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    31313 N Scottsdale Rd Scottsdale, AZ 85266
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    Property profile & analytics

    31313 N Scottsdale Rd, Scottsdale, AZ 85266

    View on Map
    • Strip malls
    • 27,153 SF
    • 14.53 lot acres
    For Lease
    $10,145,000
    View Listing →
    Retail Space Available For Lease For Lease
    $10,145,000

    Retail Space Available For Lease

    Retail space available for lease in Scottsdale, Arizona.

    31313 N Scottsdale Rd, Scottsdale, AZ 85266
    View Listing
    Property ID
    US07-0582143
    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

    • Club Pilates / Gym & Fitness Center
    • Uncle Louie The Restaurant / Restaurant
    • KidStrong North Scottsdale / Gym & Fitness Center
    • Health Cellutions / Physician
    • Baron Paris / (Bike/Boat/Book/etc) Store

    Property Details for 31313 N Scottsdale Rd

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    14.53 lot acres
    Zone code
    PAD
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    216-66-003H
    APU
    21666003H

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 6, 2024 $23,000,000 Ivt Scottsdale North Marketplace 10 He Scottsdale LLC Special Warranty Deed —
    Apr 2, 2020 — Silver Lake Real Estate Trust He Scottsdale LLC Grant Deed · related —
    Jul 24, 2019 $16,075,000 He Scottsdale LLC Lone Mountain Az LLC Warranty Deed $11.3M · Bell Bank

    Description

    This exceptional retail strip center, located at 31313 N Scottsdale Rd in Scottsdale, Arizona (zip code 85266), offers a total of 66,361 square feet of prime retail space. Currently, there are 2,756 square feet of vacant space available for lease, presenting a unique opportunity for expansion or new tenancy within a thriving established center. Situated in Maricopa County, this multi-tenant property boasts a highly visible location along Scottsdale Road, ensuring excellent exposure to a large customer base. The property's design and layout are ideal for a variety of retail businesses, offering flexibility and adaptability to suit diverse needs. The existing tenants contribute to a vibrant and successful shopping environment, creating a synergistic atmosphere that benefits all occupants. This is an excellent opportunity for businesses seeking a well-established location in a high-traffic area of Scottsdale. The property's strong location and existing infrastructure make it an attractive investment for both established businesses and new ventures looking to capitalize on the area's robust retail market. The available space is ready for immediate occupancy, allowing for a swift and efficient transition for new tenants. Detailed floor plans and lease terms are available upon request. Don't miss this chance to secure a prime retail space in one of Scottsdale's most desirable locations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,875,000
      6.5%
      $9,115,000
      7%
      $8,465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,800,000
      Market price range: $1.01M - $10.8M
      AI Estimate
      $10,515,000
      Market price range: $695k - $10.5M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $13,280,000
      RETAIL STORES
      $12,505,000
      AUTO REPAIR, GARAGE
      $11,190,000
      MEDICAL BUILDING
      $9,485,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.924
    Latitude
    33.769
    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
    2015
    $237,466
    $1,083,878
    $1,960,524
    $3,044,402
    -
    $6,134,000
    $10,891,800
    $17,025,800

    Comparable in this City

    • Value Estimation
      $3,795,000
      9,667 SF

      32531 Scottsdale Rd Ste, Unit 112

      SHOPPING CENTER, STRIP CENTER
      32531 Scottsdale Rd Ste, Scottsdale, AZ 85266-1519
      View Details
    • Value Estimation
      $2,135,000
      9,092 SF

      31309 Scottsdale Rd

      SHOPPING CENTER, STRIP CENTER
      31309 Scottsdale Rd, Scottsdale, AZ 85266-2703
      View Details
    • Value Estimation by Request
      190,611 SF

      Ashler Hills Dr

      Lifestyle centers
      0 Ashler Hills Dr, Scottsdale, AZ 85266
      View Details
    • Value Estimation
      $31,420,000
      126,694 SF

      32351 Scottsdale Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      32351 Scottsdale Rd, Scottsdale, AZ 85266-1513
      View Details
    • Value Estimation
      $3,745,000
      15,100 SF

      32337 Scottsdale Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      32337 Scottsdale Rd, Scottsdale, AZ 85266-1513
      View Details
    • Value Estimation
      $14,120,000
      50,981 SF

      34505 Scottsdale Rd

      MINI-MALL
      34505 Scottsdale Rd, Scottsdale, AZ 85266-1202
      View Details

    Similar Nearby for Sale

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      Scottsdale Buildable Acreage Homesite

      4.4 acre lot in prime location for custom build.
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      North Scottsdale Land Opportunity

      44.7 acres in North Scottsdale with development potential.
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      Nearly 3-acre homesite in guard-gated Whisper Rock Estates.
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    Similar Nearby for Lease

    • Contact for pricing
      1,080 SF

      Scottsdale Retail Space For Rent

      Retail space available in Scottsdale North Marketplace shopping center.
      31309 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • Contact for pricing

      Retail Space in Scottsdale Center

      Shopping center serving North Scottsdale, Cave Creek, and Carefree areas.
      32351 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • Contact for pricing
      3,600 SF

      Scottsdale Retail Space For Lease

      Retail space available in North Scottsdale's Terravita Marketplace.
      34482 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • Contact for pricing
      1,926 SF

      Retail Space Near Scottsdale Road

      Retail space available near Scottsdale Road and Carefree Highway.
      34422-34462 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Scottsdale, Arizona.
      31313 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • $24 SF/Yr

      Scottsdale Office Condo For Lease

      High-end office condo in North Scottsdale near amenities.
      33747 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
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    Scottsdale, AZ 85266
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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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