Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    31313 Scottsdale Rd Scottsdale, AZ 85266-2995

    • Grocery and convenience stores
    • 27,756 SF
    • 9.40 lot acres
    OFF-MARKET
    Last Sale
    Aug 06, 2024
    $23,000,000
    Value Estimations
    $23,000,000
    Show details
    Cap Rate Potential
    2.8%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US07-2373598
    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

    • Club Pilates / Pilates Studio
    • Uncle Louie The Restaurant / Pizza Restaurant / Bar
    • KidStrong North Scottsdale / Physical Fitness Program / Education Center
    • Health Cellutions / Physical Fitness Program / Health Consultant
    • Baron Paris / Handbags Shop

    Property Details for 31313 Scottsdale Rd

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    9.40 lot acres
    Property size
    27,756 SF
    Zone code
    PCC
    Property type
    Grocery and convenience stores
    APN
    216-66-806
    APU
    21666806

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $23,000,000
      ML approach
      $23,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,819,000
      Market price range: $7.22M - $21.8M
      AI Estimate
      $21,150,000
      Market price range: $6.55M - $21.6M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $19,895,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.924
    Latitude
    33.7689
    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
    $112,308
    $0.00
    $0.00
    $2,292,638
    -
    $5,221,400
    $8,787,300
    $14,008,700

    Comparable in this City

    • Value Estimation
      $13,940,000
      47,388 SF

      34442 Scottsdale Rd

      GROCERY, SUPERMARKET • 47,388 SF
      34442 Scottsdale Rd, Scottsdale, AZ 85266-1229
      View Details
    • Value Estimation by Request
      10,452 SF

      Scottsdale Rd & Lone Mtn Dr

      Individual retail properties • 10,452 SF
      0 Scottsdale Rd & Lone Mtn Dr, Scottsdale, AZ 85266
      View Details
    • Value Estimation
      $2,435,000
      5,000 SF

      33703 Scottsdale Rd

      FINANCIAL BUILDING • 5,000 SF
      33703 Scottsdale Rd, Scottsdale, AZ 85266-1546
      View Details
    • Value Estimation
      $12,410,000
      15,866 SF

      34422 Scottsdale Rd Ste, Unit 100

      DRUG STORE, PHARMACY • 15,866 SF
      34422 Scottsdale Rd Ste, Scottsdale, AZ 85266-4213
      View Details
    • Value Estimation
      $2,090,000
      2,688 SF

      31307 Scottsdale Rd

      FINANCIAL BUILDING • 2,688 SF
      31307 Scottsdale Rd, Scottsdale, AZ 85266-2702
      View Details
    • Value Estimation
      $2,995,000
      3,831 SF

      7525 Clubhouse Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,831 SF
      7525 Clubhouse Rd, Scottsdale, AZ 85266
      View Details

    Similar Nearby for Sale

    • $695,000
      2,137 SF

      Scottsdale Office Condo For Sale

      Office condo in North Scottsdale near amenities.
      33747 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • New
      $625,000
      1.67 Acres

      Scottsdale Land with Mountain Views

      Desirable 1.67-acre lot ready for dream home construction.
      30600 N Pima Rd, Scottsdale, AZ 85266
      View Details
    • $1,262,000
      6,267 SF

      Scottsdale Office Building For Sale

      6,267 SF Vacant Office, Prime Location
      33725 Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • $235,000
      2.50 Acres

      Scottsdale Land with Mountain Views

      2.5 acres to build a custom home near Granite Mountain.
      138xx E Dove Valley Rd, Scottsdale, AZ 85266
      View Details
    • $1,100,000
      9.70 Acres

      Scottsdale Land with Mountain Views

      10-acre Scottsdale land parcel with utilities and subdivision potential.
      8035 E Lone Mountain Rd, Scottsdale, AZ 85266
      View Details
    • $1,895,000
      2.63 Acres

      Scottsdale Land Opportunity

      2.63 acre residential land in Scottsdale, Arizona.
      8580 E Artisan Pass Pass, Scottsdale, AZ 85266
      View Details

    Similar Nearby for Lease

    • 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
      1,080 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
      1,486 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
      78,664 SF

      Retail Shops For Lease

      Retail spaces available in North Scottsdale shopping center.
      32551 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • Contact for pricing
      2,792 SF

      Retail Space in Scottsdale Center

      Retail space available in North Scottsdale shopping center.
      32409 N Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    • Contact for pricing
      66,361 SF

      Scottsdale Retail Center Investment

      Prime Scottsdale Retail Strip Center
      31313 Scottsdale Rd, Scottsdale, AZ 85266
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    31313 Scottsdale Rd
    Scottsdale, AZ 85266-2995
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.