Medical Office with Training
For Sale
$1,990,000
1407 Mcculloch Blvd N, Lake Havasu City, AZ 86403
COMMERCIAL - Lake Havasu City, AZ
Property Size9,440 SF
Lot Size0.72 Acres
Price / SF$210.81
Days on Market395
Property Features for 1407 Mcculloch Blvd N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
L-C-1 Limited Commercial
Subdivision
Lake Havasu City
Directions
McCulloch over London Bridge on right side pull into Small Shopping/Restaurant strip mall on Island. Pull into the back.
Standard status
Active
APN
107-74-003a
Size
9,440 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ISLAND MALL SUBD AMEND/AMEND LT 3 NOT INCL COMM AT THE COM FRONT PROP PIN OF PAR A OF SD SUBD; TH N14 DEG 57'47 W 313.09
Tax Annual Amount
8796
Legal Description
ISLAND MALL SUBD AMEND/AMEND LT 3 NOT INCL COMM AT THE COM FRONT PROP PIN OF PAR A OF SD SUBD; TH N14 DEG 57'47 W 313.09
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
kitchen
training rooms
Building Details
Year built
1989
Floors in Building
1
Number of units
1
Flooring type
Carpet - Full
Building materials
Wood Frame, Stucco
Roof type
Tile
Listing Agency:
Mohave Realty
(928) 855-0101
Listed By:
Raul Ballas · License #SA677297000
(714) 686-0018
Added: Jul 14, 2025
Changed: Aug 11
Last Checked: Aug 12 at 1:06AM
MLS# 1036334
Copyright © 2026 Lake Havasu 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.
Investment Insights
Based on property information with market context.
This for-sale medical office property is configured with multiple offices, along with a kitchen and training rooms. It is presented as mixed use with medical and spa/beauty/professional options for businesses needing individual, specialty space.
The property is located at 1407 Mcculloch Blvd N in Lake Havasu City, within a resort-area setting on the island and in the Mall/Shurgue’s parking lot.
Overall, the layout supports separate workspaces, with shared back-of-house and training space provided by the existing kitchen and training rooms.
The property is located at 1407 Mcculloch Blvd N in Lake Havasu City, within a resort-area setting on the island and in the Mall/Shurgue’s parking lot.
Overall, the layout supports separate workspaces, with shared back-of-house and training space provided by the existing kitchen and training rooms.
Key Highlights
- Wood frame and stucco construction with tile roof
- Central air cooling and electric heating
- Carpet flooring throughout
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
$114,390
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
5.75%
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%
$2,287,800
$2.3M
Cap Rate 7%
$1,634,143
$1.6M
Cap Rate 9%
$1,271,000
$1.3M
Market Conditions
NOI Build-Up for 9,440 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
$203.9K $21.60/SF
− Vacancy
−$13.3K −$1.40/SF
EGI
$190.7K $20.20/SF
− OpEx
−$76.3K −$8.08/SF
NOI
$114.4K $12.12/SF
Area
Mohave County, AZ
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$2,287,800
Cap Rate 7%
$1,634,143
Cap Rate 9%
$1,271,000
Alternative Uses
Best Use
Healthcare Medical
$1.63M
$1.43M – $1.91M
NOI $114,390 @ 7.0% cap · market cap 5.75%
Second Best
Office B
$1.50M
$1.31M – $1.75M
NOI $104,713 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,536 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,269
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 86403, AZ
17,787
Population
11,604
Households
1.5
Avg Household Size
53
Median Age
18%
College-Educated
89%
High-School Grad
11.0 sq mi
ZIP Area
1,617
Density / Sq Mi
$57,531
Median Household Income
$33,368
Median Earnings
$1,152
Median Rent
$313,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-office suite includes a kitchen and training rooms within a mixed-use medical and spa-oriented setting.
Where is this medical office space located?
The property is located at 1407 Mcculloch Blvd N Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Wood frame and stucco construction with tile roof; Central air cooling and electric heating; Carpet flooring throughout
