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

    7520 2nd St Scottsdale, AZ 85251-4532

    • Parking lots & garages
    • 18,352 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Nov 19, 2020
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0864074
    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

    • Tasty Pet / Food Processing Plant
    • Glassman Joel B PhD / Physician / Medical Clinic
    • Farmers Insurance - Steven Panowyk / Insurance Agency
    • Co Creative Labs / Advertising Agency / Marketing & Advertising
    • Mullins Creative Inc / Marketing & Advertising / Advertising Agency

    Property Details for 7520 2nd St

    Year built
    2021
    Lot size
    0.77 lot acres
    Property size
    18,352 SF
    Zone code
    D/OR-2
    Property type
    Parking lots & garages
    APN
    130-25-152
    APU
    13025152

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $611,000
      Market price range: $228k - $612k
      AI Estimate
      $609,000
      Market price range: $220k - $609k

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $405,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.919
    Latitude
    33.4915
    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
    $34,039
    $0.00
    $0.00
    $1,048,951
    -
    $2,742,000
    $7,747,511
    $10,489,511

    Comparable in this City

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      131,836 SF

      7143 5th Ave

      PARKING GARAGE, PARKING STRUCTURE • 131,836 SF
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      View Details
    • Value Estimation
      $4,525,000
      136,025 SF

      6835 Camelback Rd

      PARKING GARAGE, PARKING STRUCTURE • 136,025 SF
      6835 Camelback Rd, Scottsdale, AZ 85251-3119
      View Details
    • Value Estimation
      $2,985,000
      89,760 SF

      3888 Wls Fargo Ave

      PARKING GARAGE, PARKING STRUCTURE • 89,760 SF
      3888 Wls Fargo Ave, Scottsdale, AZ 85251
      View Details
    • Value Estimation
      $920,000
      27,725 SF

      3801 Goldwater Blvd

      PARKING GARAGE, PARKING STRUCTURE • 27,725 SF
      3801 Goldwater Blvd, Scottsdale, AZ 85251-5591
      View Details
    • Value Estimation by Request
      1.66 Acres

      7113 Angus Dr

      PARKING LOT • 1.66 Acres
      7113 Angus Dr, Scottsdale, AZ 85251-6322
      View Details
    • Value Estimation
      $11,680,000
      351,000 SF

      4710 Goldwater Blvd, Unit 4

      PARKING GARAGE, PARKING STRUCTURE • 351,000 SF
      4710 Goldwater Blvd, Scottsdale, AZ 85251
      View Details

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      Retail building with 2,627 square feet available for sale.
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      Old Town Restaurant and Bar

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      Retail and Dining Space Available

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      Retail Space in Prime Location

      Retail space available in high-traffic Scottsdale location.
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      Scottsdale Fashion Square Offices

      Premium office leasing opportunity in the heart of Scottsdale, Arizona.
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    • Contact for pricing
      8,933 SF

      Downtown Scottsdale Retail Spaces

      Prime Scottsdale location, two suites available
      7628 Indian School Rd, Scottsdale, AZ 85251
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    7520 2nd St
    Scottsdale, AZ 85251-4532
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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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