10001 92Nd StScottsdale, AZ 85258

Property Details for 10001 92Nd St

Year built

1997

Construction

STEEL FRAME

Lot size

7.44 AC

Property size (Sq ft)

112,491 SF

Zone code

C-O

Property type

Office buildings

APN

217-36-160A

APU

21736160A

Description

This exceptional 116,200-square-foot, two-story Class A medical office building presents a unique redevelopment opportunity in Scottsdale, Arizona. Situated on a substantial 7.44-acre lot at 10001 N 92nd St, 85258, this vacant property boasts timeless architecture with a red brick exterior, tinted spandrel glass, and seven second-floor balconies offering stunning McDowell Mountain views. The building, constructed in 1997, features ample parking with a 5.47 spaces per 1,000 square feet ratio, including surface parking and a two-level detached structure. Its prime location directly across from the HonorHealth Shea Medical Center (a 433-bed facility) within a thriving Scottsdale office submarket (nearly 1 million square feet of gross leasing activity in 2023) offers unparalleled potential. The property is currently a "blank slate," having been recently returned to shell condition, allowing for the creation of a state-of-the-art medical or general office space. Fully permitted plans with the City of Scottsdale are included, encompassing common area upgrades, exterior enhancements, restroom improvements, spec suites, an exterior lounge, and a coffee bar. Conveniently located near abundant walkable retail amenities, including a Sprouts Farmers Market, and with easy access to two Loop 101 Freeway interchanges, this property offers exceptional visibility and accessibility. The C-O zoning allows for diverse uses, including general office, veterinary hospital, daycare center, school, health and fitness facilities, and medical labs. The asking price is $14,525,000 ($125 per square foot). APN: 217-36-160A.

• CAP approach

  CAP return

  Valuation

  6%

  $35,660,992

  6.5%

  $32,917,840

  7%

  $30,566,564

• Comparable approach

  Method

  Valuation

  Relative Method

  $25,375,720

  Geo Method

  $25,375,720

• Alternative Use

  Use

  Valuation

  Residential

  $40,818,120

  Hospitality

  $37,389,180

  Educational

  $31,107,358

  Medical

  $32,177,188

  Retail

  $48,389,224

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Latitude

33.5766

Longitude

-111.879

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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