Lakefront Resort With Boat
For Sale
$1,900,000
2677 Trout Rd, Lakeside, AZ 85929
Waterfront lodging property with recreational amenities, rental operations, and a boat fleet included in the sale.
Property Size6,388 SF
Price / SF$297.43
Days on Market119
Property Features for 2677 Trout Rd
General Information
Standard status
Active
Size
6,388 SF
Property subtype
Commercial
Building Details
Year Built
1983
Listing Agency:
Advantage Realty Professionals - Lakeside
(928) 242-1048
Listed By:
Liz Engelhart · License #BR558301000
Source:
Niki.eastvalleyazhomesforsale
Added: May 4
Changed: Aug 29
Last Checked: Aug 25 at 7:23AM
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 Advantage Realty Professionals - Lakeside
Investment Insights
Based on property information with market context.
This lakefront resort on Rainbow Lake combines lodging accommodations with an established rental operation and an on-site boat rental business. The sale includes pontoon boats, canoes, paddle boats, and kayaks. Property amenities include maintained grounds, lakeside fire pits, outdoor barbecue areas, a volleyball court, horseshoe pits, cornhole, frisbee golf, and open green spaces for recreation and gatherings.
Located at 2677 Trout Rd in Lakeside, Arizona, the resort is positioned in the Pinetop-Lakeside area of the White Mountains. The surrounding region supports year-round outdoor recreation, including fishing, boating, golf, hiking, hunting, off-road activities, skiing, and snowboarding, along with festivals, entertainment, and dining. The property was first established in 1959, with buildings constructed between 1959 and 1986.
Located at 2677 Trout Rd in Lakeside, Arizona, the resort is positioned in the Pinetop-Lakeside area of the White Mountains. The surrounding region supports year-round outdoor recreation, including fishing, boating, golf, hiking, hunting, off-road activities, skiing, and snowboarding, along with festivals, entertainment, and dining. The property was first established in 1959, with buildings constructed between 1959 and 1986.
Key Highlights
- Directly situated on Rainbow Lake with guest fishing access
- On‑site boat rental operation with pontoon boats, canoes, paddle boats, and kayaks included
- Established in 1959 with buildings dating from 1959 through 1986
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
$63,620
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
3.35%
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%
$1,272,400
$1.3M
Cap Rate 7%
$908,857
$908.9K
Cap Rate 9%
$706,889
$706.9K
Market Conditions
NOI Build-Up for 6,388 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
$185.5K $29.04/SF
− Vacancy
−$51.6K −$8.07/SF
EGI
$133.9K $20.97/SF
− OpEx
−$70.3K −$11.01/SF
NOI
$63.6K $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%
$1,272,400
Cap Rate 7%
$908,857
Cap Rate 9%
$706,889
Alternative Uses
Best Use
Hotel Hospitality
$908.9K
$795.3K – $1.06M
NOI $63,620 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,514 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Waterfront lodging property with recreational amenities, rental operations, and a boat fleet included in the sale.
Where is this resort located?
The property is located at 2677 Trout Rd Lakeside, AZ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Directly situated on Rainbow Lake with guest fishing access; On‑site boat rental operation with pontoon boats, canoes, paddle boats, and kayaks included; Established in 1959 with buildings dating from 1959 through 1986
