Automotive Garage and Shop
For Sale
$350,000
268 W Lewis Avenue, Ash Fork, AZ 86320
COMMERCIAL - Ash Fork, AZ
Property Size744 SF
Lot Size0.33 Acres
Price / SF$470.43
Days on Market92
Property Features for 268 W Lewis Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PS
Fencing
Fenced
Directions
I-40 & exit 146 go north into Ash Fork, curves west. go to 3rd. st. business on right at corner.
Subdivision
30 - Ashfork
Standard status
Active
APN
30210005
Size
744 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
ASHFORK LOTS 9 10 11 & 12 BLK 2
Tax Annual Amount
791
Legal Description
ASHFORK LOTS 9 10 11 & 12 BLK 2
Utilities
Utilities
Natural Gas Available
Building Details
Year built
1954
Roof type
Metal
Listing Agency:
RE/MAX Fine Properties · RE/MAX International
(480) 792-9500
Listed By:
Weston T Foster · License #SA689135000
(928) 699-1917
Added: Jun 4
Changed: Aug 4
Last Checked: Sep 3 at 8:06AM
MLS# 204777
Copyright © 2026 Northern Arizona Multiple Listing Service. 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 for-sale automotive property features a 1954-built, 744 square foot building currently operating as Cowper Garage. The site is set on a 0.33-acre lot, offering room for practical on-site needs such as parking and storage alongside the existing shop use.
The property is located at 268 W Lewis Avenue in Ash Fork, AZ, and is described as having historic ties to the area’s Route 66-era community gas station. With the building already configured for automotive and mechanical work, the improvements support continued use while allowing an owner-operator to evaluate other commercial concepts.
For buyers seeking an owner-user facility, the current garage setup provides a straightforward foundation for maintaining or expanding automotive-related services. For investors or entrepreneurs, the oversized lot and existing shop building can support a range of automotive-focused tenancy strategies, depending on operational requirements and any future redevelopment plans.
The property is located at 268 W Lewis Avenue in Ash Fork, AZ, and is described as having historic ties to the area’s Route 66-era community gas station. With the building already configured for automotive and mechanical work, the improvements support continued use while allowing an owner-operator to evaluate other commercial concepts.
For buyers seeking an owner-user facility, the current garage setup provides a straightforward foundation for maintaining or expanding automotive-related services. For investors or entrepreneurs, the oversized lot and existing shop building can support a range of automotive-focused tenancy strategies, depending on operational requirements and any future redevelopment plans.
Key Highlights
- 1954‑built commercial property at 268 W Lewis Ave in Ash Fork
- 0.33‑acre lot with fenced property and room for parking, storage, and expansion
- 744 SF metal‑roof building currently used as Cowper Garage / former community gas station
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
$14,368
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
4.11%
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%
$287,360
$287.4K
Cap Rate 7%
$205,257
$205.3K
Cap Rate 9%
$159,644
$159.6K
Market Conditions
NOI Build-Up for 744 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
$21.6K $29.04/SF
− Vacancy
−$1.1K −$1.45/SF
EGI
$20.5K $27.59/SF
− OpEx
−$6.2K −$8.28/SF
NOI
$14.4K $19.31/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
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%
$287,360
Cap Rate 7%
$205,257
Cap Rate 9%
$159,644
Alternative Uses
Best Use
Industrial
$205.3K
$179.6K – $239.5K
NOI $14,368 @ 7.0% cap · market cap 4.11%
Second Best
Retail
$184.2K
$161.2K – $215.0K
NOI $12,897 @ 7.0% cap · market cap 3.68%
Theoretical Best
Warehouse
$249.2K
$218.1K – $290.8K
NOI $17,447 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
5,091 visits/mo
0.2 miles
Family Dollar
Shops & Services
3,472 visits/mo
0.2 miles
Demographics for 86320, AZ
2,111
Population
1,349
Households
1.6
Avg Household Size
55
Median Age
13%
College-Educated
82%
High-School Grad
806.8 sq mi
ZIP Area
3
Density / Sq Mi
$43,553
Median Household Income
$41,131
Median Earnings
$1,063
Median Rent
$186,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Murphys Truck Repair — 46467 N Murphy Ave, Ash Fork, AZ 86320
- Cowper Garage — 268 Lewis Ave, Ash Fork, AZ 86320
Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding 744 sq ft garage on a 0.33-acre lot, suited for automotive or mechanical operations in Ash Fork.
Where is this auto shop located?
The property is located at 268 W Lewis Avenue Ash Fork, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1954‑built commercial property at 268 W Lewis Ave in Ash Fork; 0.33‑acre lot with fenced property and room for parking, storage, and expansion; 744 SF metal‑roof building currently used as Cowper Garage / former community gas station
