Five-Unit Mixed-Use
New
For Sale
$1,775,000
1515 N Lake Havasu Ave N, Lake Havasu City, AZ 86404
Commercial Sale, Lake Havasu City, AZ
Property Size9,511 SF
Lot Size0.43 Acres
Price / SF$186.65
Days on Market1
Property Features for 1515 N Lake Havasu Ave N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
L-C-1 Limited Commercial
Security features
Security System
Subdivision
Lake Havasu City
Directions
Highway 95 N to N Palo Verde. East to Lake Havasu Ave. Located at 1515 LHA, just behind the Mini Mart.
Standard status
Active
APN
104-35-007
Size
9,510 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TRACT: 2180 LAKE HAVASU CITY TR 2180 POR SEC 27 34 BLK 1 LOT 7
Tax Annual Amount
10660
Legal Description
TRACT: 2180 LAKE HAVASU CITY TR 2180 POR SEC 27 34 BLK 1 LOT 7
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Number of units
4
Flooring type
Concrete
Building materials
Wood Frame, Block
Roof type
Rolled Hot Mop
Listing Agency:
Realty ONE Group Mountain Desert-LH
(928) 680-7350
Listed By:
Randy Shuffler · License #/SA535036000
(928) 230-5982
Added: Sep 24
Last Checked: Sep 24 at 10:06PM
MLS# 1042646
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 9,510-square-foot mixed-use property, built in 2005, contains five separately metered commercial units and approximately 3,000 square feet of garage and warehouse area. Interior features include private offices, reception space, five bathrooms, and two kitchenettes. The lower-level garage measures approximately 60 by 50 feet and has a 7-by-16-foot overhead door. Central heating and air conditioning serve the building, with concrete flooring and a flat private parking lot.
The property is one block from Highway 95 near Palo Verde North. Rear road access serves the garage, providing an additional point of entry. The site encompasses 0.43 acres in Lake Havasu City.
The property is one block from Highway 95 near Palo Verde North. Rear road access serves the garage, providing an additional point of entry. The site encompasses 0.43 acres in Lake Havasu City.
Key Highlights
- 9,510 square feet of building area on 0.43 acres
- Five separately metered commercial units with private offices, reception space, five bathrooms, and two kitchenettes
- Approximately 3,000 square feet of garage and warehouse space
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
$105,490
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
5.94%
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%
$2,109,800
$2.1M
Cap Rate 7%
$1,507,000
$1.5M
Cap Rate 9%
$1,172,111
$1.2M
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
$165.5K $17.40/SF
− Vacancy
−$24.8K −$2.61/SF
EGI
$140.7K $14.79/SF
− OpEx
−$35.2K −$3.70/SF
NOI
$105.5K $11.09/SF
Area
Mohave County, AZ
Vacancy
15.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,109,800
Cap Rate 7%
$1,507,000
Cap Rate 9%
$1,172,111
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,490 @ 7.0% cap · market cap 5.94%
Second Best
Warehouse
$1.32M
$1.15M – $1.54M
NOI $92,295 @ 7.0% cap · market cap 5.20%
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
1
Drive-in doors
5
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
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 Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five separately metered commercial spaces can operate independently or function together within a single building.
Where is this mixed-use property 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: 9,510 square feet of building area on 0.43 acres; Five separately metered commercial units with private offices, reception space, five bathrooms, and two kitchenettes; Approximately 3,000 square feet of garage and warehouse space
