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    Horse-Friendly Land with Mountain Views Title is generated by Realmo AI

    2399 W Old Ajo Way, Tucson, AZ 85746

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    Claim this Listing
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    For Sale
    $150,000

    LAND - Tucson, AZ

    Lot size:
    4.40 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 2399 W Old Ajo Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Pima County - SH
    Standard status
    Active
    APN
    119-35-175B
    Lot size
    4.40 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Irr Ptn E959.99' S580.47' Sw4 Ne4 10.67Ac Sec 33-14-13
    Tax Annual Amount
    2887

    We can help!

    Listing Contact
    Victoria P Eves

    Listing agent Victoria P Eves License #SA651270000

    Listing office Keller Williams Southern Arizona 1730 E River Rd Ste 200, Tucson, AZ

    Listing date Jun 3, 2026

    MLS# 22614086 Listing URL

    Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4.40 acres of Arizona desert land with panoramic mountain views
    • Zoning allows a primary residence, second home, and guest house
    • Horse‑friendly property with direct access to outdoor recreation including horseback riding, hiking, mountain biking, and side‑by‑side riding
    • Property is suited for a custom home, family compound, or investment retreat based on the described zoning and acreage
    • Seller financing is available

    Overview

    This 4.40-acre parcel offers desert landscaping and panoramic mountain views, suited for owners looking to build a custom primary residence and additional structures. The property is described as horse-friendly and is being marketed for uses such as a family compound or an investment retreat. The listing notes zoning flexibility for a primary residence, second home, and guest house, giving buyers options in how they plan the site.

    Located at 2399 W Old Ajo Way in Tucson, Arizona 85746, the land is in Pima County and identified with the zoning designation “Pima County - SH.” The seller’s remarks emphasize direct access to outdoor recreation right from the property, including horseback riding, hiking, mountain biking, and side-by-side adventures.

    For buyers and investors seeking workable acreage, this parcel may fit a range of residential scenarios where additional housing is desired alongside equestrian use. If you’re planning to build, the stated zoning allowances for a primary residence, second home, and guest house can help shape a site plan. Seller financing is also noted as available, which may be useful for qualified buyers who want an alternative to traditional lending.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store Food Market Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -111.016905
    Latitude
    32.171754

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    FAQs

    What type of property is this?
    Horse & equestrian property - 4.40 acres in Pima County for a primary residence and guest house, with direct access to outdoor recreation.
    Where is this horse & equestrian property located?
    The property is located at 2399 W Old Ajo Way Tucson, AZ.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: 4.40 acres of Arizona desert land with panoramic mountain views; Zoning allows a primary residence, second home, and guest house; Horse‑friendly property with direct access to outdoor recreation including horseback riding, hiking, mountain biking, and side‑by‑side riding
    (520) 245-4849
    We can help!
    Listing Contact
    Victoria P Eves
    Real Estate License ID: SA651270000
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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