23-Room Motel with Activity
For Sale
$2,198,000
2089 E White Mountain Boulevard, Pinetop, AZ 85935
COMMERCIAL - Pinetop, AZ
Property Size7,944 SF
Lot Size0.93 Acres
Price / SF$276.69
Days on Market280
Property Features for 2089 E White Mountain Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Window features
Window Coverings, Drapes, Window Treatments, Blinds
Patio and Porch features
Porch, Patio, Deck
Interior features
Wet Bar
Exterior features
Outdoor Grill
Subdivision
Pinetop/C Unsub
Lot features
Wooded, Tall Pines On Lot, Landscaped
Directions
East on White Mountain Blvd/HWY 260 from Pinetop to property on South side of road. Nine Pines Motel signage present and visible.
Standard status
Active
APN
311-44-002C
Size
7,944 SF
Lot size
0.93 Acres
Taxes and HOA fees
Tax Description
SEC 5, T8N, R23E: COM NW COR SEC 5; TH N89DEG44'02W 676.99'; THS00DEG32'42W 47.77' TPOB; TH S00DEG34'36E 27.87'; TH S89DEG53'49E 2.83'; TH S00DEG47'18W 43.88'; TH S88DEG05'12E 2.80'; TH S00DEG55'10E 132.18'; TH S80DEG17'02W 8.01'; TH S89DEG55'16W 125.99'; TH N00DEG43'10W 39.46'; TH S86DEG48'18W 7.50'; TH N00DEG43'10W 174.03';TH ESTLY 136.91' ALG NON-TANGENT CURVE TO THE RT R=1152.18' DELTA 06DEG48'30 CHRD S86DEG50'53E 136.83 TPOB OUT OF311-44-002A FOR 2016 ROLL
Tax Annual Amount
6726
Legal Description
SEC 5, T8N, R23E: COM NW COR SEC 5; TH N89DEG44'02W 676.99'; THS00DEG32'42W 47.77' TPOB; TH S00DEG34'36E 27.87'; TH S89DEG53'49E 2.83'; TH S00DEG47'18W 43.88'; TH S88DEG05'12E 2.80'; TH S00DEG55'10E 132.18'; TH S80DEG17'02W 8.01'; TH S89DEG55'16W 125.99'; TH N00DEG43'10W 39.46'; TH S86DEG48'18W 7.50'; TH N00DEG43'10W 174.03';TH ESTLY 136.91' ALG NON-TANGENT CURVE TO THE RT R=1152.18' DELTA 06DEG48'30 CHRD S86DEG50'53E 136.83 TPOB OUT OF311-44-002A FOR 2016 ROLL
Utilities
Heating system
Forced Air, Natural Gas, Electric (Heating)
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1970
Roof type
Shingle
Additional Structures
Other
Listing Agency:
RE/MAX Mountain Valley
(928) 329-6688
Listed By:
Jay Eckhardt · License #BR581926000
(480) 329-3667
Added: Nov 14, 2025
Changed: Aug 4
Last Checked: Aug 21 at 9:06PM
MLS# 258679
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 23-room motel includes a separate three-bedroom suite that can serve as an owner’s residence or accommodate larger groups. The offering includes the real estate, operating business, FF&E, and established customer base. A multi-use activity center features a pool table, electronic darts, vending, games, and entertainment, with space that can also support events, weddings, and meetings. Property improvements include a wet bar, outdoor grill, porch, patio, deck, shingle roof, forced-air heating, natural gas, electric heating, window units, and central air.
The property occupies 0.93 acres at 2089 E White Mountain Boulevard in Pinetop, Arizona, with frontage on Hwy 260. Restaurants, bars, golf, lakes, hiking, and biking are identified in the surrounding area, while Sunrise Ski Resort is approximately 30 minutes away. The motel was built in 1970 and contains 7,944 square feet.
The property occupies 0.93 acres at 2089 E White Mountain Boulevard in Pinetop, Arizona, with frontage on Hwy 260. Restaurants, bars, golf, lakes, hiking, and biking are identified in the surrounding area, while Sunrise Ski Resort is approximately 30 minutes away. The motel was built in 1970 and contains 7,944 square feet.
Key Highlights
- 23‑room motel with separate three‑bedroom suite
- 7,944 square feet on 0.93 acres
- Multi‑use activity center with pool table, electronic darts, vending, games, and entertainment
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
$79,116
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
3.60%
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%
$1,582,320
$1.6M
Cap Rate 7%
$1,130,229
$1.1M
Cap Rate 9%
$879,067
$879.1K
Market Conditions
NOI Build-Up for 7,944 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
$230.7K $29.04/SF
− Vacancy
−$64.1K −$8.07/SF
EGI
$166.6K $20.97/SF
− OpEx
−$87.4K −$11.01/SF
NOI
$79.1K $9.96/SF
Area
Navajo County, AZ
Vacancy
27.80%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
52.50%
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%
$1,582,320
Cap Rate 7%
$1,130,229
Cap Rate 9%
$879,067
Alternative Uses
Best Use
Hotel Hospitality
$1.13M
$989.0K – $1.32M
NOI $79,116 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $151,113 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85935, AZ
3,945
Population
5,596
Households
0.7
Avg Household Size
53
Median Age
46%
College-Educated
98%
High-School Grad
45.2 sq mi
ZIP Area
87
Density / Sq Mi
$64,934
Median Household Income
$31,824
Median Earnings
$905
Median Rent
$381,000
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Motel - Separate three-bedroom suite, outdoor amenities, and flexible gathering space support lodging, events, weddings, and meetings.
Where is this motel located?
The property is located at 2089 E White Mountain Boulevard Pinetop, AZ.
What is the asking price?
The asking price for this property is $2,198,000.
What are key features of this property?
This property features: 23‑room motel with separate three‑bedroom suite; 7,944 square feet on 0.93 acres; Multi‑use activity center with pool table, electronic darts, vending, games, and entertainment
