Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    1221 E 3rd Street Winslow, AZ 86047

    View on Map
    Claim this Listing
    For Sale
    $1,590,000

    COMMERCIAL - Winslow, AZ

    Property size:
    10,408 SF
    Lot size:
    0.53 Acres
    Price / SF:
    $152/SF
    Added:
    Jun 1, 2025
    Days on Market:
    342
    Last Refresh:
    May 8 at 6:06 am

    Property Features for 1221 E 3rd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    10334003b
    Size
    10,408 SF
    Lot size
    0.53 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    2695

    Utilities

    Utilities
    Cable Available
    Heating system
    Electric (Heating), Natural Gas
    Cooling system
    Multi Units

    Building Details

    Year built
    1962
    Floors in Building
    2
    Roof type
    Flat

    We can help!

    Listing Contact
    Michelle M Linton

    Listing agent Michelle M Linton

    Listing office Linton Real Estate 304 S Elden St., AZ

    Listing date Jun 1, 2025

    MLS# 200996

    Copyright © 2026 Northern Arizona Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Stabilized, fully leased multifamily investment property.
    • Opportunity for long‑term rent growth through repositioning to market rates.
    • 25 units across two contiguous apartment complexes.
    • Upgraded with completed capital improvements.
    • Cash‑flowing asset.
    • Located in the heart of Winslow, Arizona.

    Overview

    Winslow Multifamily Investment Opportunity

    The College View Apartments, located in Winslow, Arizona, presents a multifamily investment opportunity. The property consists of two contiguous apartment complexes totaling 25 units situated on two parcels. The property is fully leased. The property has undergone capital improvements. The property size is 10408 square feet and the lot size is 0.53 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Winslow
    County
    Navajo
    State
    Arizona
    Longitude
    -110.685664
    Latitude
    35.01933

    Nearby Similar for Sale

    • $275,000
      2,330 SF

      Winslow Commercial Space For Sale

      Large commercial space with office and workspace on 1.03 acres.
      3005 W Third Street, Winslow, AZ 86047
      View Details
    • $275,000
      6,318 SF

      Winslow Commercial Building on First

      Historic 6,318 sq ft commercial building in downtown Winslow.
      208 W First Street, Winslow, AZ 86047
      View Details
    • $190,000
      1,792 SF

      Winslow Commercial Warehouse on Route 66

      Versatile commercial warehouse on historic Route 66, Winslow, Arizona.
      310 W First Street, Winslow, AZ 86047
      View Details
    • $699,000
      6,397 SF

      Winslow Special-Use Property For Sale

      74.62-acre property with flexible infrastructure and panoramic views.
      229 AZ-99, Winslow, AZ 86047
      View Details
    • $975
      1,504 SF

      Winslow Commercial Space For Lease

      1,504 sq ft commercial space in Winslow, Arizona.
      1301 W Second Street, Winslow, AZ 86047
      View Details
    • $1,590,000
      5,984 SF

      Winslow Multifamily Investment Opportunity

      Stabilized, upgraded 25-unit multifamily property in Winslow, Arizona.
      1221 E 3rd Street, Winslow, AZ 86047
      View Details
    • $750,000

      Former Police Building in Winslow

      Old police building on corner of 2nd and Hwy 87.
      115 E 2nd Street, Winslow, AZ 86047
      View Details

    FAQs

    What type of property is this?
    Apartment building - Stabilized, upgraded 25-unit multifamily property in Winslow, Arizona.
    Where is this apartment building located?
    The property is located at 1221 E 3rd Street Winslow, AZ.
    What is the asking price?
    The asking price for this property is $1,590,000.
    What are key features of this property?
    This property features: Stabilized, fully leased multifamily investment property.; Opportunity for long‑term rent growth through repositioning to market rates.; 25 units across two contiguous apartment complexes.
    (928) 600-3974
    We can help!
    Listing Contact
    Michelle M Linton
    Learn More
    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.
    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

    Thank You for Inquiry
    1221 E 3rd Street, Winslow, AZ 86047
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!