Sign Up Successful!
You now have access to more from Realmo!
    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

    29923 N 223Rd Ave, Unit 4 Wittmann, AZ 85361

    Sponsored
    For Sale
    $85,000

    LAND - Wittmann, AZ

    Lot size:
    1.00 Acre
    Days on Market:
    52
    Last Refresh:
    Jan 26 at 1:06 am

    Property Features for 29923 N 223Rd Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RU-43
    APN
    503-37-005-M
    Lot size
    1.00 Acre

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Melanie A Lakovich
    Melanie A Lakovich

    HomeSmart (602) 230-7600

    Listing agent Melanie A Lakovich (602) 803-1237

    Listing date Dec 6, 2025

    MLS# 6941768 Listing URL

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Acre of Freedom Awaits

    This one-acre property offers an opportunity to build a custom home or place a manufactured home. The land is located approximately 1/6 mile from a paved road, providing convenient access while maintaining a secluded atmosphere. A new well has been drilled on the property. The land is not located in a flood zone and has no CC&R or APZ restrictions. The property allows for various building options, including tiny homes, family estates, workshops, and guest houses. It is located minutes from the new school and within an easy commute to the growing employment centers along SR-74 & 303. The zoning is RU-43.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Auto Repair Shop HVAC Service Garden Center Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Wittmann
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.54102
    Latitude
    33.755247

    Nearby Similar for Sale

    • New
      $175,000
      30.00 Acres

      30-Acre Ranch in Wittmann, AZ

      30-acre ranch opportunity near the I-11 corridor in Wittmann, Arizona.
      W Dove Valley Rd, Wittmann, AZ 85361
      View Details
    • $269,900
      1,475 SF

      Updated Move-In Ready Home

      Updated 3-bedroom, 2-bathroom home with modern features and spacious layout.
      22330 W Harmony St, Wittmann, AZ 85361
      View Details
    • $549,500

      Wittmann Horse Property with Arena

      Horse property featuring arena, pens, RV hookups, and storage.
      19019 W Roadrunner Rd, Wittmann, AZ 85361
      View Details
    • $1,500,000
      3,155 SF

      Assisted Living Home, Arizona

      Turnkey Assisted Living Facility, 9 Units
      28428 Rambling Rock Ct, Wittmann, AZ 85361
      View Details

    FAQs

    What type of property is this?
    Land - Acre of open land ready for your dream home!
    Where is this land located?
    The property is located at 29923 N 223Rd Ave, Unit 4 Wittmann, AZ.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - One acre of open land, ready for building a custom home or placing a manufactured home.; - New well already drilled.; - No Flood zone, CC&Rs, or APZ restrictions, offering building flexibility.
    (602) 803-1237
    Request Owner's contact information
    29923 N 223Rd Ave, Unit 4 Wittmann, AZ 85361
    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.
    29923 N 223Rd Ave, Unit 4
    Wittmann, AZ 85361
    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
    29923 N 223Rd Ave, Unit 4 Wittmann, AZ 85361
    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

    We can help!
    Listing Contact
    Melanie A Lakovich
    Melanie A Lakovich
    Real Estate License ID: SA691552000
    (602) 803-1237
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.