Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    320 Lee Ave Bullhead City, AZ 86429

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    79-unit multifamily property in Bullhead City, Arizona.

    Lot size:
    2.50 Acres

    Property Features for 320 Lee Ave

    General Information

    Standard status
    Active
    Lot size
    2.50 Acres

    Building Details

    Year built
    1984

    We can help!

    Listing Contact
    Richard Butler
    Source: Crexi

    Listing Agency: Marcus & Millichap - Phoenix Listing Agent: Richard Butler

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Sunrise Suites Multifamily Opportunity

    Sunrise Suites presents an opportunity to acquire a 79-unit multifamily property located in Bullhead City, Arizona. Bullhead City is situated on the east bank of the Colorado River, near the juncture of Arizona, California, and Nevada. The city serves as the economic and retail hub of Mohave County and Clark County, where Laughlin, Nevada, is located. The area experiences approximately 300 sunny days a year. Laughlin, with its resort and gaming industry, is located just 5 minutes west of the property. The Colorado River offers opportunities for water sports, golf, and fishing. Winter visitor activity in Bullhead City is also a growing phenomenon.
    Location Intelligence

    Current Use by Public Records

    Primo Water Refill Big Box & Wholesale Store Sunrise Apartments Vacation Rental

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Dental Office Nail Salon Building Supply Gym & Fitness Center Accounting Firm Skin Care Clinic Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Bullhead City
    County
    Mohave
    State
    Arizona
    Longitude
    -114.56586
    Latitude
    35.147545

    Nearby Similar for Sale

    • $525,000
      0.19 Acres

      Well-Maintained Fourplex Near Colorado River

      Fourplex in Bullhead City near the Colorado River.
      2146 Riviera Blvd, Bullhead City, AZ 86442
      View Details
    • $369,000
      0.21 Acres

      Charming Duplex in Bullhead City

      Well-maintained duplex with income potential in a prime location.
      362 Riverfront Dr, Bullhead City, AZ 86442
      View Details
    • $389,900
      1,840 SF

      Charming Duplex in Bullhead City

      Well-maintained duplex with income potential in a sought-after neighborhood.
      362 Riverfront Dr, Bullhead City, AZ 86442
      View Details
    • $89,900
      0.04 Acres

      Riverview Resort Lot with RV

      Lot in 55+ community with RV, near Colorado River.
      2000 Ramar Rd, Bullhead City, AZ 86442
      View Details
    • New
      $399,900
      Pending

      Bullhead City Fourplex Investment

      Well-maintained fourplex in Bullhead City with immediate cash flow.
      793 Baseline Rd, Bullhead City, AZ 86442
      View Details
    • $1,300,000
      Pending

      Renovated 8-Plex Multifamily Property

      Turnkey 8-unit multifamily property, recently renovated, income-producing.
      1772 Rio Grande Rd, Bullhead City, AZ 86442
      View Details
    • New
      $6,500,000
      2.87 Acres

      Riverfront Multi-Unit Development Opportunity

      2.87-acre riverfront property near Harrah's Casino in Bullhead City.
      491 Moser Ave, Bullhead City, AZ 86429
      View Details
    • $1,790,000
      0.72 Acres

      Waterfront Multifamily Property on Colorado River

      Renovated 6-unit property with boat dock on Colorado River.
      437 Riverfront Dr, Bullhead City, AZ 86442
      View Details
    • $79,000
      0.06 Acres

      Oversized Corner RV Lot

      Rare, private RV lot with upgrades in gated resort.
      2000 Ramar Rd, Bullhead City, AZ 86442
      View Details
    • New
      $75,000
      0.07 Acres

      Premium RV Lot in Bullhead

      RV lot in 55+ resort community with many amenities.
      2330 Cortez Ln, Bullhead City, AZ 86442
      View Details
    • $495,000
      Pending

      Multifamily Property Near Colorado River

      Multifamily property near the Colorado River with strong rental potential.
      2135 3Rd St, Bullhead City, AZ 86429
      View Details
    • $80,000
      0.08 Acres

      Vista Del Sol RV Lot

      RV lot in 55+ gated community with resort amenities.
      2342 Cortez Ln, Bullhead City, AZ 86442
      View Details

    FAQs

    What type of property is this?
    Apartment building - 79-unit multifamily property in Bullhead City, Arizona.
    Where is this apartment building located?
    The property is located at 320 Lee Ave Bullhead City, AZ.
    What are key features of this property?
    This property features: - 79-unit apartment complex; - Located in Bullhead City, AZ; - Proximity to the Colorado River
    Request Owner's contact information
    320 Lee Ave Bullhead City, AZ 86429
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    320 Lee Ave
    Bullhead City, AZ 86429
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    320 Lee Ave Bullhead City, AZ 86429
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Richard Butler
    Real Estate License ID: SA031210000
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!