Retail Space With Historic
For Sale
$449,900
182 W White Mountain Boulevard, Lakeside, AZ 85929
COMMERCIAL - Lakeside, AZ
Property Size1,706 SF
Lot Size0.72 Acres
Price / SF$263.72
Days on Market94
Property Features for 182 W White Mountain Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security System
Window features
Double Pane Windows
Patio and Porch features
Deck
Interior features
Vaulted Ceiling(s)
Exterior features
Rain Gutters, Smart Camera(s)/Recording
Subdivision
Lakeside Unsub
Lot features
Wooded, Tall Pines On Lot, Landscaped
Directions
From Show Low, Take Hwy 260 south towards Pinetop-Lakeside, Right before Safeway on the Left side. Across the street from The Pinetop-Lakeside Town Hall.
Standard status
Active
APN
212-30-016
Size
1,706 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Description
SECTION 25,T9N,R22E:BEG SE COR; TH N1DG13'W 1328' TO 1/16 COR; THS89DG28'01 W 455.72'; TH N0DG25'04 W 20.33' POB; TH N89DG05'52 W164.93' TO ELY R/W HWY 260; TH N39DG24'45 W ALG R/W 69.53'; TH N40DG42'54 E 231.80'; TH S37DG45'15 E 99.86'; TH S12DG20'W 19.96';TH S0DG25'04 E 133.55' POB.
Tax Annual Amount
3020
Legal Description
SECTION 25,T9N,R22E:BEG SE COR; TH N1DG13'W 1328' TO 1/16 COR; THS89DG28'01 W 455.72'; TH N0DG25'04 W 20.33' POB; TH N89DG05'52 W164.93' TO ELY R/W HWY 260; TH N39DG24'45 W ALG R/W 69.53'; TH N40DG42'54 E 231.80'; TH S37DG45'15 E 99.86'; TH S12DG20'W 19.96';TH S0DG25'04 E 133.55' POB.
Utilities
Utilities
Propane
Heating system
Forced Air, Propane (Heating), Wood
Cooling system
Central Air
Building Details
Year built
1946
Roof type
Shingle, Metal
Listing Agency:
Advantage Realty Professionals - Lakeside
(928) 368-2040
Listed By:
Shawn J Wirtz · License #SA660758000
(928) 242-3192
Added: May 11
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# 261092
Copyright © 2026 White Mountain 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 C1-zoned retail property includes approximately 1,706 square feet across two separate buildings on a 0.72-acre parcel. The 840-square-foot building, constructed in 1999, has a repaired metal roof, central air, forced-air and propane heating, and a flexible interior with vaulted ceilings. A second 866-square-foot structure dates to 1946 and features original log construction, classic chinking, a Malapai stone fireplace, an attached bathroom, and a new shingle roof. A deck, rain gutters, smart camera recording, and propane service are also included.
The property is located at 182 W White Mountain Boulevard in Lakeside, Arizona, with highway frontage and adjacency to the Safeway and Goodwill shopping centers. Its setting beneath mature Ponderosa pines combines a commercial corridor location with a character-rich cabin improvement. The property is identified in postal code 85929 and Navajo County.
The property is located at 182 W White Mountain Boulevard in Lakeside, Arizona, with highway frontage and adjacency to the Safeway and Goodwill shopping centers. Its setting beneath mature Ponderosa pines combines a commercial corridor location with a character-rich cabin improvement. The property is identified in postal code 85929 and Navajo County.
Key Highlights
- Approximately 1,706 square feet across two buildings
- 0.72‑acre C1‑zoned commercial parcel
- 840‑square‑foot building constructed in 1999
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
$29,573
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
6.57%
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%
$591,460
$591.5K
Cap Rate 7%
$422,471
$422.5K
Cap Rate 9%
$328,589
$328.6K
Market Conditions
NOI Build-Up for 1,706 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
$44.4K $26.04/SF
− Vacancy
−$2.2K −$1.28/SF
EGI
$42.2K $24.76/SF
− OpEx
−$12.7K −$7.43/SF
NOI
$29.6K $17.33/SF
Area
Navajo County, AZ
Vacancy
4.90%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
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%
$591,460
Cap Rate 7%
$422,471
Cap Rate 9%
$328,589
Alternative Uses
Best Use
Retail
$422.5K
$369.7K – $492.9K
NOI $29,573 @ 7.0% cap · market cap 6.57%
Second Best
Office B
$331.0K
$289.6K – $386.2K
NOI $23,169 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$463.6K
$405.7K – $540.9K
NOI $32,452 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 85929, AZ
8,040
Population
5,089
Households
1.6
Avg Household Size
51
Median Age
23%
College-Educated
88%
High-School Grad
34.1 sq mi
ZIP Area
236
Density / Sq Mi
$56,837
Median Household Income
$36,535
Median Earnings
$1,117
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - C1-zoned property combines an updated commercial building with a distinctive historic log cabin.
Where is this retail space located?
The property is located at 182 W White Mountain Boulevard Lakeside, AZ.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Approximately 1,706 square feet across two buildings; 0.72‑acre C1‑zoned commercial parcel; 840‑square‑foot building constructed in 1999
