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4220 N Granada Dr, Eloy, AZ 85131
Apartment buildings
Property Size6,864 SF
Price / SF$138.11
Days on Market168
Property Features for 4220 N Granada Dr
General Information
Standard status
Active
Size
6,864 SF
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$62,195
Building Details
Year Built
1964
Buildings
3
Stories
1
Units
24
Listing Agency:
LevRose Real Estate
Listed By:
Eric Hegarty · License #SA 650759000
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 12 at 6:39AM
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 LevRose Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- Residential financing opportunity for 12 units across 3 parcels.
- Diverse unit mix: 4 two‑bedroom, 4 one‑bedroom, and 4 studio apartments.
- Potential for increased rental income** with month‑to‑month leases and market rents exceeding current rates (2BR $850+, 1BR $700+, Studios $550+).
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
$54,003
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
5.70%
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%
$1,080,060
$1.1M
Cap Rate 7%
$771,471
$771.5K
Cap Rate 9%
$600,033
$600.0K
Market Conditions
NOI Build-Up for 6,864 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
$111.2K $16.20/SF
− Vacancy
−$13.0K −$1.90/SF
EGI
$98.2K $14.30/SF
− OpEx
−$44.2K −$6.44/SF
NOI
$54.0K $7.87/SF
Area
Pinal County, AZ
Vacancy
11.70%
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%
$1,080,060
Cap Rate 7%
$771,471
Cap Rate 9%
$600,033
Alternative Uses
Best Use
Apartment 5plus
$771.5K
$675.0K – $900.1K
NOI $54,003 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,834 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 85131, AZ
16,723
Population
5,381
Households
3.1
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
306.7 sq mi
ZIP Area
55
Density / Sq Mi
$55,137
Median Household Income
$26,957
Median Earnings
$940
Median Rent
$243,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this apartment building located?
The property is located at 4220 N Granada Dr Eloy, AZ.
What is the asking price?
The asking price for this property is $948,000.
What are key features of this property?
This property features: Residential financing opportunity for 12 units across 3 parcels.; Diverse unit mix: 4 two‑bedroom, 4 one‑bedroom, and 4 studio apartments.; Potential for increased rental income** with month‑to‑month leases and market rents exceeding current rates (2BR $850+, 1BR $700+, Studios $550+).
