Flex Space with Fenced
For Sale
$899,000
190 S Freeman Hollow Road, Snowflake, AZ 85937
Commercial Sale, Snowflake, AZ
Property Size4,300 SF
Lot Size11.23 Acres
Price / SF$209.07
Days on Market93
Property Features for 190 S Freeman Hollow Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
AGen
Subdivision
Show Low Unsub
Directions
Southwest Corner of Freeman Hollow Road and Highway 277
Standard status
Active
APN
202-30-002A
Size
4,300 SF
Lot size
11.23 Acres
Taxes and HOA fees
Tax Description
Section 19,T13n,R21e: Beg Ne Cor Section 19; Th S0dg21'20 E 142'To S R/W Hwy 277, Tpob; Th Sodg21'20 E 1183.71';th S89dg48'03 W 462.37'; Th Nodg21'20 W 1181.71'To S R/W Hwy; Th N89dg26'54 E Alghwy 462' M/L Tpob. Less 1.35 Ac To Town Of Snowflake For Freemanhollow Rd Per (2012-15568) For 2013 Roll.
Tax Annual Amount
1508
Legal Description
Section 19,T13n,R21e: Beg Ne Cor Section 19; Th S0dg21'20 E 142'To S R/W Hwy 277, Tpob; Th Sodg21'20 E 1183.71';th S89dg48'03 W 462.37'; Th Nodg21'20 W 1181.71'To S R/W Hwy; Th N89dg26'54 E Alghwy 462' M/L Tpob. Less 1.35 Ac To Town Of Snowflake For Freemanhollow Rd Per (2012-15568) For 2013 Roll.
Building Details
Year built
1993
Roof type
Metal
Listing Agency:
SEI Real Estate Professionals - Snowflake
(928) 457-0189
Listed By:
David Mills · License #SA526366000
(928) 255-2323
Added: May 26
Changed: Aug 25
Last Checked: Aug 26 at 3:06AM
MLS# 261365
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 flex property combines a 4,300-square-foot office warehouse with a three-bay shop, including a pull-through bay, office area, and mezzanine. Built in 1993, the building has a metal roof and sits on an 11.23-acre parcel.
A fenced yard area covers 4 acres, while the remaining 7.23 acres provide excess land identified for additional development. The property occupies the corner of Highway 277 and Freeman Hollow Road in Snowflake, Arizona.
A fenced yard area covers 4 acres, while the remaining 7.23 acres provide excess land identified for additional development. The property occupies the corner of Highway 277 and Freeman Hollow Road in Snowflake, Arizona.
Key Highlights
- 4,300 Sqft office warehouse on 11.23 Acres
- 4 acre fenced yard area
- 7.23 acres of excess land available for more development
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
$61,821
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
6.88%
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%
$1,236,420
$1.2M
Cap Rate 7%
$883,157
$883.2K
Cap Rate 9%
$686,900
$686.9K
Market Conditions
NOI Build-Up for 4,300 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
$99.1K $23.04/SF
− Vacancy
−$4.0K −$0.92/SF
EGI
$95.1K $22.12/SF
− OpEx
−$33.3K −$7.74/SF
NOI
$61.8K $14.38/SF
Area
Navajo County, AZ
Vacancy
4.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
35.00%
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%
$1,236,420
Cap Rate 7%
$883,157
Cap Rate 9%
$686,900
Alternative Uses
Best Use
Flex RnD
$883.2K
$772.8K – $1.03M
NOI $61,821 @ 7.0% cap · market cap 6.88%
Second Best
Warehouse
$679.7K
$594.7K – $793.0K
NOI $47,579 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,796 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85937, AZ
8,434
Population
3,159
Households
2.7
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
289.7 sq mi
ZIP Area
29
Density / Sq Mi
$64,475
Median Household Income
$29,099
Median Earnings
$1,182
Median Rent
$259,000
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Office, shop, mezzanine, and pull-through bay are included.
Where is this flex space located?
The property is located at 190 S Freeman Hollow Road Snowflake, AZ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,300 Sqft office warehouse on 11.23 Acres; 4 acre fenced yard area; 7.23 acres of excess land available for more development
