Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8331 Monterey Way Scottsdale, AZ 85251-5937

    • Assisted living facilities
    • 2,456 SF
    • 0.20 lot acres
    OFF-MARKET
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2317570
    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

    • Assisted living facilities

    Property Details for 8331 Monterey Way

    Year built
    1962
    Construction
    CONCRETE BLOCKS
    Lot size
    0.20 lot acres
    Property size
    2,456 SF
    Zone code
    R1-7
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    130-36-095
    APU
    13036095

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $958,000
      Market price range: $527k - $958k
      AI Estimate
      $958,000
      Market price range: $527k - $958k

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $770,000
      Current use
      RETAIL STORES
      $1,470,000
      Change: +90% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,200,000
      Change: +56% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,010,000
      Change: +31% Conversion: Difficult
      OFFICE BUILDING
      $925,000
      Change: +20% Conversion: Difficult
      MEDICAL BUILDING
      $860,000
      Change: +11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsdale
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.902
    Latitude
    33.4854
    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
    $2,456
    $0.00
    $0.00
    $78,220
    -
    $156,400
    $625,800
    $782,200

    Comparable in this City

    • Value Estimation
      $9,245,000
      55,284 SF

      3327 Civic Ctr Plz

      HOMES (RETIRED, NURSING) • 55,284 SF
      3327 Civic Ctr Plz, Scottsdale, AZ 85251-6404
      View Details
    • Value Estimation
      $15,375,000
      111,837 SF

      3214 Miller Rd

      HOMES (RETIRED, NURSING) • 111,837 SF
      3214 Miller Rd, Scottsdale, AZ 85251
      View Details
    • Value Estimation
      $8,975,000
      23,006 SF

      3333 Civic Ctr Plz

      HOMES (RETIRED, NURSING) • 23,006 SF
      3333 Civic Ctr Plz, Scottsdale, AZ 85251-6413
      View Details
    • Value Estimation
      $9,615,000
      24,654 SF

      3339 Drinkwater Blvd

      HOMES (RETIRED, NURSING) • 24,654 SF
      3339 Drinkwater Blvd, Scottsdale, AZ 85251-6452
      View Details
    • Value Estimation
      $27,575,000
      71,985 SF

      6001 Thomas Rd

      HOMES (RETIRED, NURSING) • 71,985 SF
      6001 Thomas Rd, Scottsdale, AZ 85251-7511
      View Details
    • Value Estimation
      $545,000
      2,696 SF

      8704 Amelia Ave

      HOMES (RETIRED, NURSING) • 2,696 SF
      8704 Amelia Ave, Scottsdale, AZ 85251-5085
      View Details

    Similar Nearby for Sale

    • $1,250,000
      1,993 SF

      Scottsdale Assisted Living Conversion Opportunity

      Single-story Scottsdale property suitable for assisted living conversion.
      8719 E Columbus Ave, Scottsdale, AZ 85251
      View Details
    • $3,000,000
      114,119 SF

      Scottsdale Hyatt House Opportunity

      164-key extended-stay hotel in Scottsdale, Arizona for sale.
      4245 N Drinkwater Blvd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Scottsdale Land with Building Plans

      Land with approved plans for a three-story live/work property.
      7431 E 6Th Ave, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Scottsdale Land in Opportunity Zone

      Commercial land in Scottsdale's Old Town, near amenities and transportation.
      7532 E Mcknight Ave, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      6,685 SF

      Old Town Restaurant and Bar

      Fully built-out restaurant and bar with rooftop deck in Scottsdale.
      7341 E 6Th Ave, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Scottsdale Live/Work Development Opportunity

      Land with plans for a three-story live/work property.
      7431 E 6Th Ave, Scottsdale, AZ 85251
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Spaces Old Town Galleria

      Find fully flexible work and meeting space in Spaces Old Town Galleria
      4343 Scottsdale Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Scottsdale Innovation Hub Office Space

      Modern office space in a prime Scottsdale location for rent.
      6991 East Camelback Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing

      Flexible Workspace Solutions Available Now

      Global network of workspaces with tailored options for various needs.
      7150 East Camelback Rd, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      1,752 SF

      Old Town Scottsdale Retail Space

      Retail space in the heart of Scottsdale's Arts District.
      4164 N Marshall Way, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      13,139 SF

      Scottsdale Office Space Available

      Office space available for rent in Scottsdale, Arizona.
      3080 N Civic Center Plz, Scottsdale, AZ 85251
      View Details
    • Contact for pricing
      2,067 SF

      Scottsdale Mixed-Use Retail/Office Space

      Rare mixed-use property near Scottsdale Stadium and Old Town.
      4032 N Miller Rd, Scottsdale, AZ 85251
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8331 Monterey Way
    Scottsdale, AZ 85251-5937
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!