Historic Restaurant Building with 3
For Sale
$995,000
72-78 Main Street, Bisbee, AZ 85603
COMMERCIAL - Bisbee, AZ
Property Size3,586 SF
Lot Size0.07 Acres
Price / SF$277.47
Days on Market185
Property Features for 72-78 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Bisbee - Call
Security features
Security Lighting
Lot features
Corner Lot
Directions
Located on Mainstreet next to Busy Bee public parking across from the Grand Hotel
Subdivision
Cochise
Standard status
Active
APN
103-62-430A
Size
3,586 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Sur To Depth Of 40' Loc On Copper Prince Mng Claim Survey #285 Wa Rren Mng Dist By M&B Beg At Nw Cor Copper Queen Mng Cl
Tax Annual Amount
3947
Legal Description
Sur To Depth Of 40' Loc On Copper Prince Mng Claim Survey #285 Wa Rren Mng Dist By M&B Beg At Nw Cor Copper Queen Mng Cl
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Evaporative Cooling
Building Details
Year built
1900
Building materials
Block
Roof type
Built-Up
Listing Agency:
Tierra Antigua Realty
(520) 439-8888
Listed By:
Denise Loth · License #SA642027000
(520) 366-2992
Added: Mar 1
Changed: Aug 18
Last Checked: Sep 2 at 3:06PM
MLS# 22605590
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 historic commercial building dates to circa 1900 and is configured under one roof as three restaurant spaces. Two suites are currently leased to established operators, and one large space is available and described as nearly turnkey.
The available suite includes a Type 1 10-ft hood with fire suppression, walk-in refrigerator with a new cooling system, commercial high heat dishwasher, deck oven, and grease trap system. Additional improvements noted include upgraded plumbing and electrical, a 200A service with dedicated circuits, new PEX main water line, dual 4-inch PVC waste lines, floor drains throughout, and 3- and 5-ton HVAC units. The space also features custom tile, white oak floors, and a skylight, along with bar infrastructure designed for water, power, and draft system capability.
The property is located on Main Street in the Bisbee Historic District, and is described as adjacent to one of the largest free public parking lots in town.
The available suite includes a Type 1 10-ft hood with fire suppression, walk-in refrigerator with a new cooling system, commercial high heat dishwasher, deck oven, and grease trap system. Additional improvements noted include upgraded plumbing and electrical, a 200A service with dedicated circuits, new PEX main water line, dual 4-inch PVC waste lines, floor drains throughout, and 3- and 5-ton HVAC units. The space also features custom tile, white oak floors, and a skylight, along with bar infrastructure designed for water, power, and draft system capability.
The property is located on Main Street in the Bisbee Historic District, and is described as adjacent to one of the largest free public parking lots in town.
Key Highlights
- Prime Main Street location in the Bisbee Historic District with high foot traffic and visibility, adjacent to a large public parking lot.
- Extensively renovated 3,586 sq ft historic commercial building (circa 1900) with substantial modern infrastructure upgrades.
- Currently configured as three restaurant spaces, with two spaces leased to established operators and one large, nearly turnkey space available.
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
$37,196
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
3.74%
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%
$743,920
$743.9K
Cap Rate 7%
$531,371
$531.4K
Cap Rate 9%
$413,289
$413.3K
Market Conditions
NOI Build-Up for 3,586 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
$53.8K $15.00/SF
− Vacancy
−$4.2K −$1.17/SF
EGI
$49.6K $13.83/SF
− OpEx
−$12.4K −$3.46/SF
NOI
$37.2K $10.37/SF
Area
Cochise County, AZ
Vacancy
7.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$743,920
Cap Rate 7%
$531,371
Cap Rate 9%
$413,289
Alternative Uses
Best Use
Specialty Retail
$531.4K
$465.0K – $619.9K
NOI $37,196 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
66.7%
Occupancy
Multi-tenant
Tenancy
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
7,137 visits/mo
0.4 miles
Demographics for 85603, AZ
6,342
Population
4,183
Households
1.5
Avg Household Size
55
Median Age
30%
College-Educated
90%
High-School Grad
227.6 sq mi
ZIP Area
28
Density / Sq Mi
$46,509
Median Household Income
$27,690
Median Earnings
$835
Median Rent
$204,900
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Historic commercial building on Main Street is configured as three restaurant spaces, with one large nearly turnkey suite available.
Where is this conventional restaurant located?
The property is located at 72-78 Main Street Bisbee, AZ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime Main Street location in the Bisbee Historic District with high foot traffic and visibility, adjacent to a large public parking lot.; Extensively renovated 3,586 sq ft historic commercial building (circa 1900) with substantial modern infrastructure upgrades.; Currently configured as three restaurant spaces, with two spaces leased to established operators and one large, nearly turnkey space available.
