8535 Hartford DrScottsdale, AZ 85255

Property Details for 8535 Hartford Dr

Year built

1997

Construction

STEEL FRAME

Lot size

1.96 AC

Property size (Sq ft)

22,996 SF

Zone code

I-1

Property type

Office properties

Property subtype

Office buildings

APN

215-07-001K

APU

21507001K

Description

This exceptional Class A medical office building, Coyote View Plaza, presents a rare investment opportunity in the highly desirable North Scottsdale submarket. Located at 8535 E. Hartford Dr, Scottsdale, AZ 85255, this two-story, 20,743 square foot property boasts a prime location at the signalized intersection of Bell Road and Perimeter Drive, just a half-mile from TPC Scottsdale and a quarter-mile from the Loop 101 Freeway. Built in 1997 and meticulously maintained, the building features six tenants with 100% occupancy, generating a strong NOI of $357,101 and a 6.21% cap rate. The asking price is $5,750,000, translating to $277.20 per square foot. Recent capital expenditures include exterior painting (March 2024), parking lot resurfacing (April 2024), sprinkler head replacement (March 2024), LED lighting upgrades (2021), and cooling tower improvements (2024). The roof was replaced in 2021 and is under an annual maintenance program. The property sits on a 1.96-acre lot and is zoned I-1. This stabilized investment offers a compelling return in a thriving market with high household incomes and home values within a three-mile radius. The building's strong tenant base and strategic location make it an ideal addition to any portfolio. This is a truly generational asset, never before offered for sale.

• CAP approach

  CAP return

  Valuation

  6%

  $6,742,014

  6.5%

  $6,223,397

  7%

  $5,778,868

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,187,438

  Geo Method

  $5,187,438

• Alternative Use

  Use

  Valuation

  Residential

  $7,717,012

  Hospitality

  $7,068,742

  Educational

  $5,881,110

  Medical

  $6,083,370

  Retail

  $9,148,393

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Latitude

33.6407

Longitude

-111.896

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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