Mixed-Use Property with Four Retail
For Sale
$1,200,000
760 E American Avenue, Oracle, AZ 85623
MULTI_FAMILY - Oracle, AZ
Property Size8,820 SF
Lot Size2.03 Acres
Price / SF$136.05
Days on Market316
Property Features for 760 E American Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Pinal County - CR3
Parking
30
Exterior features
Courtyard
Appliances
Refrigerator
Subdivision
Oracle Townsite
Lot features
Decorative Gravel, Shrubs, Borders Common Area, East/ West Exposure, Hillside Lot
Elementary school
Oracle Ridge
Middle school
Gardner
High school
Canyon Del Oro
Elementary school district
Oracle
Middle school district
Oracle
High school district
Oracle
Directions
From Tucson / Oro Valley take Oracle Road, which becomes Highway 77. Pass Saddlebrooke Ranch & Biosphere 2, then turn right into Oracle. Continue on American Avenue for about 3 miles until you spot your destination on the left, near Mount Lemmon Highway--a must-visit for thrill-seekers! Discover the stunning back side of Mount Lemmon and experience Arizona's adventure corridor!
Standard status
Active
APN
308-03-0520
Size
8,820 SF
Lot size
2.03 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Oracle Townsite Amended: Lots 16 Thru 22 Blk 21 & E-40' Of Monroe St Adj Nely 75' Of Lots 24 Thru 31 Blk 22 & All Of Lo
Legal Description
Oracle Townsite Amended: Lots 16 Thru 22 Blk 21 & E-40' Of Monroe St Adj Nely 75' Of Lots 24 Thru 31 Blk 22 & All Of Lo
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1956
Number of units
3
Flooring type
Stone, Wood
Building materials
Brick, Frame, Metal Siding
Roof type
Membrane
Additional Structures
Workshop
Listing Agency:
HomeCoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #B.1003079.CORP
(888) 400-2513
Added: Oct 11, 2025
Changed: Jul 18
Last Checked: Aug 22 at 7:06AM
MLS# 22526563
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.
This mixed-use property includes a 5,600 sq ft commercial building divided into four rentable areas, along with two updated two-bedroom homes. The commercial building has a new roof as of 2026, and the floorplans include shared, locking bathrooms across several suites. The property also includes three storage buildings and a flat 1/4-acre lot with existing utilities.
The site is located at the base of Mt. Lemmon on approximately 2 acres, with over 25 parking spots available for tenants and visitors. The homes are positioned above and away from the main building for added separation.
The commercial portion is described as being operated under a Triple Net Lease (NNN) structure, with base rent subject to annual increases. Tenant onboarding requirements include providing references, proof of business, and business liability insurance. The two-bedroom homes are located at 780 E American Ave and 790 E American Ave, with the commercial building at 760 E American Ave.
The site is located at the base of Mt. Lemmon on approximately 2 acres, with over 25 parking spots available for tenants and visitors. The homes are positioned above and away from the main building for added separation.
The commercial portion is described as being operated under a Triple Net Lease (NNN) structure, with base rent subject to annual increases. Tenant onboarding requirements include providing references, proof of business, and business liability insurance. The two-bedroom homes are located at 780 E American Ave and 790 E American Ave, with the commercial building at 760 E American Ave.
Key Highlights
- 2‑acre property with a 5,600 sq ft commercial building divided into four rentable spaces
- C3 zoned commercial retail/flex use with four on‑site rental spaces on a Triple Net Lease (NNN)
- Commercial spaces include a 135 sq ft unit, 1,616 sq ft unit (2 bathrooms), 2,920 sq ft unit, and 710 sq ft unit
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
$86,590
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
7.22%
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%
$1,731,800
$1.7M
Cap Rate 7%
$1,237,000
$1.2M
Cap Rate 9%
$962,111
$962.1K
Market Conditions
NOI Build-Up for 8,820 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
$132.3K $15.00/SF
− Vacancy
−$8.6K −$0.98/SF
EGI
$123.7K $14.03/SF
− OpEx
−$37.1K −$4.21/SF
NOI
$86.6K $9.82/SF
Area
Pinal County, AZ
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,731,800
Cap Rate 7%
$1,237,000
Cap Rate 9%
$962,111
Alternative Uses
Best Use
Retail
$1.24M
$1.08M – $1.44M
NOI $86,590 @ 7.0% cap · market cap 7.22%
Second Best
Multifamily LT 5
$1.08M
$946.7K – $1.26M
NOI $75,735 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,687 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 85623, AZ
4,974
Population
3,017
Households
1.6
Avg Household Size
63
Median Age
41%
College-Educated
94%
High-School Grad
188.6 sq mi
ZIP Area
26
Density / Sq Mi
$68,219
Median Household Income
$44,774
Median Earnings
$2,620
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Zoned CR3 mixed-use site with a 5,600 sq ft commercial building split into four rentable spaces plus two updated two-bedroom homes.
Where is this triplex located?
The property is located at 760 E American Avenue Oracle, AZ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2‑acre property with a 5,600 sq ft commercial building divided into four rentable spaces; C3 zoned commercial retail/flex use with four on‑site rental spaces on a Triple Net Lease (NNN); Commercial spaces include a 135 sq ft unit, 1,616 sq ft unit (2 bathrooms), 2,920 sq ft unit, and 710 sq ft unit
