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Property profile & analytics
FOR LEASE
Medical Office Space
3226 N Miller Rd, Scottsdale, AZ 85251
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US07-3393877
For Lease
1 / 2
$28 SF/Yr
3226 N Miller Rd, Scottsdale, AZ 85251
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1977
Construction
CONCRETE
Total area
2,160 SF
Lot
0.73 ac (31,882 SF)
Zoning code
S-R
APN
130-20-008B
UPID
US07-3393877
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Stephen L. Nielson, DC Alternative Medicine Practice
-
Michael O'Connell PC Dental Office
-
The Skin Center Spa & Massage Center Alternative Medicine Practice
-
Restorative CBD Physician
-
Bartlett Marilyn Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.27M
Owner & transaction history
Monterey Advantage LLC · 6 yrs held
Monterey Advantage LLC
since 2019
4 recorded transactions
Zoning & alternative use
S-R · Scottsdale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.3M
+71.1%
Commercial (general)
$1.1M
+40.0%
Auto repair, garage
$890,000
+17.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Scottsdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Scottsdale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,290,000
Change: +71% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,055,000
Change: +40% · Conversion: Easy
AUTO REPAIR, GARAGE
$890,000
Change: +18% · Conversion: Difficult
OFFICE BUILDING
$815,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$588 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,133
Tax year 2023
Assessed value
$345,587
Assessed 2024
Previous assessed
$325,873
+6.0% YoY
Effective rate
3.80%
On assessed value
Land market value
$972,300
Improvement market value
$1,122,169
Total market value
$2,094,469
Applied tax rate
481,400.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
2,160 SF
Lot
0.73 ac (31,882 SF)
Zoning code
S-R
APN
130-20-008B
UPID
US07-3393877
Jurisdiction
MARICOPA
Zoning & alternative use
S-R · Scottsdale, AZ
Zoning S-R · permitted uses
S-R · Scottsdale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Scottsdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$890,000
OFFICE BUILDING
Est. value
$815,000
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
0.73 ac
Current owner
From public records · entity-resolved
Monterey Advantage LLC
Entity
Mailing address
20165 N 67TH AVE STE 122A, GLENDALE, AZ 85308-7155
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2019
$1,515,000
Monterey Advantage LLC
G4 Investments LLC
Warranty Deed
$792,242 · Umb Bank NA
Sep 22, 2006
$1,365,000
G4 Investments LLC
Vector Investments LLC
Grant Deed
$1,000,000 · Pinnacle Bank
Jul 31, 1995
—
Investments L L C Vector
Michael Giglio
Quit Claim Deed
related
—
Jul 31, 1995
$500,000
Giglio,michael S & Julie A
William D Daine Dds Ltd
Trustees Deed
$240,000 · Seller
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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