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    The Largest CRE Database in the US with Over 1 Million Listings

    441 N Grand Ave Nogales, AZ 85621

    Sponsored
    For Sale
    $2,400,000

    COMMERCIAL - Nogales, AZ

    Property size:
    37,482 SF
    Lot size:
    2.06 Acres
    Days on Market:
    126
    Last Refresh:
    Jan 29 at 4:06 am

    Property Features for 441 N Grand Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    Nogales - GC
    APN
    101-50-044A
    Parking
    90
    Accessibility
    Accessible Doors
    Size
    37,482 SF
    Lot size
    2.06 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1979
    Building materials
    Slump Block
    Roof type
    Built-Up

    We can help!

    Listing Contact
    Travis Wright Pottinger

    Realty Executives Arizona Territory

    Listing agent Travis Wright Pottinger (520) 370-7916

    Listing date Sep 26, 2025

    MLS# 22327313

    Copyright © 2026 Multiple Listing Service of Southern Arizona. 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

    Established Retail and Office Center

    El Alamo Plaza is a retail and office commercial center situated on a 2.06-acre lot in downtown Nogales, Arizona, approximately 0.45 miles north of the international border. The plaza, accessible from N. Grand Avenue and N. Arroyo Blvd, features 21 income-producing units totaling 37,482 square feet. These units include 16 retail spaces, one big box retail space, three office spaces, and one stand-alone hub. Current tenants include O'Reilly Auto Parts, Buffalo Exchange, PostNet Postal Service, Anda Laundry Mat, Dorado Staffing Services, Futuro Insurance, Medicare Community Resource Center, Mining Supplies, Nueva Cosecha Ministries, Larriva Corporation, Smoke Emporium, Water Mill Express, Fresk-Ka, and Geo's Nails. O'Reilly Auto Parts' lease extends through March 31, 2029, with options to extend through March of 2049 and covers 40% of the annual property taxes and utilities. Buffalo Exchange is under lease through January 31, 2031, and Water Mill Express's stand-alone hub lease runs through October 31, 2026. The remaining occupied units operate on month-to-month lease agreements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Buffalo Outlet Nogales Used Clothing Store Geo's Nails and More ... Nail Salon AMIGO'S, GUIDES & OUTFITTERS Hunting Club Desert Trophy Outfitters Hunting Club Camou Brothers Outfitters Hunting Club

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Nogales
    County
    Santa Cruz
    State
    Arizona
    Longitude
    -110.93878
    Latitude
    31.339819

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      El Alamo Plaza: Nogales Retail Center

      Prime Nogales retail center, 37,482 sq ft, 2.06 acres.
      441 Grand Ave, Nogales, AZ 85621
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    FAQs

    What type of property is this?
    Strip mall - Retail and office commercial center in downtown Nogales, Arizona.
    Where is this strip mall located?
    The property is located at 441 N Grand Ave Nogales, AZ.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: - Prime location in the heart of downtown Nogales, just 0.45 miles from the international border.; - Significant income potential with 21 income-producing units, including a mix of retail, office, and stand-alone spaces.; - **Long-term lease with O'Reilly Auto Parts through March 2049**, with no landlord responsibilities and tenant covering 40% of property taxes and utilities.
    (520) 281-2383
    Request Owner's contact information
    441 N Grand Ave Nogales, AZ 85621
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    Nogales, AZ 85621
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    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
    441 N Grand Ave Nogales, AZ 85621
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    We can help!
    Listing Contact
    Travis Wright Pottinger
    (520) 281-2383
    Learn more
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