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    620 E American Avenue Oracle, AZ 85623

    View on Map
    For Sale
    $249,999

    COMMERCIAL - Oracle, AZ

    Property size:
    3,060 SF
    Lot size:
    0.77 Acres
    Added:
    Oct 10, 2024
    Days on Market:
    540
    Last Refresh:
    Apr 2 at 7:06 am

    Property Features for 620 E American Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Oracle - CB2
    Parking
    20
    Standard status
    Active
    APN
    308-03-053D
    Size
    3,060 SF
    Lot size
    0.77 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    See documents tab
    TaxAnnualAmount
    2920

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Baseboard
    Cooling system
    Evaporative Cooling

    Building Details

    Year built
    1990
    Building materials
    Slump Block
    Roof type
    Shingle, Tile

    We can help!

    Listing Contact
    Tanya Lynn Reddish
    Tanya Lynn Reddish

    Listing agent Tanya Lynn Reddish

    Listing office Keller Williams Southern Arizona 1730 E River Rd Ste 200, Tucson, AZ

    Listing date Oct 10, 2024

    MLS# 22425172

    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.

    Overview

    Commercial Building in Oracle, Arizona

    This commercial building is located in Oracle, Arizona, and features frontage on the main road. All units are currently leased. Unit A offers 1200 square feet and is leased to a local gym for $660 rent. Units B and C are each 600 square feet and are combined for SSS Hardware store, generating $1000 rent with a 4-year lease. Unit D has a 1-year lease, offering 300 square feet, and generates $330 rent. Unit E also has a 1-year lease, providing 300 square feet, and generates $330 rent. The property includes 20 parking spaces. The building has evaporative cooling and baseboard heating. Some units have been freshly painted and updated. The property is zoned Oracle - CB2. The lot size is 0.77 acres, and the property size is 3060 square feet. The legal description to convey does not reflect the legal description shown on the assessor's map; a portion of Ray Road from lots 10-19 are not part of the sale. The buyer is responsible for verifying acreage and zoning. The property may have a longer closing date. Owner financing may be an option with short, specific, agreed-upon terms.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Outpaw's pet grooming Pet Grooming Service Oracle 24hr Fitness ... Gym & Fitness Center Connie's Barber Shop Barber Shop Frank C Martinez ... Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Oracle
    County
    Pinal
    State
    Arizona
    Longitude
    -110.766965
    Latitude
    32.610824

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    FAQs

    What type of property is this?
    Strip mall - Leased commercial building in Oracle with main road frontage.
    Where is this strip mall located?
    The property is located at 620 E American Avenue Oracle, AZ.
    What is the asking price?
    The asking price for this property is $249,999.
    What are key features of this property?
    This property features: Fully leased commercial building providing immediate rental income.; Main road frontage in Oracle.; Multiple units with individual utilities.
    (520) 329-0955
    We can help!
    Listing Contact
    Tanya Lynn Reddish
    Tanya Lynn Reddish
    Learn More
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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
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