NOT LISTED FOR SALE

7223 E Shea Blvd Scottsdale, AZ 85260

McCormick Ranch Neighborhood

Estimated Value: $942,601

-- Bed
-- Bath
2,342 Sq Ft
$402/Sq Ft Est. Value

Last Sold March 08, 2024

Last sale price $950,000 $406 Per Sq Ft

Est. 1% decrease in value since last sale

Current estimated payment $5,191/month

367 Days on Market

Highlights

  • Central Air
  • Concrete Flooring
  • Heating Available
  • Cochise Elementary School Rated A

About This Home

As of March 2024

Opportunity to acquire 2340sf C3 building at the prestigious and very busy Scottsdale Rd and Shea Blvd intersection, SE corner, Shea frontage!

This property has been a restaurant, with a small patio and all FF&E's currently in, including freezers, full kitchen, furnishings convey!

Restaurant is undergoing a sewer line replacement and remodeling. Property being conveyed as is. Plans with City of Scottsdale currently.

Parking in this subdivision is not limited by HOA - over 1000 parking spaces serve the plaza!

With the C3 zoning, this space can be turned into nearly any use, from medical, to office, retail, etc! Can add a second level, doubling sf!!

Seller may carry with a large downpayment (i.e. 40%).

Last Agent to Sell the Property

Teo Cupes

Prestige Realty License #BR573968000 Listed on: 01/24/2023

Prestige Realty

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $3,031

Year Built

  • Built in 1970

Lot Details

  • 2,700 Sq Ft Lot
  • Property is zoned C-3

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 2,342 Sq Ft Home
  • Concrete Flooring

Parking

  • 1,088 Open Parking Spaces
  • 1,088 Parking Spaces
  • Private Parking

Utilities

  • Central Air
  • Heating Available

Community Details

  • Paradise Valley Plaza Subdivision
  • Operating Expense $6,079

Listing and Financial Details

  • Tax Lot 80
  • Assessor Parcel Number 175-33-079-A

Property Details

Property Type

Other

Est. Annual Taxes

$3,031

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Cross Street: Shea & Scottsdale Blvd
  • Legal Info Range: 4E
  • Property Type: Comm/Industry Sale
  • Zoning: C-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1970
  • Tax Year: 2022
  • Lot Size Acres: 0.06
  • Subdivision Name: PARADISE VALLEY PLAZA
  • Structure Type: Other (See Remarks), Commercial, Office
  • Tax Parcel Letter: A
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Concrete
  • Living Area: 2342.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: Brick
  • Roof: See Remarks

Garage/Parking

  • Parking Features: Private Parking
  • Attached Garage: No
  • Open Parking Spaces: 1088.0
  • Total Parking Spaces: 1088.0
  • General Property Description:Uncvrd Parking Spcs: 1088.0
  • General Property Description:Total Parking Spcs: 1088.0
  • Parking:Private Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Office A/C, Central A/C
  • Heating: Electric
  • Water Source: City Franchise
  • Heating:Electric: Yes

Lot Info

  • Lot Size Sq Ft: 2700.0
  • Parcel #: 175-33-079-A
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Annual Operating Expense: 6079.0
  • Vacancy Allowance Rate: 100.0

Tax Info

  • Tax Annual Amount: 3031.0
  • Tax Book Number: 175.00
  • Tax Lot: 80
  • Tax Map Number: 33.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 24, 2023
Closed on
Mar 21, 2024
Sold by
Paradise Valley Plaza Llc
Bought by
Vrd Holdings Llc
Seller's Agent
Teo Cupes
Prestige Realty
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$1,197,000
Sold Price
$950,000
Premium/Discount to List
-$247,000
-20.63%
Views
32
Current Estimated Value
$942,601

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$7,399
Avg. Annual Appreciation
-0.48%
Original Mortgage
$1,079,500
Outstanding Balance
$1,061,578
Interest Rate
6.64%
Mortgage Type
New Conventional
Estimated Equity
-$118,977

Purchase Details

Closed on
Jan 23, 2023
Sold by
Hodges Shea Blvd Property Llc
Bought by
Paradise Valley Plaza Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$343,000
Interest Rate
6.33%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 11, 2004
Sold by
Camara Olga
Bought by
Hodges Shea Blvd Property Llc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Vrd Holdings Llc $950,000 Great American Title Agency
Paradise Valley Plaza Llc $600,000 Great American Title
Hodges Shea Blvd Property Llc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Vrd Holdings Llc $1,079,500
Previous Owner Paradise Valley Plaza Llc $343,000
Closed Paradise Valley Plaza Llc $250,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/08/2024 03/08/24 Sold $950,000 -5.0% $406 / Sq Ft
01/25/2024 01/25/24 Pending -- -- --
11/30/2023 11/30/23 Price Changed $999,750 -8.9% $427 / Sq Ft
11/20/2023 11/20/23 Price Changed $1,097,000 -8.4% $468 / Sq Ft
08/17/2023 08/17/23 For Sale $1,197,000 0.0% $511 / Sq Ft
08/17/2023 08/17/23 Price Changed $1,197,000 0.0% $511 / Sq Ft
06/08/2023 06/08/23 Price Changed $1,197,000 0.0% $511 / Sq Ft
04/04/2023 04/04/23 Pending -- -- --
03/03/2023 03/03/23 Pending -- -- --
01/30/2023 01/30/23 Price Changed $1,197,000 +9.1% $511 / Sq Ft
01/23/2023 01/23/23 For Sale $1,097,000 -- $468 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,084 $43,675 -- --
2024 $3,103 $42,895 -- --
2023 $3,103 $84,983 $25,568 $59,415
2022 $3,031 $85,208 $17,500 $67,708
2021 $3,312 $83,088 $18,000 $65,088
2020 $3,283 $64,926 $13,428 $51,498
2019 $3,168 $58,590 $12,780 $45,810
2018 $3,068 $62,262 $12,726 $49,536
2017 $2,938 $57,978 $12,726 $45,252
2016 $2,881 $56,052 $13,878 $42,174
2015 $2,819 $33,319 $14,467 $18,852
Source: Public Records

Agents Affiliated with this Home

  • Teo Cupes

    Seller's Agent in 2024

    Teo Cupes

    Prestige Realty

    (480) 255-7327

    2 in this area

    56 Total Sales

    Teo Cupes
    Section Image

  • N

    Buyer's Agent in 2024

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6511211

Arizona Regional Multiple Listing Service (ARMLS)

APN: 175-33-079A

Arizona Maricopa County Scottsdale 85258 McCormick Ranch

7223 E Shea Blvd, Scottsdale, AZ

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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