4238 N Craftsman Ct, Unit | Scottsdale Scottsdale, AZ 85251

Property Details for 4238 N Craftsman Ct

Year built

1973

Construction

CONCRETE

Lot size

0.08 lot acres

Property size

1,413 SF

Zone code

C-2

Property type

Retail space

APN

173-50-009A

APU

17350009A

Description

This exceptional Class A mixed-use property, located at 4238 N Craftsman Ct, Scottsdale, AZ 85251, presents a rare investment opportunity in the heart of Old Town Scottsdale. The 7,825 square foot building, constructed in 2022, features a 3-story design with six residential units and ground-level retail space, currently operating at 100% occupancy. The property boasts high-end finishes, including walkout balconies on east-facing units, and offers four parking spaces. Zoned C-2, the property sits on a 3,354 square foot lot. The current lease is a gross lease with a remaining term of three years (commencing December 1, 2022, and expiring November 30, 2027), featuring rent bumps. The asking price is $5,850,000, representing a price per square foot of $747.60 and a 4.56% cap rate. The Net Operating Income (NOI) is $266,720. This prime location is within walking distance of numerous retail and restaurant amenities, including the Valley Ho hotel, Scottsdale Stadium, Fashion Square Mall, and the Kimsey Project. The property offers the potential for continued success as a short-term rental or long-term residential rental. This is a truly unique opportunity to acquire a high-performing asset in one of Scottsdale's most desirable locations. The property's APN is 173-50-009A.

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Longitude

-111.928

Latitude

33.4975

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments