Flex Space with
New
For Sale
$1,775,000
1515 N Lake Havasu Ave N, Lake Havasu City, AZ 86404
Five separately metered units can serve individual occupants or be combined for a larger operation.
Property Size9,511 SF
Price / SF$186.65
Days on Market2
Property Features for 1515 N Lake Havasu Ave N
General Information
Standard status
Active
Size
9,511 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
3,000 SF
Building Details
Year Built
2005
Buildings
1
Building Size
9,511 SF
Tenancy
Multi
Listing Agency:
Realty ONE Group Mountain Desert-LH
Listed By:
Randy Shuffler · License #rshuffler
(928) 680-7350
Source:
Searchhomesinhavasu
Added: Sep 26
Last Checked: Sep 26 at 2:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group Mountain Desert-LH
Investment Insights
Based on property information with market context.
Built in 2005, this flex property contains five separately metered commercial units, private offices, reception space, five bathrooms, and two kitchenettes. The lower-level garage and warehouse area measures approximately 60' x 50' and has a 7' x 16' garage door. Rear road access and a flat private parking lot are also available.
The property is one block from Highway 95 and near Palo Verde North. Its units may be occupied individually or configured together as a single space.
The property is one block from Highway 95 and near Palo Verde North. Its units may be occupied individually or configured together as a single space.
Key Highlights
- Five separately metered commercial units
- Lower‑level garage and warehouse area measures approximately 60' x 50'
- Garage door measures 7' x 16'; rear road access
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
$92,295
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
5.20%
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%
$1,845,900
$1.8M
Cap Rate 7%
$1,318,500
$1.3M
Cap Rate 9%
$1,025,500
$1.0M
Market Conditions
NOI Build-Up for 9,510 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
$123.2K $12.96/SF
− Vacancy
−$14.7K −$1.54/SF
EGI
$108.6K $11.42/SF
− OpEx
−$16.3K −$1.71/SF
NOI
$92.3K $9.71/SF
Area
Mohave County, AZ
Vacancy
11.90%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,845,900
Cap Rate 7%
$1,318,500
Cap Rate 9%
$1,025,500
Alternative Uses
Best Use
Warehouse
$1.32M
$1.15M – $1.54M
NOI $92,295 @ 7.0% cap · market cap 5.20%
Second Best
Industrial
$1.09M
$950.1K – $1.27M
NOI $76,008 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,630 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 86404, AZ
18,312
Population
11,503
Households
1.6
Avg Household Size
59
Median Age
19%
College-Educated
93%
High-School Grad
161.8 sq mi
ZIP Area
113
Density / Sq Mi
$67,528
Median Household Income
$37,160
Median Earnings
$1,352
Median Rent
$421,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Five separately metered units can serve individual occupants or be combined for a larger operation.
Where is this flex space located?
The property is located at 1515 N Lake Havasu Ave N Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Five separately metered commercial units; Lower‑level garage and warehouse area measures approximately 60' x 50'; Garage door measures 7' x 16'; rear road access
