Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    87 Picacho Dr, Unit 87 Globe, AZ 85501

    Sponsored
    For Sale
    $95,000

    LAND - Globe, AZ

    Lot size:
    0.21 Acres
    Days on Market:
    326
    Last Refresh:
    Jan 17 at 10:06 pm

    Property Features for 87 Picacho Dr

    General Information

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

    Utilities

    Sewer type
    Public Sewer
    Water source
    Private

    We can help!

    Listing Contact
    Joshua Asanovich

    Keller Williams Realty Phoenix (480) 768-9333 [email protected]

    Listing agent Joshua Asanovich (480) 248-5604

    Listing date Feb 26, 2025

    MLS# 6826593 Listing URL

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Three Residential Lots in Globe

    Three lots are available for sale, totaling over 1/2 acre. All lots have completed lot line surveys, topography surveys, flood drainage reports, Arizona Water Company Engineering Plans, ADEQ approvals, Water Line Vendor approvals by AWC, building plans, and City of Globe review. Architectural plans include a single-level layout with 4 bedrooms, 2 bathrooms, and a 2-car garage. All pre-build work has been completed, and all information will convey to the buyer. These lots are located within the Globe City Limits.
    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

    • $689,000
      6,000 SF

      Historic Globe Mixed-Use Building

      Landmark building in historic downtown Globe, Arizona, with retail and apartments.
      300 N Broad St, Globe, AZ 85501
      View Details
    • $689,000
      1,700 SF

      Historic Globe Mixed-Use Landmark

      Landmark building in historic downtown Globe, Arizona with retail and apartments.
      300 N Broad St, Globe, AZ 85501
      View Details
    • $375,000
      2,400 SF

      Versatile Commercial Property with Horse Facilities

      Commercial property with warehouse, outdoor space, and horse facilities.
      844 S Highland Dr, Globe, AZ 85501
      View Details
    • $145,000
      1,440 SF

      19-Unit Mini-Storage For Sale

      19-unit mini-storage facility with long-term tenants in Globe, Arizona.
      743 S Broad St, Globe, AZ 85501
      View Details
    • $2,200,000
      2,738 SF

      Gryphon Ranch

      300 Acre Cattle/Horse/Agricultural Ranch between Pinal and Mescal Mountains - Globe AZ
      2062 E Horseshoe Spg Rd, Globe, AZ 85501
      View Details
    • $399,900
      1.58 Acres

      Globe Commercial Property - Highway Frontage

      High-traffic, C-3 zoned lot with showroom.
      1750 Broad St, Globe, AZ 85501
      View Details
    • $450,000
      0.51 Acres

      Downtown Globe Bar & Property

      Established Bar, Rental Potential, Liquor License
      850 Ash St, Globe, AZ 85501
      View Details
    • $2,925,000
      0.65 Acres

      Iconic Globe Trading Post Business

      Historic building, thriving business, high-traffic location.
      404 Broad St, Globe, AZ 85501
      View Details
    • $450,000
      0.65 Acres

      Globe, AZ Commercial Opportunity

      Prime C2 Space, US60 Highway Frontage
      1605 Ash St, Globe, AZ 85501
      View Details
    • $3,800,000
      850,726 SF

      Mountain Gate Estates: Globe, AZ

      Thriving 110-space mobile home park; great investment.
      8958 Six Shooter Canyon Rd, Globe, AZ 85501
      View Details

    FAQs

    What type of property is this?
    Land - Three ready-to-build residential lots totaling over half an acre.
    Where is this land located?
    The property is located at 87 Picacho Dr, Unit 87 Globe, AZ.
    What is the asking price?
    The asking price for this property is $95,000.
    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) 248-5604
    Request Owner's contact information
    87 Picacho Dr, Unit 87 Globe, AZ 85501
    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.
    87 Picacho Dr, Unit 87
    Globe, AZ 85501
    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
    87 Picacho Dr, Unit 87 Globe, AZ 85501
    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

    We can help!
    Listing Contact
    Joshua Asanovich
    Real Estate License ID: SA629833000
    (480) 248-5604
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.