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    Property profile & analytics

    6920 1st Ave Scottsdale, AZ 85251-4302

    • Office buildings
    • 1,372 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3491184
    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

    • Manifest / Gym & Fitness Center

    Property Details for 6920 1st Ave

    Year built
    1963
    Construction
    CONCRETE
    Lot size
    0.15 lot acres
    Property size
    1,372 SF
    Zone code
    C-2
    Property type
    Office buildings
    APN
    130-11-058
    APU
    13011058

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $771,000
      Market price range: $361k - $771k
      AI Estimate
      $761,000
      Market price range: $334k - $761k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $515,000
      Current use
      RETAIL STORES
      $820,000
      Change: +59% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $670,000
      Change: +30% Conversion: Easy
      AUTO REPAIR, GARAGE
      $565,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $480,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.932
    Latitude
    33.4942
    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
    $6,277
    $0.00
    $0.00
    $167,574
    -
    $654,100
    $361,500
    $1,015,600

    Comparable in this City

    • Value Estimation
      $630,000
      2,488 SF

      2935 67th Pl

      OFFICE BUILDING • 2,488 SF
      2935 67th Pl, Scottsdale, AZ 85251-6001
      View Details
    • Value Estimation
      $690,000
      1,366 SF

      7320 6th Ave

      OFFICE BUILDING • 1,366 SF
      7320 6th Ave, Scottsdale, AZ 85251-3402
      View Details
    • Value Estimation
      $6,200,000
      24,505 SF

      7154 Stetson Dr Ste, Unit 310

      OFFICE BUILDING • 24,505 SF
      7154 Stetson Dr Ste, Scottsdale, AZ 85251-3258
      View Details
    • Value Estimation
      $1,390,000
      5,500 SF

      3337 Miller Rd Ste, Unit 101

      OFFICE BUILDING • 5,500 SF
      3337 Miller Rd Ste, Scottsdale, AZ 85251-6436
      View Details
    • Value Estimation
      $1,390,000
      5,504 SF

      8111 Thomas Rd Ste, Unit 102

      OFFICE BUILDING • 5,504 SF
      8111 Thomas Rd Ste, Scottsdale, AZ 85251-5876
      View Details
    • Value Estimation
      $665,000
      1,280 SF

      7325 6th Ave

      OFFICE BUILDING • 1,280 SF
      7325 6th Ave, Scottsdale, AZ 85251-3401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,723 SF

      Old Town Scottsdale Office Building

      Office building in the heart of Old Town Scottsdale.
      4224 N Craftsman Ct, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      5,000 SF

      Scottsdale Office Building For Sale

      Opportunity Zone location near HonorHealth Scottsdale Osborn Hospital.
      7024 E Osborn Rd, Scottsdale, AZ 85251
      View Details
    • $2,495,000
      2,502 SF

      Old Town Scottsdale Office Building

      Two-story office building in the heart of Old Town Scottsdale.
      7505 E 6Th Ave, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      5,000 SF

      Scottsdale Office Building For Sale

      Old Town Scottsdale, 5,000 SF Office Building
      7024 Osborn Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Old Town Scottsdale Corner Location

      Prime corner location near Scottsdale Fashion Square and attractions.
      7101 E Indian School Rd, Scottsdale, AZ 85251
      View Details
    • $4,459,200
      7,432 SF

      Scottsdale Office Space Available

      Office property with 7,432 square feet of space.
      4330 N Civic Center Plz, Scottsdale, AZ 85251
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      23,905 SF

      Freestanding Building on Indian School

      Freestanding building with ample parking and great visibility.
      7631 E Indian School Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Office Building Near Scottsdale Stadium

      Office building available for rent near Scottsdale Stadium, April 2025.
      7550 E Main St, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Camelback Square

      Flexible workspace in Central Avenue
      6991 Camelback Rd, Scottsdale, AZ 85251
      View Details
    • $29 SF/Yr
      3,393 SF

      Old Town Scottsdale Office Space

      Move-in ready office space in the heart of Scottsdale.
      4220 N Brown Ave, Scottsdale, AZ 85251
      View Details
    • $24 SF/Yr
      2,759 SF

      Scottsdale Office Space For Rent

      Office space with covered parking near Old Town Scottsdale.
      7555 E Osborn Rd, Scottsdale, AZ 85251
      View Details
    • $34 SF/Yr

      Downtown Scottsdale Live/Work Office Space

      Single-tenant live/work office space in vibrant Downtown Scottsdale.
      6954 E 2Nd St, Scottsdale, AZ 85251
      View Details

    Property Visit Statistics

    • Visits by month
      14.3k
    • Visitors by month
      9.5k
    • Avg Time on site
      8 min
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    Scottsdale, AZ 85251-4302
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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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