Building Details

Year Built 1905

Stories 4

Listing Agency: SunHaven Real Estate j***@gmail.com Show Phone

Listed By: jessie pfeiffer · License #684596000

Source: Crexi

Added: Apr 13 Changed: Aug 30 Last Checked: Aug 30 at 5:39PM

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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 SunHaven Real Estate

Investment Insights

Based on property information with market context.

Built in 1905, this four-story mixed-use property contains approximately 2,400 square feet with a vertical arrangement that supports both commercial and residential occupancy. The lowest and highest levels are designated for commercial use, while the two intervening floors are zoned residential. Each level can be reached from Main Street and School Street. Recent exterior improvements include a metal roof and siding, and the building offers expansive views. Existing tenants occupy the property on month-to-month arrangements.

Key Highlights

• Four‑story building constructed in 1905
• Approximately 2,400 square feet of mixed‑use space
• Bottom and top floors zoned for commercial use

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

$41,604

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

4.27%

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%

$832,080 $832.1K

Cap Rate 7%

$594,343 $594.3K

Cap Rate 9%

$462,267 $462.3K

Market Conditions

NOI Build-Up for 2,400 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

$62.5K $26.04/SF

− Vacancy

−$3.1K −$1.28/SF

EGI

$59.4K $24.76/SF

− OpEx

−$17.8K −$7.43/SF

NOI

$41.6K $17.33/SF

Area

Yavapai County, AZ

Vacancy

4.90%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

30.00%

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%

$832,080

Cap Rate 7%

$594,343

Cap Rate 9%

$462,267

Alternative Uses

Best Use

Retail

$594.3K

$520.1K – $693.4K (±1% cap)

NOI $41,604 @ 7.0% cap · market cap 4.27%

Second Best

Mixed Use

$462.9K

$405.0K – $540.0K (±1% cap)

NOI $32,400 @ 7.0% cap · market cap 3.32%

Theoretical Best

Warehouse

$804.0K

$703.5K – $938.0K (±1% cap)

NOI $56,280 @ 7.0% cap · market cap 5.77%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Storefront properties

Location Intelligence

Trade Area within ½ mile

264

Businesses Nearby

Explore this area Business Placement

Demographics for 86331, AZ

515

Population

367

Households

1.4

Avg Household Size

57

Median Age

28%

College-Educated

100%

High-School Grad

6.6 sq mi

ZIP Area

78

Density / Sq Mi

$37,031

Median Household Income

$23,060

Median Earnings

$1,078

Median Rent

$312,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial and residential zoning span the building, with access from both Main Street and School Street.

Where is this mixed-use property located?

The property is located at 511 Main St Jerome, AZ.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Four‑story building constructed in 1905; Approximately 2,400 square feet of mixed‑use space; Bottom and top floors zoned for commercial use