Five-Unit Office
For Sale
$1,100,000
Pending
2164 N McCulloch Blvd N, Lake Havasu City, AZ 86403
Fully leased commercial property combines office and retail space.
Property Size4,996 SF
Days on Market226
Property Features for 2164 N McCulloch Blvd N
General Information
Standard status
Pending
Size
4,996 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
6%
Building Details
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
Brooks-Clark And Assoc.
(928) 727-0037
Listed By:
Suzannah Ballard
Source:
Lakehavasuareahomesearch
Added: Jan 17
Changed: Aug 29
Last Checked: Aug 30 at 6:08PM
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 Brooks-Clark And Assoc.
Investment Insights
Based on property information with market context.
This five-unit commercial building contains office and retail space and is fully leased. Constructed in 1979, the property is located at 2164 N McCulloch Blvd N in Lake Havasu City, Arizona. The offering reflects a 6.0% cap rate and provides an established combination of commercial occupancy and multiple suites within one building.
Key Highlights
- Five‑unit commercial office and retail building
- Fully leased property
- 6.0% cap rate
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
$55,418
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
5.04%
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%
$1,108,360
$1.1M
Cap Rate 7%
$791,686
$791.7K
Cap Rate 9%
$615,756
$615.8K
Market Conditions
NOI Build-Up for 4,996 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
$86.9K $17.40/SF
− Vacancy
−$13.0K −$2.61/SF
EGI
$73.9K $14.79/SF
− OpEx
−$18.5K −$3.70/SF
NOI
$55.4K $11.09/SF
Area
Mohave County, AZ
Vacancy
15.00%
Lease Rate
$17.40 /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%
$1,108,360
Cap Rate 7%
$791,686
Cap Rate 9%
$615,756
Alternative Uses
Best Use
Office B
$791.7K
$692.7K – $923.6K
NOI $55,418 @ 7.0% cap · market cap 5.04%
Second Best
Retail
$693.2K
$606.6K – $808.7K
NOI $48,524 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$1.12M
$976.0K – $1.30M
NOI $78,081 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,554
Businesses Nearby
Explore this area
Business Placement
Demographics for 86403, AZ
17,787
Population
11,604
Households
1.5
Avg Household Size
53
Median Age
18%
College-Educated
89%
High-School Grad
11.0 sq mi
ZIP Area
1,617
Density / Sq Mi
$57,531
Median Household Income
$33,368
Median Earnings
$1,152
Median Rent
$313,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased commercial property combines office and retail space.
Where is this office building located?
The property is located at 2164 N McCulloch Blvd N Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five‑unit commercial office and retail building; Fully leased property; 6.0% cap rate
