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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7236 1st Ave Scottsdale, AZ 85251-4445

    • Strip malls
    • 8,510 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Sep 22, 2021
    $3,433,500
    Value Estimations
    $2,990,000
    Show details
    Cap Rate Potential
    8.3%
    Strip malls
    Location Intelligence
    Property ID
    US07-2879880
    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

    • American Leather Company Maker of Fine Belts / Clothing Store / Leather Goods Store
    • Four Tribes Trading / Jewelry Store
    • Retablo / Rustic Furniture Store
    • Silver Kiva Inc / Jeweler
    • Deleon / Jeweler

    Property Details for 7236 1st Ave

    Year built
    1938
    Construction
    CONCRETE
    Lot size
    0.13 lot acres
    Property size
    8,510 SF
    Zone code
    C-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    130-23-014
    APU
    13023014

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,095,000
      6.5%
      $2,855,000
      7%
      $2,655,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,840,000
      Current use
      COMMERCIAL (GENERAL)
      $4,160,000
      Change: +126% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,505,000
      Change: +90% Conversion: Difficult
      OFFICE BUILDING
      $3,205,000
      Change: +74% Conversion: Moderate
      MEDICAL BUILDING
      $2,975,000
      Change: +61% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.925
    Latitude
    33.4943
    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
    2022
    $6,588
    $0.00
    $0.00
    $215,441
    -
    $513,000
    $792,700
    $1,305,700

    Comparable in this City

    • Value Estimation
      $765,000
      6,728 SF

      Scottsdale, AZ 85251

      SHOPPING CENTER, STRIP CENTER • 6,728 SF
      Scottsdale, AZ 85251
      View Details
    • Value Estimation
      $1,990,000
      6,394 SF

      3370 Hayden Rd

      SHOPPING CENTER, STRIP CENTER • 6,394 SF
      3370 Hayden Rd, Scottsdale, AZ 85251-6632
      View Details
    • Value Estimation
      $560,000
      2,080 SF

      7112 Thomas Rd

      SHOPPING CENTER, STRIP CENTER • 2,080 SF
      7112 Thomas Rd, Scottsdale, AZ 85251
      View Details
    • Value Estimation
      $4,545,000
      18,695 SF

      4545 Scottsdale Rd

      SHOPPING CENTER, STRIP CENTER • 18,695 SF
      4545 Scottsdale Rd, Scottsdale, AZ 85251-7636
      View Details
    • Value Estimation
      $1,115,000
      3,280 SF

      3940 Miller Rd

      SHOPPING CENTER, STRIP CENTER • 3,280 SF
      3940 Miller Rd, Scottsdale, AZ 85251-4539
      View Details
    • Value Estimation
      $1,075,000
      2,739 SF

      4416 Miller Rd

      SHOPPING CENTER, STRIP CENTER • 2,739 SF
      4416 Miller Rd, Scottsdale, AZ 85251-3640
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      29,731 SF

      Mixed-Use Destination in Old Town

      Mixed-use property with retail, dining, and luxury residences.
      Nwc Indian School Rd & Goldwater Blvd, Scottsdale, AZ 85251
      View Details
    • $4,000,000
      5,723 SF

      Prime Scottsdale Retail/Office Space

      Old Town Scottsdale Retail Opportunity, 5,723 SF
      4224 Craftsman Ct, Scottsdale, AZ 85251
      View Details
    • $7,840,000
      9,551 SF

      Barstool Sports Investment Opportunity

      NNN leased Barstool Sports bar/restaurant/nightclub in Old Town Scottsdale.
      4321 N Scottsdale Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      7,825 SF

      Old Town Scottsdale Mixed-Use Building

      Premier mixed-use building in the heart of Old Town Scottsdale.
      4238 N Craftsman Ct, Scottsdale, AZ 85251
      View Details
    • $1,300,000
      16,960 SF

      Scottsdale Restaurant Redevelopment

      Prime Scottsdale location, vacant, 16,960 SF.
      3030 68Th St, Scottsdale, AZ 85251
      View Details
    • $1,300,000
      2,627 SF

      Retail Building in Scottsdale, Arizona

      Retail building with 2,627 square feet available for sale.
      3030 N 68Th St, Scottsdale, AZ 85251
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      92,226 SF

      Retail Space in Scottsdale Center

      Retail space available in Scottsdale, close to Old Town.
      Nec Indian School & Miller Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Scottsdale Fashion Square Offices

      Premium office leasing opportunity in the heart of Scottsdale, Arizona.
      7150 E Camelback Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      15,176 SF

      Old Town Scottsdale Retail Opportunity

      Mixed-use destination with retail, dining, and luxury residences.
      4110 N Goldwater Blvd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      1,780 SF

      Retail Space in Scottsdale Center

      Retail space available in future Whole Foods anchored Scottsdale center.
      7620 E Indian School Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      8,936 SF

      Retail Space in Scottsdale Center

      Retail spaces available in future Whole Foods anchored Scottsdale center.
      7624 E Indian School Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      2,130 SF

      Retail Space in Old Town

      Prime location with national co-tenants and high traffic.
      3310 N Hayden Rd, Scottsdale, AZ 85251
      View Details
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    7236 1st Ave
    Scottsdale, AZ 85251-4445
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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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