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

    198 N CHISHOLM Avenue Miami, AZ 85539

    View on Map
    For Sale
    $750,000

    MULTI_FAMILY - Miami, AZ

    Added:
    Jul 10, 2024
    Days on Market:
    630
    Last Refresh:
    Mar 31 at 6:06 pm

    Property Features for 198 N CHISHOLM Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    0310
    Exterior features
    Sidewalk(s)
    Appliances
    Free-Standing Range, Microwave, W/D Hookup
    Standard status
    Active
    APN
    206-18-032-C

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    LOTS 55,57,59 RED SPRINGS ADD PER PLAT 34;SEC 30 T1N R15E; = 0.21 AC M/L COMB PCLS 206-18-031,032A,0
    TaxAnnualAmount
    1096

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Multi Units, Ceiling Fan(s), Central Air

    Building Details

    Year built
    1950
    Number of units
    6
    Flooring type
    Carpet, Tile - Ceramic, Vinyl
    Building materials
    Painted, Block
    Roof type
    Foam

    We can help!

    Listing Contact
    Joshua Asanovich

    Listing agent Joshua Asanovich License #SA629833000

    Listing office Keller Williams Realty Phoenix 6400 E McDowell Rd Suite 160, Tempe, AZ

    Listing date Jul 10, 2024

    MLS# 6729359 Listing URL

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

    Overview

    Historic Multifamily Property in Miami

    This European-style property, known as 'The Copper Miners Rest', features three unique upstairs guest rooms and a studio apartment. Guests have access to a spacious sitting room, a large bathroom with a shower, and kitchen facilities. The bottom level includes a generous business suite with the potential for an additional dwelling unit, complete with a full kitchen and bathroom. A detached three-bedroom, one-bath casita serves as the sixth dwelling unit on the property. Listed on the National Register of Historic Places as 'The Soderman Building,' the property offers authentic miners' boarding rooms and a serene atmosphere. Fully renovated, this multifamily property in Miami, Arizona, is ready for various uses.
    Location Intelligence

    Current Use by Public Records

    Copper Miners' Rest Bed & Breakfast

    Suggested Use

    Restaurant Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Accounting Firm Auto Parts Store Department Store Bar & Pub Grocery & Convenience Store

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

    Similar Places Nearby

    • Copper Miners' Rest — 198 Chisholm Ave, Miami, AZ 85539

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Gila
    State
    Arizona
    Longitude
    -110.872599
    Latitude
    33.398969

    Nearby Similar for Sale

    • $297,000
      2,340 SF

      Highway 60 Frontage Commercial Building

      Commercial building with highway frontage, prime visibility, and easy access.
      3499 Highway 60 E, Miami, AZ 85539
      View Details
    • $274,000
      1,233 SF

      C2 Zoned Live/Work Property

      C2 Zoned Live/Work Property with Highway 60 Frontage.
      52116 N Hutton Peak Rd, Miami, AZ 85539
      View Details
    • Contact for pricing
      475 SF

      Commercial Space in High-Traffic Area

      Move-in ready retail or office space with excellent visibility.
      144 N Miami Ave, Miami, AZ 85539
      View Details
    • $185,000
      1,848 SF

      Historic Gem on Miami Avenue

      Former grocery store with retail space and income potential.
      180 N Miami Ave, Miami, AZ 85539
      View Details
    • $170,000
      3,619 SF

      Former VFW Building For Sale

      Former VFW building with full kitchen, bar, and bathrooms.
      195 N KEYSTONE Avenue, Miami, AZ 85539
      View Details
    • $110,000
      3,750 SF

      Versatile Building with Open Spaces

      Adaptable building featuring wide open spaces ready for customization.
      136 N MIAMI Avenue, Miami, AZ 85539
      View Details
    • $111,500
      1,866 SF

      Warehouse Space Ready For Sale

      Warehouse property with ample storage space, available for purchase.
      159 N KEYSTONE Avenue, Miami, AZ 85539
      View Details

    FAQs

    What type of property is this?
    Bed & breakfast - European-style multifamily property with historic charm and modern amenities.
    Where is this bed & breakfast located?
    The property is located at 198 N CHISHOLM Avenue Miami, AZ.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Six dwelling units including 3 guest rooms, a studio apartment, a business suite with potential for an additional dwelling unit, and a detached three‑bedroom casita.; Listed on the National Register of Historic Places as ''The Soderman Building''.; **Fully renovated property ready for immediate use.**
    (480) 518-0286
    We can help!
    Listing Contact
    Joshua Asanovich
    Real Estate License ID: SA629833000
    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!