      20745 Scottsdale Rd

      GROCERY, SUPERMARKET • 57,798 SF
      20745 Scottsdale Rd, Scottsdale, AZ 85255-6594
      View Details
    • Value Estimation
      $2,700,000
      3,271 SF

      22111 Scottsdale Rd

      CONVENIENCE STORE • 3,271 SF
      22111 Scottsdale Rd, Scottsdale, AZ 85255-7465
      View Details
    • Value Estimation
      $44,115,000
      56,400 SF

      20715 Pima Rd Ste, Unit 115

      GROCERY, SUPERMARKET • 56,400 SF
      20715 Pima Rd Ste, Scottsdale, AZ 85255-6685
      View Details
    • Value Estimation
      $21,045,000
      26,903 SF

      23271 Scottsdale Rd Ste A106

      GROCERY, SUPERMARKET • 26,903 SF
      23271 Scottsdale Rd Ste A106, Scottsdale, AZ 85255-4484
      View Details
    • Value Estimation
      $3,615,000
      6,197 SF

      23405 Scottsdale Rd

      FINANCIAL BUILDING • 6,197 SF
      23405 Scottsdale Rd, Scottsdale, AZ 85255-3461
      View Details
    • Value Estimation
      $7,090,000
      15,448 SF

      21811 Scottsdale Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,448 SF
      21811 Scottsdale Rd, Scottsdale, AZ 85255-7441
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,725 SF

      Scottsdale Road Retail Space Available

      Retail space available in prominent Scottsdale retail trade area.
      17757 North Scottsdale Rd, Scottsdale, AZ 85255
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    • Contact for pricing
      575,000 SF

      Scottsdale Retail Center

      Prime Scottsdale location, 575,000 SF retail space.
      20001 Scottsdale Rd, Scottsdale, AZ 85255
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      New Scottsdale Retail Investment Opportunity

      Newly built, fully occupied retail property in prime Scottsdale location.
      20001 North Scottsdale Rd, Scottsdale, AZ 85255
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    • $11,380,000
      10,616 SF

      Scottsdale Retail Investment Opportunity

      Prime Scottsdale Retail Center, 5 Tenants
      101 Scottsdale Rd, Scottsdale, AZ 85255
      View Details
    • $275,000
      1.85 Acres

      Scottsdale Land with Horse Privileges

      Almost two acres in Pinnacle Peak Heights, priced below comparable properties.
      23437 N Church Rd, Scottsdale, AZ 85255
      View Details
    • $4,200,000
      3.72 Acres

      Scottsdale View Lot in Silverleaf

      Prestigious 3.72-acre view lot with building envelope.
      11400 E Hideaway Ln, Scottsdale, AZ 85255
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,040 SF

      Scottsdale Retail Space For Rent

      Retail space available in North Scottsdale, near Loop 101.
      18281-18291 N Pima Rd, Scottsdale, AZ 85255
      View Details
    • Contact for pricing
      1 SF

      Retail Space in Affluent Scottsdale

      Retail opportunity in high-income North Scottsdale neighborhood.
      23251 N Pima Rd, Scottsdale, AZ 85255
      View Details
    • Contact for pricing
      1,678 SF

      Scottsdale Retail Space For Rent

      Retail space in North Scottsdale, anchored by specialty grocer.
      18261-18281 N Pima Rd, Scottsdale, AZ 85255
      View Details
    • Contact for pricing
      72,865 SF

      Retail Spaces in Scottsdale Center

      Retail spaces available in A.J.'s anchored DC Ranch center.
      18221 North Pima Rd, Scottsdale, AZ 85255
      View Details
    • Contact for pricing
      4,300 SF

      Scottsdale Road Retail and Office

      Retail and office spaces available for lease on Scottsdale Road.
      18511 N Scottsdale Rd, Scottsdale, AZ 85255
      View Details
    • Contact for pricing
      1,388 SF

      Scottsdale Retail Space For Rent

      Retail space available in Scottsdale, near restaurants and wellness options.
      7609 E Pinnacle Peak Rd, Scottsdale, AZ 85255
      View Details
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    23587 Scottsdale Rd
    Scottsdale, AZ 85255-3470
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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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