Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Lot in Salome, AZ Title is generated by Realmo AI

    40501 Fairway Dr, Salome, AZ 85348

    View on Map
    Claim this Listing
    For Sale
    $75,000

    LAND - Salome, AZ

    Lot size:
    0.37 Acres
    Added:
    Nov 13, 2025
    Days on Market:
    192
    Last Refresh:
    May 24 at 8:06 am

    Property Features for 40501 Fairway Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    304-79-003
    Lot size
    0.37 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SUBDIVISION: MONROE HEIGHTS UNIT 1 LOT: 1 AND 1 SHARE ROADS, DRAINAGE & WELL SYSTEM SECTION: 26 TOWNSHIP: 05N RANGE: 13W
    Tax Annual Amount
    170

    We can help!

    Listing Contact
    Chonna Marshall
    Chonna Marshall

    Listing agent Chonna Marshall License #BR030556000

    Listing office United Country CB Real Estate Services 1304 W Arizona Ave, Parker, AZ

    Listing date Nov 13, 2025

    MLS# 1038115 Listing URL

    Copyright © 2026 Lake Havasu Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • .38 Acre Residential Lot ready for your dream home.
    • Electric and Septic are already installed.
    • Two Storage Sheds and Carport Included for your convenience.
    • Suitable for RV or Mobile Home.
    • Located just off Monroe Street on Fairway.
    • Monroe Heights subdivision with shared roads and drainage.

    Overview

    This residential lot, spanning 0.37 acres, is located just off Monroe Street on Fairway Drive in Salome, Arizona. Situated within the Monroe Heights subdivision, the property benefits from shared roads, drainage, and a well system that requires water to be hauled from a central point. The lot features existing electric and septic installations. Onsite amenities include two storage sheds and a carport spanning between them. This setup could be suitable for a winter visitor with an RV or for placing a mobile home.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Salome
    County
    La Paz
    State
    Arizona
    Longitude
    -113.589778
    Latitude
    33.746622

    Nearby Similar for Sale

    • $300,000
      4,617 SF

      Renovated Commercial Building on Highway

      Renovated commercial building in Salome, Arizona, with flexible use options.
      66695 Highway 60, Salome, AZ 85348
      View Details
    • $149,000
      1,120 SF

      Highway 60 Commercial Property

      Commercial property on Highway 60 with multiple rooms and amenities.
      66599 Highway 60, Salome, AZ 85348
      View Details
    • $400,000

      79.95 Acres on Salome Hwy

      79.95 acres with 3000 feet of frontage on Salome Hwy.
      80376 SALOME Road, Salome, AZ 85348
      View Details
    • $485,000
      2,593 SF

      Salome, AZ Commercial Building

      Three-unit apartment building with one office in prime location.
      66850 Highway 60, Salome, AZ 85348
      View Details
    • $159,000

      Salome, AZ Land with Garage

      Corner lot with metal garage/workshop and RV hookups.
      66850 Senora Dr, Salome, AZ 85348
      View Details
    • $550,000
      5,544 SF

      Established Grocery Store and Shop

      Thriving grocery store and sandwich shop in Brenda, Arizona.
      41625 Highway 60, Salome, AZ 85348
      View Details
    • $899,000

      38.9 Acres in Salome, AZ

      38.9 acres of level Arizona land with road access.
      W Salome Road, Salome, AZ 85348
      View Details
    • $429,900

      Commercial Land in Salome, Arizona

      20-acre commercial land parcel with utilities in Salome, AZ.
      38304 Harquahala Rd, Salome, AZ 85348
      View Details
    • $59,000

      Commercial Land on Salome Road

      C-2 commercial land with high-visibility frontage on Salome Road.
      67192 Salome Road lot: 2, Salome, AZ 85348
      View Details
    • $59,000

      Commercial Land on Salome Road

      High-visibility commercial land with flexible potential in La Paz County.
      67192 Salome Road lot: 1, Salome, AZ 85348
      View Details
    • $59,000

      Commercial Land on Salome Road

      High-visibility commercial land with flexible potential in La Paz County.
      67192 Salome Road lot: 4, Salome, AZ 85348
      View Details
    • $295,000

      Commercial Land on Salome Road

      Prime commercial land with high visibility and flexible potential.
      67192 Salome Road, Salome, AZ 85348
      View Details

    FAQs

    What type of property is this?
    Land - Residential lot with electric, septic, and storage sheds.
    Where is this land located?
    The property is located at 40501 Fairway Dr Salome, AZ.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: .38 Acre Residential Lot ready for your dream home.; Electric and Septic are already installed.; Two Storage Sheds and Carport Included for your convenience.
    (928) 669-8969
    We can help!
    Listing Contact
    Chonna Marshall
    Chonna Marshall
    Real Estate License ID: BR030556000
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    40501 Fairway Dr, Salome, AZ 85348
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!