Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1448 S Adair Drive Pinetop, AZ 85935

    View on Map
    New
    For Sale
    $345,000

    COMMERCIAL - Pinetop, AZ

    Property size:
    1,020 SF
    Lot size:
    1.29 Acres
    Added:
    Mar 27, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 1 at 8:06 am

    Property Features for 1448 S Adair Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    311-30-023A
    Size
    1,020 SF
    Lot size
    1.29 Acres

    Taxes and HOA fees

    TaxDescription
    Lawrence Doud Subd: Tract A, Lots 28 & 37 Per Plat 13-27 Also 15'Adj Abondoned Street Less W 16.58' For Roadway Out Of 211-30-022& 023 For05
    TaxAnnualAmount
    1294

    Building Details

    Year built
    1956

    We can help!

    Listing Contact
    Lansten Flake

    Listing agent Lansten Flake

    Listing office West USA Realty - Pinetop 2482 E White Mountain Blvd Ste B, Phoenix, AZ

    Listing date Mar 27, 2026

    MLS# 260255

    Copyright © 2026 White Mountain Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Pinetop Multifamily Development Opportunity

    This 1.29-acre parcel is planned for a 26-unit apartment complex, presenting a development opportunity in a desirable location. The property is situated minutes from restaurants, shopping, and everyday conveniences. It is suited for developers or investors interested in a multifamily project. Currently, there is a 1,020 sq ft home on the property, which is being sold AS-IS. The buyer is responsible for verifying all plans, approvals, utilities, and other relevant details.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pinetop
    County
    Navajo
    State
    Arizona
    Longitude
    -109.938017
    Latitude
    34.12668

    Nearby Similar for Sale

    • $890,000
      4,455 SF

      Pinetop Commercial Property For Sale

      Income-producing property with highway frontage in the heart of Pinetop.
      747 & 759 E White Mountain Boulevard, Pinetop, AZ 85935
      View Details
    • $825,000
      1,130 SF

      Turnkey Restaurant and Beer Garden

      Restaurant and beer garden with highway frontage in Pinetop, Arizona.
      2044 E White Mountain Boulevard, Pinetop, AZ 85935
      View Details
    • $2,198,000
      7,944 SF

      Turn-Key Motel in Pinetop, AZ

      23-room motel with owner's suite and activity center.
      2089 E White Mountain Boulevard, Pinetop, AZ 85935
      View Details
    • $389,000

      Pinetop Land in Sierra Springs

      Residential land in a luxury mountain community near national forest.
      9592 Sierra Springs Drive, Pinetop, AZ 85935
      View Details
    • $249,000

      Pinetop Heavily Treed Level Lot

      Level lot with utilities ready for mountain living.
      7466 Buck Springs Road, Pinetop, AZ 85935
      View Details
    • $468,850

      Pinetop Land Parcel For Sale

      Four-acre parcel in Pinetop, Arizona, suitable for residential development.
      4 Acres E Osprey Lane, Pinetop, AZ 85935
      View Details
    • $200,000

      Commercial Land in Downtown Pinetop

      Prime commercial land opportunity in the heart of downtown Pinetop.
      E White Mountain Boulevard, Pinetop, AZ 85935
      View Details
    • $148,000

      Residential Land in Pinetop, Arizona

      Land with utilities and recreation center membership available.
      3430 Blacksmith Trail, Pinetop, AZ 85935
      View Details
    • $125,000

      Ready-to-Build Homesite in Pinetop, AZ

      Homesite with septic, electricity, and permitted cabin plans.
      108 W Skyhawk Road, Pinetop, AZ 85935
      View Details
    • $130,000

      Pinetop Mountain Homesite Opportunity

      0.33-acre corner lot in Pinetop Lakes Country Club.
      4250 Branding Iron Loop, Pinetop, AZ 85935
      View Details
    • $132,500

      Pinetop Corner Lot with Views

      Corner lot with golf course views in Pinetop, Arizona.
      3795 Mogollon Vista Drive, Pinetop, AZ 85935
      View Details
    • $50,000

      Pinetop Land in Pinetop Lakes

      Level, treed lot in Pinetop Lakes with recreation center.
      4063 Bridle Path Circle, Pinetop, AZ 85935
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.29 acre parcel planned for 26 apartment units.
    Where is this residential land & home lot located?
    The property is located at 1448 S Adair Drive Pinetop, AZ.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: 1.29 acre parcel planned for 26 apartment units.; Rare development opportunity in a highly desirable location.; Minutes from restaurants, shopping, and everyday conveniences.
    (928) 243-3819
    We can help!
    Listing Contact
    Lansten Flake
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!