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

    87 88 89 Picacho Drive unit 87 Globe, AZ 85501

    View on Map
    Claim this Listing
    For Sale
    $85,000

    LAND - Globe, AZ

    Lot size:
    0.21 Acres
    Added:
    Feb 26, 2025
    Days on Market:
    411
    Last Refresh:
    Apr 13 at 3:06 am

    Property Features for 87 88 89 Picacho Drive unit 87

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1-6
    Standard status
    Active
    APN
    207-28-087
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2020
    Tax Annual Amount
    481

    Utilities

    Sewer type
    Public Sewer
    Water source
    Private

    We can help!

    Listing Contact
    Joshua Asanovich

    Listing agent Joshua Asanovich License #SA629833000

    Listing office Keller Williams Realty Phoenix 6400 E McDowell Rd Suite 160, Tempe, AZ

    Listing date Feb 26, 2025

    MLS# 6826593 Listing URL

    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

    Three Residential Lots in Globe

    Three lots, identified as lots 87, 88, and 89, are available for sale, totaling over 0.5 acres. Located within Globe city limits, the lots have undergone several pre-build preparations. These include a lot line survey, topography survey, flood drainage report, Arizona Water Company Engineering Plan approval, ADEQ approval, and Water Line Vendor approval by AWC. Building plans have been completed and reviewed by the City of Globe. Architectural plans for a single-level home with 4 bedrooms, 2 bathrooms, and a 2-car garage are included. The list price includes all information to convey to the buyer, facilitating the immediate construction of three homes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Globe
    County
    Gila
    State
    Arizona
    Longitude
    -110.81073
    Latitude
    33.422795

    Nearby Similar for Sale

    • Contact for pricing
      2,856 SF

      Downtown Globe Commercial Building Available

      Two-story commercial building with basement in downtown Globe, Arizona.
      300 N Broad St, Globe, AZ 85501
      View Details
    • $280,000

      Highway 70 Frontage Land

      2.86 acres of fenced land with highway frontage.
      1990 E Ash Street unit: 34, Globe, AZ 85501
      View Details
    • $599,000
      6,000 SF

      Historic Globe Mixed-Use Building

      Two-story commercial building with basement in historic downtown Globe, AZ.
      300 N Broad St, Globe, AZ 85501
      View Details
    • $89,500

      8.07 Acres Vacant Land

      Vacant land for dream home with utilities in Globe, AZ.
      5803 E Quail Run, Globe, AZ 85501
      View Details
    • $599,000
      1,700 SF

      Historic Globe Mixed-Use Landmark Building

      Landmark mixed-use building in historic downtown Globe, Arizona.
      300 N Broad St, Globe, AZ 85501
      View Details
    • $80,000

      2.61 Acres Vacant Land

      2.61 acres of land with water in place.
      Coyote TRL, Globe, AZ 85501
      View Details
    • $180,000

      Off-Grid Land in Globe, AZ

      10 to 40 acres of off-grid land for sale.
      4XX S El Capitan Drive, Globe, AZ 85501
      View Details
    • $45,000

      Residential Land in Globe, AZ

      Residential land parcel in Globe, Arizona, ready for development.
      Cottonwood St, Globe, AZ 85501
      View Details
    • $775,000

      Permitted High-Yield Rock Quarry

      75-acre rock quarry with permits and proven output.
      2062 - E E Horseshoe Springs Road, Globe, AZ 85501
      View Details
    • $280,000
      124,581 SF

      Highway 70 Frontage Land

      2.86 acres of fenced land with 623' highway frontage.
      1990 E Ash St, Globe, AZ 85501
      View Details
    • $140,000

      Globe, AZ Vacant Land

      5.8-acre homesite with mountain and city views near downtown.
      Lot 3 S Ice House Cyn, Globe, AZ 85501
      View Details
    • $3,210,000

      Arizona Land with Silver Creek

      642 acres featuring live water and highway frontage.
      MM 158 S AZ State Highway 77 --, Globe, AZ 85501
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three lots available for immediate residential construction in Globe, AZ.
    Where is this residential land & home lot located?
    The property is located at 87 88 89 Picacho Drive unit 87 Globe, AZ.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: All 3 lots included, totaling over 1/2 acre.; All pre‑build work completed and approved.; Approved architectural plans for a single‑level 4 bed/2 bath/2 car garage included.
    (480) 518-0286
    We can help!
    Listing Contact
    Joshua Asanovich
    Real Estate License ID: SA629833000
    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!