Rooftop Restaurant and
For Sale
$2,695,000
1515 Marlboro Dr, Lake Havasu City, AZ 86403
Commercial Sale, Lake Havasu City, AZ
Property Size7,125 SF
Lot Size0.06 Acres
Price / SF$378.25
Days on Market534
Property Features for 1515 Marlboro Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
L-C-1 Limited Commercial
Subdivision
Lake Havasu City
Directions
Hwy 95 where Mesquite turns into London Bridge Road, toward the Lake and turn right onto Marlboro Drive.
Standard status
Active
APN
107-07-100/099
Size
7,125 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
lake views
elevator
Building Details
Year built
1973
Floors in Building
2
Number of units
1
Listing Agency:
Mohave Realty
(928) 855-0101
Listed By:
Raul Ballas · License #SA677297000
(714) 686-0018
Added: Mar 24, 2025
Changed: Sep 5
Last Checked: Sep 8 at 7:06AM
MLS# 1034726
Copyright © 2026 Lake Havasu 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.
Investment Insights
Based on property information with market context.
This 7,125-square-foot restaurant and bar property includes rooftop space and multiple levels connected by elevator. The building was constructed in 1973 and is served by electric heating and cooling, with public water service. A Series 6 liquor license is available for inclusion with the property.
The site is positioned in Lake Havasu City with views toward the lake, London Bridge, and the Channel waterway. The rooftop setting supports restaurant, bar, and private-event operations, subject to applicable approvals and licensing requirements. The property occupies approximately 0.06 acres at 1515 Marlboro Dr.
The site is positioned in Lake Havasu City with views toward the lake, London Bridge, and the Channel waterway. The rooftop setting supports restaurant, bar, and private-event operations, subject to applicable approvals and licensing requirements. The property occupies approximately 0.06 acres at 1515 Marlboro Dr.
Key Highlights
- 7,125‑square‑foot rooftop restaurant and bar property
- Views of the lake, London Bridge, and Channel waterway
- Elevator access serves all levels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,935
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,798,700
$1.8M
Cap Rate 7%
$1,284,786
$1.3M
Cap Rate 9%
$999,278
$999.3K
Market Conditions
NOI Build-Up for 7,125 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$128.3K $18.00/SF
− Vacancy
−$8.3K −$1.17/SF
EGI
$119.9K $16.83/SF
− OpEx
−$30.0K −$4.21/SF
NOI
$89.9K $12.62/SF
Area
Mohave County, AZ
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,798,700
Cap Rate 7%
$1,284,786
Cap Rate 9%
$999,278
Alternative Uses
Best Use
Specialty Retail
$1.28M
$1.12M – $1.50M
NOI $89,935 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,355 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,529
Businesses Nearby
417k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 15%
Apparel 11%
Groceries 8%
In-N-Out Burger
Dining
39,494 visits/mo
0.1 miles
Ross Dress for Less
Apparel
35,975 visits/mo
0.3 miles
Safeway
Groceries
34,599 visits/mo
0.4 miles
McDonald's
Dining
24,894 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
22,167 visits/mo
0.3 miles
Demographics for 86403, AZ
17,787
Population
11,604
Households
1.5
Avg Household Size
53
Median Age
18%
College-Educated
89%
High-School Grad
11.0 sq mi
ZIP Area
1,617
Density / Sq Mi
$57,531
Median Household Income
$33,368
Median Earnings
$1,152
Median Rent
$313,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multi-level hospitality property with elevator access, lake views, and a Series 6 liquor license available for inclusion.
Where is this conventional restaurant located?
The property is located at 1515 Marlboro Dr Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: 7,125‑square‑foot rooftop restaurant and bar property; Views of the lake, London Bridge, and Channel waterway; Elevator access serves all levels
