13-Room Brick
For Sale
$1,600,000
61 Main Street, Bisbee, AZ 85603
Commercial Sale, Bisbee, AZ
Property Size8,311 SF
Lot Size0.15 Acres
Price / SF$192.52
Days on Market1081
Property Features for 61 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Bisbee - Call
Directions
On Main Street in the Bisbee Historic District
Subdivision
Cochise
Standard status
Active
APN
103-62-005
Size
8,311 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Long Legal
Tax Annual Amount
12747
Legal Description
Long Legal
Utilities
Heating system
Natural Gas, Wall Furnace, Heat Pump (Heating), Forced Air
Cooling system
Wall Unit(s), Heat Pump, Central Air, Evaporative Cooling
Water source
Public
Building Details
Year built
1900
Building materials
Brick
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 877-4940
Listed By:
Victoria C Falcone · License #BR116567000
(520) 981-8552
Added: Sep 21, 2023
Changed: Sep 2
Last Checked: Sep 5 at 6:06PM
MLS# 22320774
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.
Investment Insights
Based on property information with market context.
The 1900-built hotel occupies an 8,311-square-foot property on 0.15 acres and features brick construction. The lodging layout includes 13 rooms, with five large suites, along with a bar and a larger stage for live shows and events. Heating is provided through heat pump, natural gas, forced-air, and wall-furnace systems; cooling options include evaporative, heat-pump, central-air, and wall-unit systems.
Located at 61 Main Street in downtown Bisbee, the property is positioned within the city’s established visitor-oriented setting. Public water serves the site, and the zoning designation is Bisbee - Call. The combination of guest accommodations, event infrastructure, and on-site bar space supports continued hotel and hospitality use.
Located at 61 Main Street in downtown Bisbee, the property is positioned within the city’s established visitor-oriented setting. Public water serves the site, and the zoning designation is Bisbee - Call. The combination of guest accommodations, event infrastructure, and on-site bar space supports continued hotel and hospitality use.
Key Highlights
- 13‑room hotel with 5 large suites
- 8,311 square feet on 0.15 acres
- Built in 1900 with brick construction
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
$86,206
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
5.39%
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%
$1,724,120
$1.7M
Cap Rate 7%
$1,231,514
$1.2M
Cap Rate 9%
$957,844
$957.8K
Market Conditions
NOI Build-Up for 8,311 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
$124.7K $15.00/SF
− Vacancy
−$9.7K −$1.17/SF
EGI
$114.9K $13.83/SF
− OpEx
−$28.7K −$3.46/SF
NOI
$86.2K $10.37/SF
Area
Cochise County, AZ
Vacancy
7.80%
Lease Rate
$15.00 /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%
$1,724,120
Cap Rate 7%
$1,231,514
Cap Rate 9%
$957,844
Alternative Uses
Best Use
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,206 @ 7.0% cap · market cap 5.39%
Second Best
Hotel Hospitality
$607.0K
$531.2K – $708.2K
NOI $42,493 @ 7.0% cap · market cap 2.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
7,137 visits/mo
0.4 miles
Demographics for 85603, AZ
6,342
Population
4,183
Households
1.5
Avg Household Size
55
Median Age
30%
College-Educated
90%
High-School Grad
227.6 sq mi
ZIP Area
28
Density / Sq Mi
$46,509
Median Household Income
$27,690
Median Earnings
$835
Median Rent
$204,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - Downtown Bisbee lodging property with suites, a bar, and live-event space.
Where is this hotel located?
The property is located at 61 Main Street Bisbee, AZ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 13‑room hotel with 5 large suites; 8,311 square feet on 0.15 acres; Built in 1900 with brick construction
