Remodeled
For Sale
$419,850
Lakeside, AZ 85929, Lakeside, AZ 85929
Commercial Sale, Lakeside, AZ
Property Size2,375 SF
Price / SF$176.78
Days on Market142
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Lakeside Townsi
Directions
Corner of White Mountain Blvd and Johnson
Standard status
Active
APN
212-28-047
Size
2,375 SF
Taxes and HOA fees
Tax Description
To follow in Escrow
Legal Description
To follow in Escrow
Building Details
Year built
1976
Listing Agency:
Frank M. Smith & Associates - Main
(928) 369-4000
Listed By:
Dean Nelson · License #SA108335000
(928) 521-0215
Added: May 8
Changed: Sep 3
Last Checked: Sep 26 at 12:06AM
MLS# 261049
Copyright © 2026 White Mountain Association of Realtors. 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 duplex contains 2,375 square feet and was remodeled in 2024. Originally built in 1976, the property offers two separate residential units within a compact multifamily configuration, supporting occupancy of one unit while renting the other or leasing both.
The property is positioned in downtown Lakeside at the corner of White Mountain Blvd and Johnson, with highway frontage. Zoning is designated R-3/C-1, providing the stated residential and commercial zoning classifications for the site.
The property is positioned in downtown Lakeside at the corner of White Mountain Blvd and Johnson, with highway frontage. Zoning is designated R-3/C-1, providing the stated residential and commercial zoning classifications for the site.
Key Highlights
- 2,375‑square‑foot duplex
- Remodeled in 2024
- Built in 1976
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
$18,802
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
4.48%
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%
$376,040
$376.0K
Cap Rate 7%
$268,600
$268.6K
Cap Rate 9%
$208,911
$208.9K
Market Conditions
NOI Build-Up for 2,375 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
$29.1K $12.24/SF
− Vacancy
−$2.2K −$0.93/SF
EGI
$26.9K $11.31/SF
− OpEx
−$8.1K −$3.39/SF
NOI
$18.8K $7.92/SF
Area
Navajo County, AZ
Vacancy
7.60%
Lease Rate
$12.24 /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%
$376,040
Cap Rate 7%
$268,600
Cap Rate 9%
$208,911
Alternative Uses
Best Use
Multifamily LT 5
$268.6K
$235.0K – $313.4K
NOI $18,802 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$239.0K
$209.1K – $278.8K
NOI $16,728 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$645.4K
$564.7K – $753.0K
NOI $45,178 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
Explore this area
Business Placement
Demographics for 85929, AZ
8,040
Population
5,089
Households
1.6
Avg Household Size
51
Median Age
23%
College-Educated
88%
High-School Grad
34.1 sq mi
ZIP Area
236
Density / Sq Mi
$56,837
Median Household Income
$36,535
Median Earnings
$1,117
Median Rent
$250,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Corner property with highway frontage and R-3/C-1 zoning.
Where is this duplex located?
The property is located at Lakeside, AZ.
What is the asking price?
The asking price for this property is $419,850.
What are key features of this property?
This property features: 2,375‑square‑foot duplex; Remodeled in 2024; Built in 1976
