Retail and Office Building with
For Sale
Contact for pricing
2701 East Andy Devine Avenue, Kingman, AZ 86401
Large retail and office building currently at 100% occupancy, with an owner-led split plan and approximately 80 parking spaces.
Property Size18,111 SF
Lot Size1.75 Acres
Price / SF$110.15
Days on Market54
Property Features for 2701 East Andy Devine Avenue
General Information
Standard status
Active
Size
18,111 SF
Class
C
Total Parking Spaces
80
Lot size
1.75 Acres
Property subtype
Retail, Office
Zoning
C-3
Occupancy
100%
Lease Type
Gross
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Year Built
1972
Year Renovated
2021
Buildings
1
Units
11
Tenancy
Multi
Listing Agency:
Sperry Commercial Global Affiliates Henderson
(702) 497-7071
Listed By:
David Patterson · License #SE 014127000
Source:
Crexi
Added: Jul 8
Changed: Aug 25
Last Checked: Aug 29 at 8:34AM
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 Sperry Commercial Global Affiliates Henderson
Investment Insights
Based on property information with market context.
This large retail and office building is currently leased with 100% occupancy. The owner is in the process of splitting the building, with a front portion being separated from the back. The resulting lot for the split is expected to be approximately 1.75 acres with close to 80 parking spaces, with any closing contingent on the final split.
The property is on the northern edge of Kingman, Arizona, and Kingman is located at the intersection of Interstate 40 and U.S. 93. The area’s leading industries include tourism and manufacturing, and the fully developed Airport Industrial Park draws manufacturers seeking reasonable land costs and opportunities to build regional trade and service centers.
For buyers or tenants evaluating this asset, the key operational point is that the building is designed to support both retail and office use, with parking available to support day-to-day customer and business access.
The property is on the northern edge of Kingman, Arizona, and Kingman is located at the intersection of Interstate 40 and U.S. 93. The area’s leading industries include tourism and manufacturing, and the fully developed Airport Industrial Park draws manufacturers seeking reasonable land costs and opportunities to build regional trade and service centers.
For buyers or tenants evaluating this asset, the key operational point is that the building is designed to support both retail and office use, with parking available to support day-to-day customer and business access.
Key Highlights
- Large retail and office building built in 1972 with 100% occupancy
- Owner has leased the building with strong tenants; building is suitable for multiple business types
- Owner is in the process of splitting the building with the front building
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
$175,903
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
8.82%
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%
$3,518,060
$3.5M
Cap Rate 7%
$2,512,900
$2.5M
Cap Rate 9%
$1,954,478
$2.0M
Market Conditions
NOI Build-Up for 18,111 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
$271.7K $15.00/SF
− Vacancy
−$20.4K −$1.13/SF
EGI
$251.3K $13.88/SF
− OpEx
−$75.4K −$4.16/SF
NOI
$175.9K $9.71/SF
Area
Mohave County, AZ
Vacancy
7.50%
Lease Rate
$15.00 /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%
$3,518,060
Cap Rate 7%
$2,512,900
Cap Rate 9%
$1,954,478
Alternative Uses
Best Use
Office B
$2.87M
$2.51M – $3.35M
NOI $200,896 @ 7.0% cap · market cap 10.07%
Second Best
Retail
$2.51M
$2.20M – $2.93M
NOI $175,903 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$4.04M
$3.54M – $4.72M
NOI $283,053 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 86401, AZ
27,684
Population
13,662
Households
2
Avg Household Size
48
Median Age
18%
College-Educated
92%
High-School Grad
1,226.3 sq mi
ZIP Area
23
Density / Sq Mi
$64,087
Median Household Income
$40,678
Median Earnings
$1,045
Median Rent
$247,300
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?
Retail space - Large retail and office building currently at 100% occupancy, with an owner-led split plan and approximately 80 parking spaces.
Where is this retail space located?
The property is located at 2701 East Andy Devine Avenue Kingman, AZ.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Large retail and office building built in 1972 with 100% occupancy; Owner has leased the building with strong tenants; building is suitable for multiple business types; Owner is in the process of splitting the building with the front building
