Building Details

Year Built 1905

Stories 4

Listing Agency: SunHaven Real Estate

Listed By: jessie pfeiffer · License #684596000 Show Phone

Source: Crexi

Added: Apr 13 Changed: Oct 4 Last Checked: Oct 14 at 11:27PM

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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

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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 / Yr

$41,604

Cap Rate

4.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$832,080 $832.1K

Cap Rate 7%

$594,343 $594.3K

Cap Rate 9%

$462,267 $462.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

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 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 4.36%

Second Best

Mixed Use

$462.9K

$405.0K – $540.0K (±1% cap)

NOI $32,400 @ 7.0% cap · market cap 3.39%

Theoretical Best

Warehouse

$804.0K

$703.5K – $938.0K (±1% cap)

NOI $56,280 @ 7.0% cap · market cap 5.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

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

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 $955,000.

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