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Property profile & analytics
OFF-MARKET
Estimated value
$30,905,000
Office Spaces
8521 Princess Dr, Scottsdale, AZ 85255-5980
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US07-1463615
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2000
Construction
CONCRETE
Total area
50,585 SF
Lot
4.69 ac (204,512 SF)
Zoning code
I-1
APN
215-07-212A
UPID
US07-1463615
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Steptoe & Johnson LLP Law Firm
-
Simplicty (Bike/Boat/Book/etc) Store Home Decor Store
-
Iron Mountain Data Centers AZS-1 Business To Business Service
-
Cyxtera Phoenix Data Center - PHX11 Business To Business Service
-
Hello Phoenix Telecommunications Service Business Service Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$30.91M
Owner & transaction history
Io Data Centers LLC · 8 yrs held
Io Data Centers LLC
since 2018
7 recorded transactions
Zoning & alternative use
I-1 · Scottsdale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$36.3M
+46.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Scottsdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Scottsdale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$24,740,000
Current use
RESTAURANT
$36,260,000
Change: +47% · Conversion: Difficult
RETAIL STORES
$23,295,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$20,845,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$30.91M
Range $27.81M – $34.00M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$611 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$157,930
Tax year 2023
Assessed value
$4,020,704
Assessed 2024
Previous assessed
$3,440,749
+16.9% YoY
Effective rate
3.93%
On assessed value
Land market value
$5,314,500
Improvement market value
$19,053,406
Total market value
$24,367,906
Applied tax rate
691,400.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2000
Construction
CONCRETE
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
2
Stories
1
Total area
50,585 SF
Lot
4.69 ac (204,512 SF)
Zoning code
I-1
APN
215-07-212A
UPID
US07-1463615
Jurisdiction
MARICOPA
Zoning & alternative use
I-1 · Scottsdale, AZ
Zoning I-1 · permitted uses
I-1 · Scottsdale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Scottsdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$24.7M
RESTAURANT
Est. value
$36.3M
RETAIL STORES
Est. value
$23.3M
AUTO REPAIR, GARAGE
Est. value
$20.8M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
2
Lot
4.69 ac
Current owner
From public records · entity-resolved
Io Data Centers LLC
Entity
Mailing address
615 N 48TH ST, PHOENIX, AZ 85008-6608
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2018
$35,625,000
Io Data Centers LLC
Dc-8521 East Princess Driv
Grant Deed
—
Oct 19, 2016
—
Io Capital Princess LLC
—
Deed
related
$600,000,000 · Wells Fargo Bk
Aug 27, 2014
$30,000,000
Dc-8521 East Princess Drive
Io Capital Princess LLC
Grant Deed
—
Aug 27, 2014
—
Io Capital Princess LLC
—
Grant Deed
related
$250,000,000 · Wells Fargo Bk
Apr 11, 2013
—
Io Capital Princess LLC
—
Deed Of Trust
related
$260,000,000 · Wells Fargo Bank
Oct 6, 2010
—
Io Capital Princess LLC
—
Deed Of Trust
related
$130,000,000 · Wells Fargo Bank
Oct 27, 2006
$13,500,000
Io Capital Princess LLC
Western United Life Assurance
Grant Deed
—
Jun 7, 2005
$13,500,000
United Life Assurance Western
First American Title Ins
Trustees Deed
related
—
Aug 17, 2001
—
Nasko Holdings LLC
—
Deed Of Trust
related
$9,000,000 · Metwest Mortgage Services INC
—
—
Io Capital Princess LLC
—
Deed Of Trust
related
$445,000,000 · Wells Fargo Bk
—
—
Io Capital Princess LLC
—
Deed Of Trust
related
$600,000,000 · Wells Fargo Bk
—
—
Io Capital Princess LLC
—
Deed Of Trust
related
$25,000,000 · Mutual Of Omaha Bank
—
—
Io Capital Princess LLC
—
Deed Of Trust
related
$30,000,000 · Mutual Of Omaha Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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