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

    2623 Scottsdale Rd Scottsdale, AZ 85257-1346

    • Turn key restaurants
    • 1,936 SF
    • 0.54 lot acres
    OFF-MARKET
    Value Estimations
    $1,770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3458917
    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

    • The Well Bar / Sports Bar / Bar

    Property Details for 2623 Scottsdale Rd

    Year built
    1973
    Construction
    CONCRETE
    Lot size
    0.54 lot acres
    Property size
    1,936 SF
    Zone code
    P-1
    Property type
    Turn key restaurants
    APN
    131-29-076B
    APU
    13129076B

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,846,000
      Market price range: $691k - $2.43M
      AI Estimate
      $1,692,000
      Market price range: $430k - $2.24M

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.926
    Latitude
    33.4776
    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
    $7,381
    $0.00
    $0.00
    $171,467
    -
    $823,000
    $216,191
    $1,039,191

    Comparable in this City

    • Value Estimation
      $1,440,000
      1,391 SF

      2534 Scottsdale Rd

      RESTAURANT • 1,391 SF
      2534 Scottsdale Rd, Scottsdale, AZ 85257-1345
      View Details
    • Value Estimation
      $1,040,000
      1,508 SF

      7402 Mcdowell Rd

      RESTAURANT • 1,508 SF
      7402 Mcdowell Rd, Scottsdale, AZ 85257-3548
      View Details
    • Value Estimation
      $5,365,000
      14,960 SF

      1312 Scottsdale Rd

      RESTAURANT • 14,960 SF
      1312 Scottsdale Rd, Scottsdale, AZ 85257-3488
      View Details
    • Value Estimation
      $2,740,000
      5,808 SF

      8040 Mcdowell Rd

      RESTAURANT • 5,808 SF
      8040 Mcdowell Rd, Scottsdale, AZ 85257-3810
      View Details
    • Value Estimation
      $8,880,000
      4,532 SF

      7017 Mcdowell Rd

      RESTAURANT • 4,532 SF
      7017 Mcdowell Rd, Scottsdale, AZ 85257-3313
      View Details
    • Value Estimation
      $550,000
      456 SF

      550 Hayden Rd

      RESTAURANT • 456 SF
      550 Hayden Rd, Scottsdale, AZ 85257-4604
      View Details

    Similar Nearby for Sale

    • $1,420,000
      2,950 SF

      Scottsdale Retail Property For Sale

      Retail property available for purchase in Scottsdale, Arizona.
      1301 N Scottsdale Rd, Scottsdale, AZ 85257
      View Details
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      Scottsdale Freestanding Building with Parking

      Rare Scottsdale building with parking, showroom, and expansion potential.
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      Retail Space with Shipping Containers

      Retail property featuring two shipping containers in Scottsdale, Arizona.
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      1 SF

      Retail Property Near Hayden Road

      Retail property anchored by Fry's near Hayden and McDowell.
      7770 E Mcdowell Rd, Scottsdale, AZ 85257
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    • $645,000
      1,717 SF

      Remodeled Townhome Near Greenbelt

      Remodeled townhome with open floorplan, close to amenities and greenbelt.
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      Scottsdale Multi-Family Development Site

      Large lot available for multi-family development in Scottsdale.
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      View Details

    Similar Nearby for Lease

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      4,209 SF

      Scottsdale Retail Space with Visibility

      Retail space in Scottsdale with high traffic and income.
      7605 E Mcdowell Rd, Scottsdale, AZ 85257
      View Details
    • $37 SF/Yr
      144 SF

      SkySong Mixed-Use Project Space

      Mixed-use project with office, retail, and hospitality spaces available.
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      View Details
    • $39 SF/Yr
      145 SF

      Mixed-Use Project at SkySong

      Mixed-use property with office, research, retail, and residential spaces.
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    • $39 SF/Yr
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      Scottsdale Office Space For Lease

      Class A Office, Multiple Suites Available
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      View Details
    • Contact for pricing
      4,633 SF

      Retail Space Near Papago Park

      Retail space with convenient access to canal and Papago Park.
      6400 E Mcdowell Rd, Scottsdale, AZ 85257
      View Details
    • Contact for pricing
      40,028 SF

      Scottsdale Retail Center Opportunity

      Prime Scottsdale location, 1,920 sq ft available.
      2515-2525 Scottsdale Rd, Scottsdale, AZ 85257
      View Details
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    Scottsdale, AZ 85257-1346
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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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