Partially Developed Warehouse Land
For Sale
$476,000
44000 N 10th Street -, New River, AZ 85087
Hillside parcel with two Quonset hut structures and a drilled well, shown through a locked gate.
Property Size1,800 SF
Lot Size3.00 Acres
Price / SF$264.44
Days on Market32
Property Features for 44000 N 10th Street -
General Information
Standard status
Active
Size
1,800 SF
Lot size
3.00 Acres
Property subtype
Lots/Land
Additional Details
Clear Height
18 ft
Taxes and HOA fees
Annual Taxes
$983
Listing Agency:
Epique Realty
(602) 919-1490
Listed By:
Hyrum D Mosley · License #SA721833000
(602) 919-1490
Source:
Exitrealty
Added: Jul 9
Changed: Aug 8
Last Checked: Jul 12 at 2:20AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This partially developed hillside property spans approximately 3 acres and includes two Quonset hut structures measuring 30' x 30' x 18'. Structural drawings and engineering work have already been completed, and a well has been drilled (well equipment not installed). The parcel is positioned behind a locked gate and is shown with a licensed real estate agent.
Public remarks describe panoramic views extending past Circle Mountain Road toward the Tonto National Forest. The final address is to be determined.
Public remarks describe panoramic views extending past Circle Mountain Road toward the Tonto National Forest. The final address is to be determined.
Key Highlights
- 3‑acre hillside property in New River with panoramic views toward Circle Mountain Road and the Tonto National Forest
- Partially developed parcel includes two 30' x 30' x 18' Quonset hut structures for shop or storage use
- Structural drawings and engineering work have already been completed for planned development
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
$18,508
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
3.89%
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%
$370,160
$370.2K
Cap Rate 7%
$264,400
$264.4K
Cap Rate 9%
$205,644
$205.6K
Market Conditions
NOI Build-Up for 1,800 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
$25.1K $13.92/SF
− Vacancy
−$3.3K −$1.82/SF
EGI
$21.8K $12.10/SF
− OpEx
−$3.3K −$1.81/SF
NOI
$18.5K $10.28/SF
Area
Maricopa County, AZ
Vacancy
13.10%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
15.00%
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%
$370,160
Cap Rate 7%
$264,400
Cap Rate 9%
$205,644
Alternative Uses
Best Use
Warehouse
$264.4K
$231.4K – $308.5K
NOI $18,508 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,975 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 85087, AZ
9,853
Population
3,794
Households
2.6
Avg Household Size
45
Median Age
29%
College-Educated
93%
High-School Grad
87.1 sq mi
ZIP Area
113
Density / Sq Mi
$120,688
Median Household Income
$56,786
Median Earnings
$1,809
Median Rent
$510,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Hillside parcel with two Quonset hut structures and a drilled well, shown through a locked gate.
Where is this residential land & home lot located?
The property is located at 44000 N 10th Street - New River, AZ.
What is the asking price?
The asking price for this property is $476,000.
What are key features of this property?
This property features: 3‑acre hillside property in New River with panoramic views toward Circle Mountain Road and the Tonto National Forest; Partially developed parcel includes two 30' x 30' x 18' Quonset hut structures for shop or storage use; Structural drawings and engineering work have already been completed for planned development
