Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Morristown Land with Shared Well Title is generated by Realmo AI

    Xx00 N 253rd Avenue, Morristown, AZ 85342

    View on Map
    Claim this Listing
    For Sale
    $195,000

    LAND - Morristown, AZ

    Lot size:
    2.47 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    47
    Last Refresh:
    May 19 at 8:06 am

    Property Features for Xx00 N 253rd Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-43
    Standard status
    Active
    APN
    -
    Lot size
    2.47 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    NE4 NE4 NE4 SE4 SEC 30 P/F 2021-0754733
    Tax Annual Amount
    809

    Utilities

    Utilities
    Electricity Available
    Water source
    Well

    We can help!

    Listing Contact
    Sammie Hone
    Sammie Hone

    Listing agent Sammie Hone License #SA665852000

    Listing office My Home Group Real Estate 110 S. Priest Drive #101, Tempe, AZ

    Listing date Apr 3, 2026

    MLS# 1080893 Listing URL

    Copyright © 2026 Prescott Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Electricity and shared well on the property
    • Easy access; Hwy 60 less than 1/4 mile away
    • Borders public land
    • Riding distance to Horns and Hooves roping arena
    • Pipe/no‑climb fencing on two sides
    • Great views

    Overview

    This 2.47-acre property is located in Morristown, Arizona. The land offers accessibility and is conveniently located within riding distance of Horns and Hooves roping arena. A shared well and electricity are available on the property. Pipe and no-climb fencing are installed on two sides of the property. Situated less than a quarter mile from Highway 60, the location avoids miles of driving on rough roads. The property borders public land and offers views. The zoning is R-43.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Restaurant Clothing & Fashion Store Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.603404
    Latitude
    33.832791

    Nearby Similar for Sale

    • $275,000

      Morristown, AZ Land Parcel

      4.42-acre parcel in Morristown, AZ with no HOA.
      N 235th Avenue, Morristown, AZ 85342
      View Details
    • $275,000

      Morristown, AZ Acreage with Airstrip

      3.03-acre lot with airstrip access in Thunder Ridge Airpark.
      N 237th Avenue, Morristown, AZ 85342
      View Details
    • $140,000

      Morristown Acreage: Prime Location

      3.73 acres in Morristown, Arizona, with no HOA.
      Xx00 W Grand Avenue, Morristown, AZ 85342
      View Details
    • $110,000

      Morristown Land with View Potential

      2.19 acres with well share, views, and flexible options.
      41XX3 N 276th Avenue, Morristown, AZ 85342
      View Details
    • $95,000

      Morristown Land with Seller Financing

      2.2 acres in Morristown with easy seller financing.
      41XX4 N 276th Avenue, Morristown, AZ 85342
      View Details
    • $84,800

      Morristown Land with Mountain Views

      Double lot near state land with utilities in Morristown, AZ.
      471 BLUM Drive, Morristown, AZ 85342
      View Details
    • $125,000

      Morristown Horse Property Opportunity

      Two-acre horse property near paved road with mountain views.
      Xx00e N 253rd Avenue, Morristown, AZ 85342
      View Details
    • $55,000

      Corner Lot in Morristown, AZ

      Desirable 0.23-acre corner lot near Highway 60, no HOA.
      Vladek Circle, Morristown, AZ 85342
      View Details
    • $197,000

      Morristown Desert Parcel For Sale

      42.25-acre desert parcel with seasonal creek and rock outcroppings.
      37700 S Cow Creek Road, Morristown, AZ 85342
      View Details
    • $59,000

      2.2 Acres in Morristown, AZ

      2.2 acres of residential land near Hassayampa River.
      41XX5 N 276th Avenue, Morristown, AZ 85342
      View Details
    • $245,000

      Morristown Horse Property with Views

      3.93-acre horse property with mountain views in Morristown, AZ.
      Xx00 N Castle Hot Springs Road, Morristown, AZ 85342
      View Details
    • $105,000

      Morristown, AZ - 3 Acre Land

      3-acre property with views, near Hwy 60, build your dream home.
      43925 N Saguaro Blossom Lane, Morristown, AZ 85342
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 2.47 acres with shared well and electricity near Hwy 60.
    Where is this horse & equestrian property located?
    The property is located at Xx00 N 253rd Avenue Morristown, AZ.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: Electricity and shared well on the property; Easy access; Hwy 60 less than 1/4 mile away; Borders public land
    (928) 231-7657
    We can help!
    Listing Contact
    Sammie Hone
    Sammie Hone
    Real Estate License ID: SA665852000
    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

    Thank You for Inquiry
    Xx00 N 253rd Avenue, Morristown, AZ 85342
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!