Building Details

Year Built 1971

Units 5

Listing Agency: RE/MAX Excalibur j***@remax.net Show Phone

Listed By: Julian Willetts, CCIM · License #SA677383000

Source: Crexi

Added: Jul 20 Changed: Aug 30 Last Checked: Aug 30 at 2:38PM

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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 RE/MAX Excalibur

Investment Insights

Based on property information with market context.

This mixed-use property consists of multiple lots with office improvements and a prior landscaping-yard configuration. The site was also previously operated as residential income property, with a reported pro forma NOI of 10.74%. Building improvements, square footage, and lot lines require buyer verification.

The property is in Catalina, just south of the Pinal County border, with zoning designations CMH-1 and CB-2. Its prior office and yard uses provide a documented basis for evaluating contractor, landscaping, equipment-storage, or related commercial applications, subject to confirmation of zoning and required improvements. Built in 1971, the property requires due diligence regarding existing conditions and compliance.

Key Highlights

• Mixed‑use lots with CMH‑1 and CB‑2 zoning
• Office improvements and prior landscaping‑yard use
• Previously operated as residential income property

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

$15,823

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

4.22%

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%

$316,460 $316.5K

Cap Rate 7%

$226,043 $226.0K

Cap Rate 9%

$175,811 $175.8K

Market Conditions

NOI Build-Up for 1,000 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

$23.5K $23.52/SF

− Vacancy

−$2.4K −$2.42/SF

EGI

$21.1K $21.10/SF

− OpEx

−$5.3K −$5.27/SF

NOI

$15.8K $15.82/SF

Area

Pima County, AZ

Vacancy

10.30%

Lease Rate

$23.52 /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%

$316,460

Cap Rate 7%

$226,043

Cap Rate 9%

$175,811

Alternative Uses

Best Use

Office B

$226.0K

$197.8K – $263.7K (±1% cap)

NOI $15,823 @ 7.0% cap · market cap 4.22%

Second Best

Mixed Use

$144.6K

$126.6K – $168.8K (±1% cap)

NOI $10,125 @ 7.0% cap · market cap 2.70%

Theoretical Best

Office A

$307.5K

$269.1K – $358.8K (±1% cap)

NOI $21,528 @ 7.0% cap · market cap 5.74%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Kitchen & Bath Showroom Furniture & Home Goods (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

114

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-zoned lots include office improvements and prior landscaping-yard use for equipment and vehicle storage.

Where is this mixed-use property located?

The property is located at 16673 N Avenida Del Oro Catalina, AZ.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Mixed‑use lots with CMH‑1 and CB‑2 zoning; Office improvements and prior landscaping‑yard use; Previously operated as residential income property