Multi-Family Zoned Development
For Sale
$150,000
3569 E VENICE Drive, Williams, AZ 86046
COMMERCIAL - Williams, AZ
Property Size1,000 SF
Lot Size2.50 Acres
Price / SF$150
Days on Market419
Property Features for 3569 E VENICE Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Williams: /Hwy 64 / Hwy 180 Hwy 180, turn Right on Santa Clara, Turn Left on Venice Dr. Follow Venice Dr to both parcels 3535 and 3569 Flagstaff: Take Hwy 180 to Santa Clara Rd and make a left on Venice Rd
Standard status
Active
APN
501-11-034
Size
1,000 SF
Lot size
2.50 Acres
Utilities
Heating system
Propane (Heating)
Cooling system
Ceiling Fan(s)
Listing Agency:
Russ Lyon Sotheby's International Realty
(480) 287-5200
Listed By:
Shena Lee Korn · License #SA550964000
(602) 616-3415
Added: Jul 20, 2025
Changed: Aug 7
Last Checked: Sep 11 at 10:06PM
MLS# 6895161
Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. 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.
For sale is a multi-family development parcel in Northern Arizona totaling approximately 2.5 acres and comprised of two RM-10/A Multiple-Family Residential zoned parcels. The RM-10/A district is intended to accommodate medium-density residential development, including apartments, condominiums, townhomes, and other group dwellings. The offering contemplates a maximum allowable density of up to 10 dwelling units per acre, for potential development of up to approximately 25 residential dwelling units, subject to Coconino County approval, engineering, site design, and utilities.
APS electric service is located directly across Highway 180. Conceptual development site plans are available and show one possible way to incorporate four included cabin structures into an overall development layout. The property is approximately 30 minutes from Historic Route 66 in Williams and about 45 minutes from Flagstaff.
Two APNs are included: 50111034 and 50111035.
APS electric service is located directly across Highway 180. Conceptual development site plans are available and show one possible way to incorporate four included cabin structures into an overall development layout. The property is approximately 30 minutes from Historic Route 66 in Williams and about 45 minutes from Flagstaff.
Two APNs are included: 50111034 and 50111035.
Key Highlights
- Approximately 2.5 acres comprised of two RM‑10/A Multiple‑Family Residential zoned parcels (APNs 50111034 and 50111035).
- RM‑10/A zoning allows up to 10 dwelling units per acre for an estimated potential for up to ~25 residential units (subject to County approval and design/engineering).
- APS electric service is located directly across Highway 180.
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
$8,465
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
5.64%
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%
$169,300
$169.3K
Cap Rate 7%
$120,929
$120.9K
Cap Rate 9%
$94,056
$94.1K
Market Conditions
NOI Build-Up for 1,000 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
$16.2K $16.20/SF
− Vacancy
−$810 −$0.81/SF
EGI
$15.4K $15.39/SF
− OpEx
−$6.9K −$6.93/SF
NOI
$8.5K $8.46/SF
Area
Coconino County, AZ
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$169,300
Cap Rate 7%
$120,929
Cap Rate 9%
$94,056
Alternative Uses
Best Use
Apartment 5plus
$120.9K
$105.8K – $141.1K
NOI $8,465 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$276.5K
$241.9K – $322.5K
NOI $19,352 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 86046, AZ
6,310
Population
3,572
Households
1.8
Avg Household Size
48
Median Age
21%
College-Educated
90%
High-School Grad
917.4 sq mi
ZIP Area
7
Density / Sq Mi
$74,583
Median Household Income
$38,616
Median Earnings
$1,186
Median Rent
$367,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Two RM-10/A parcels offer up to 25 dwelling units, plus four cabin structures included, subject to county approvals.
Where is this residential land & home lot located?
The property is located at 3569 E VENICE Drive Williams, 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: Approximately 2.5 acres comprised of two RM‑10/A Multiple‑Family Residential zoned parcels (APNs 50111034 and 50111035).; RM‑10/A zoning allows up to 10 dwelling units per acre for an estimated potential for up to ~25 residential units (subject to County approval and design/engineering).; APS electric service is located directly across Highway 180.
