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

    31034 N 243rd Avenue unit Lm5 Wittmann, AZ 85361

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 31034 N 243rd Avenue unit Lm5, Wittmann, AZ
    For Sale
    Under Contract
    $100,000

    LAND - Wittmann, AZ

    Lot size:
    2.00 Acres
    Added:
    Aug 15, 2025
    Days on Market:
    240
    Last Refresh:
    Apr 11 at 10:06 am

    Property Features for 31034 N 243rd Avenue unit Lm5

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RU-43
    Standard status
    Active Under Contract
    APN
    503-30-007-T
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    COM NE COR SEC 20 TH S 660.28F TH W 527.8F POB TH W 790.48F TH S 660.21F TH E 790.47F TH N 660.25F P
    Tax Annual Amount
    305

    We can help!

    Listing Contact
    Melanie A Lakovich
    Melanie A Lakovich

    Listing agent Melanie A Lakovich License #SA691552000

    Listing office HomeSmart 8388 E Hartford Dr #100, Scottsdale, AZ

    Listing date Aug 15, 2025

    MLS# 6906632

    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

    Land in Wittmann, Arizona

    This two-acre lot in Wittmann, Arizona, offers beautiful views and peaceful surroundings. The property is suitable for building a home, whether site-built or manufactured. The lot is buildable with no flood or APZ issues. The west side of the property is bordered by mature trees, providing extra privacy. Horses and recreational vehicles are welcome. The seller may offer financing with a low down payment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Wittmann
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.585861
    Latitude
    33.760368

    Nearby Similar for Sale

    • $45,000

      Prime Commercial Lot on Grand

      Commercial lot with highway frontage and high traffic counts.
      214XX NW Grand Avenue, Wittmann, AZ 85361
      View Details
    • $90,000

      Wittmann, AZ One-Acre Lots

      One-acre lots available in Wittmann, ready for development.
      2300X W Montgomery Road unit: 5, Wittmann, AZ 85361
      View Details
    • $90,000

      Wittmann, AZ One-Acre Lots

      Cleared one-acre lots ready for custom homes and ranches.
      2300X W Montgomery Road unit: 4, Wittmann, AZ 85361
      View Details
    • $135,000

      Wittmann, AZ Land Opportunity

      2.63-acre parcel with versatile zoning near power lines.
      32020 N 213TH Avenue, Wittmann, AZ 85361
      View Details
    • $87,500

      Wittmann Land Near Patton Rd

      1.17-acre lot near paved road, suitable for agriculture/commercial uses.
      XXXXX W MCARTHUR Road, Wittmann, AZ 85361
      View Details
    • $420,000

      Wittmann, AZ Vacant Land Opportunity

      Five acre subdivided lots, ideal for residential development or investment.
      W Chaparosa Way unit: 1-5, Wittmann, AZ 85361
      View Details
    • $45,000

      Acre Lot in Wittmann, Arizona

      One acre lot suitable for building in Wittmann, Arizona.
      32680 W Wildcat Drive unit: R4, Wittmann, AZ 85361
      View Details
    • $137,000

      Buildable Lot in Wittmann, AZ

      Flat, buildable 1+ acre lot with shared well.
      207XX N 205th (503-47-130) Avenue unit: 1+ Acre, Wittmann, AZ 85361
      View Details
    • $119,000

      Wittmann, AZ Buildable Land Parcel

      Exceptional 1+ acre parcel in Wittmann, AZ, ready to build.
      286XX N 221st Avenue unit: 4, Wittmann, AZ 85361
      View Details
    • $145,000

      Flat, Buildable One-Acre Lot

      One-acre lot in Wittmann, AZ, ready for your dream home.
      27XXX N 239th Avenue, Wittmann, AZ 85361
      View Details
    • $500,000

      30 Acres Industrial Land Opportunity

      30-acre parcel ideal for industrial, commercial, and business operations.
      W Pinnacle Vista Road, Wittmann, AZ 85361
      View Details
    • $350,000

      Land in Growing Wittmann, AZ

      4.75 acres on a highly traveled road in Wittmann.
      W Patton Road, Wittmann, AZ 85361
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two-acre lot in Wittmann, AZ, suitable for building a home.
    Where is this residential land & home lot located?
    The property is located at 31034 N 243rd Avenue unit Lm5 Wittmann, AZ.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: Seller financing available with low $6500 down payment and easy payments.; Two‑acre lot suitable for building one or two homes.; Buildable lot with no flood zone or APZ restrictions.
    (602) 803-1237
    We can help!
    Listing Contact
    Melanie A Lakovich
    Melanie A Lakovich
    Real Estate License ID: SA691552000
    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!