Building Details

Year Built 1971

Units 5

Listing Agency: RE/MAX Excalibur

Listed By: Julian Willetts, CCIM · License #SA677383000 Show Phone

Source: Crexi

Added: Jul 20 Changed: Oct 11 Last Checked: Oct 14 at 10:11PM

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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

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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 / Yr

$15,823

Cap Rate

4.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$316,460 $316.5K

Cap Rate 7%

$226,043 $226.0K

Cap Rate 9%

$175,811 $175.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,000 SF

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 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. How Realmo checks its estimates

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

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