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

    2931 Scottsdale Rd Scottsdale, AZ 85251-7207

    • Drive through restaurants
    • 2,779 SF
    • 0.59 lot acres
    OFF-MARKET
    Value Estimations
    $3,355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3445004
    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

    • Panda Express / Chinese Restaurant / Restaurant

    Property Details for 2931 Scottsdale Rd

    Year built
    2013
    Construction
    STEEL FRAME
    Lot size
    0.59 lot acres
    Property size
    2,779 SF
    Zone code
    C-3
    Property type
    Drive through restaurants
    APN
    130-18-016B
    APU
    13018016B

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,492,000
      Market price range: $992k - $3.49M
      AI Estimate
      $3,215,000
      Market price range: $515k - $3.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.926
    Latitude
    33.4815
    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
    $17,739
    $0.00
    $0.00
    $384,534
    -
    $891,300
    $1,439,211
    $2,330,511

    Comparable in this City

    • Value Estimation
      $1,215,000
      1,484 SF

      7150 Thomas Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,484 SF
      7150 Thomas Rd, Scottsdale, AZ 85251-6367
      View Details
    • Value Estimation by Request
      743 SF

      3001 Hayden Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 743 SF
      3001 Hayden Rd, Scottsdale, AZ 85251-6616
      View Details
    • Value Estimation
      $1,540,000
      1,599 SF

      2955 Hayden Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,599 SF
      2955 Hayden Rd, Scottsdale, AZ 85251-6614
      View Details
    • Value Estimation
      $2,690,000
      2,252 SF

      7153 Thomas Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,252 SF
      7153 Thomas Rd, Scottsdale, AZ 85251-6300
      View Details
    • Value Estimation
      $2,150,000
      2,944 SF

      8050 Indian School Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,944 SF
      8050 Indian School Rd, Scottsdale, AZ 85251-2612
      View Details
    • Value Estimation
      $4,570,000
      4,579 SF

      8001 Indian School Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,579 SF
      8001 Indian School Rd, Scottsdale, AZ 85251-2617
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,502 SF

      Scottsdale Restaurant Space for Lease

      Prime Scottsdale location, 1502 sq ft restaurant.
      2955 Hayden Rd, Scottsdale, AZ 85251
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    • $1,300,000
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      Scottsdale Restaurant Redevelopment

      Prime Scottsdale location, vacant, 16,960 SF.
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    • Contact for pricing
      29,731 SF

      Mixed-Use Destination in Old Town

      Mixed-use property with retail, dining, and luxury residences.
      Nwc Indian School Rd & Goldwater Blvd, Scottsdale, AZ 85251
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    • $6,250,000
      6,685 SF

      Old Town Restaurant and Bar

      Fully built-out restaurant and bar with rooftop deck in Scottsdale.
      7341 E 6Th Ave, Scottsdale, AZ 85251
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    • $3,150,000
      3,280 SF

      Old Town Scottsdale Retail Building

      Fully leased retail building in Old Town Scottsdale entertainment district.
      4301 N Civic Center Plz, Scottsdale, AZ 85251
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    • $7,840,000
      9,551 SF

      Barstool Sports Investment Opportunity

      NNN leased Barstool Sports bar/restaurant/nightclub in Old Town Scottsdale.
      4321 N Scottsdale Rd, Scottsdale, AZ 85251
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    Similar Nearby for Lease

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      3,893 SF

      Restaurant/Retail Space in Scottsdale, AZ

      Restaurant/retail space in high-traffic Scottsdale tourist area.
      7032-7042 E Main St, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      8,500 SF

      Retail Space in Arts District

      Retail spaces available in Old Town Scottsdale's Arts District.
      4151 N Marshall Way, Scottsdale, AZ 85251
      View Details
    • $35 SF/Yr
      3,052 SF

      Old Town Scottsdale Retail Opportunity

      Former bar space with outdoor patio in Old Town.
      7125 E 5Th Ave, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      6,034 SF

      Old Town Scottsdale Retail Opportunity

      Mixed-use destination with retail, dining, and luxury residences.
      4154 N Goldwater Blvd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      2,515 SF

      Retail and Dining Space Available

      Mixed-use destination with retail, dining, and luxury residences.
      6935 E 5Th Ave, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      15,176 SF

      Old Town Scottsdale Retail Opportunity

      Mixed-use destination with retail, dining, and luxury residences.
      4110 N Goldwater Blvd, Scottsdale, AZ 85251
      View Details

    Property Visit Statistics

    • Visits by month
      16.6k
    • Visitors by month
      12.8k
    • Avg Time on site
      12 min
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    Scottsdale, AZ 85251-7207
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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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