Flex Space with Service
For Sale
$347,500
407 E Main Street, San Manuel, AZ 85631
COMMERCIAL - San Manuel, AZ
Property Size5,400 SF
Lot Size2.42 Acres
Price / SF$64.35
Days on Market52
Property Features for 407 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Pinal County - CR3
Fencing
Chain Link
Lot features
Corner Lot
Subdivision
Pinal
Standard status
Active
APN
307-08-400A
Size
5,400 SF
Lot size
2.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Saguaro Subd: Lts 8 9 & 10 Sec 4-10S-17E 2.42 Ac
Tax Annual Amount
5754
Legal Description
Saguaro Subd: Lts 8 9 & 10 Sec 4-10S-17E 2.42 Ac
Utilities
Heating system
Propane (Heating)
Cooling system
Evaporative Cooling
Water source
Public
Amenities
14'-18' clear height
12' & 14' roll up doors (4)
1200 amps 240/120 3 phase power
Newer HVAC unit for the office/apartment space
Evap in the Main shop
Building Details
Year built
1995
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Tierra Antigua Realty
(520) 318-5290
Listed By:
Esther H Empens
(520) 271-5585
Added: Jun 17
Changed: Aug 4
Last Checked: Aug 7 at 1:06AM
MLS# 22615427
Copyright © 2026 Multiple Listing Service of Southern Arizona. 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 5,400-square-foot flex property combines service-oriented workspace with office and apartment space. The building offers 14'-18' clear height, four roll-up doors measuring 12' and 14', and 1200 amps of 240/120 three-phase power. Office areas are served by a newer HVAC unit, while the main shop uses evaporative cooling.
Set on a 2.42-acre lot at 407 E Main Street in San Manuel, the property has a metal roof, metal siding, chain-link fencing, public water, and propane heating. The source information identifies potential applications including auto repair, rental, bar, nightclub, light manufacturing or assembly, and wholesale.
Set on a 2.42-acre lot at 407 E Main Street in San Manuel, the property has a metal roof, metal siding, chain-link fencing, public water, and propane heating. The source information identifies potential applications including auto repair, rental, bar, nightclub, light manufacturing or assembly, and wholesale.
Key Highlights
- 5,400‑square‑foot flex property on a 2.42‑acre lot
- 14'-18' clear height for service and industrial operations
- Four roll‑up doors in 12' and 14' sizes
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
$29,518
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
8.49%
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%
$590,360
$590.4K
Cap Rate 7%
$421,686
$421.7K
Cap Rate 9%
$327,978
$328.0K
Market Conditions
NOI Build-Up for 5,400 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
$51.8K $9.60/SF
− Vacancy
−$6.4K −$1.19/SF
EGI
$45.4K $8.41/SF
− OpEx
−$15.9K −$2.94/SF
NOI
$29.5K $5.47/SF
Area
Pinal County, AZ
Vacancy
12.40%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
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%
$590,360
Cap Rate 7%
$421,686
Cap Rate 9%
$327,978
Alternative Uses
Best Use
Office B
$1.06M
$931.1K – $1.24M
NOI $74,484 @ 7.0% cap · market cap 21.43%
Second Best
Retail
$757.4K
$662.7K – $883.6K
NOI $53,015 @ 7.0% cap · market cap 15.26%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,502 @ 7.0% cap · market cap 30.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85631, AZ
3,179
Population
1,602
Households
2
Avg Household Size
46
Median Age
11%
College-Educated
88%
High-School Grad
118.6 sq mi
ZIP Area
27
Density / Sq Mi
$47,969
Median Household Income
$31,315
Median Earnings
$740
Median Rent
$112,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-use facility includes office space, service areas, roll-up access, and three-phase electrical service.
Where is this flex space located?
The property is located at 407 E Main Street San Manuel, AZ.
What is the asking price?
The asking price for this property is $347,500.
What are key features of this property?
This property features: 5,400‑square‑foot flex property on a 2.42‑acre lot; 14'-18' clear height for service and industrial operations; Four roll‑up doors in 12' and 14' sizes
