Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1515 Lk Havasu N Ave Lake Havasu City, AZ 86404-1177

    • Office buildings
    • 6,510 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2022
    $1,460,000
    Value Estimations
    $1,335,000
    Show details
    Cap Rate Potential
    6.6%
    Office buildings
    Location Intelligence
    Property ID
    US07-0483366
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Karen Olsavsky / Physician

    Property Details for 1515 Lk Havasu N Ave

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    0.43 lot acres
    Property size
    6,510 SF
    Zone code
    R3
    Property type
    Office buildings
    APN
    104-35-007
    APU
    10435007

    Description

    This exceptional 9,510-square-foot retail property, located at 1515 N Lake Havasu Ave in Lake Havasu City, Arizona (zip code 86404), presents a remarkable investment opportunity. Built in 2005, this single-story building sits on a 0.43-acre lot and boasts 1177 total parking spaces, providing ample convenience for customers and employees. Currently vacant, the space offers immense flexibility for a variety of commercial uses. Previously configured as a daycare, the property features multiple office spaces, five bathrooms, and two kitchenettes, along with a reception area. Each unit has both small and large offices and its own meter. The building also includes a substantial 3,000-square-foot garage, 60 feet wide by 50 feet deep, with a 7'x16' door, adding significant storage or operational space. The property's zoning is L-C-1 Limited Commercial, allowing for diverse possibilities. Its location is highly advantageous, just one block from Highway 95 at Palo Verde North. Potential uses include, but are not limited to, a salon, medical spa, preschool, after-school recreational center, four independent retail shops, or even a bar or restaurant. The property is offered for sale at $1,695,000 or lease at $9,000 per month on a triple net lease basis. Owner financing may be available. The Mohave County APN is 104-35-007.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,170,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,285,000
      6.5%
      $1,185,000
      7%
      $1,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,362,000
      Market price range: $158k - $1.36M
      AI Estimate
      $1,362,000
      Market price range: $158k - $1.36M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $940,000
      Current use
      AUTO REPAIR, GARAGE
      $1,435,000
      Change: +53% Conversion: Difficult
      RESTAURANT
      $1,430,000
      Change: +52% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,075,000
      Change: +14% Conversion: Easy
      MEDICAL BUILDING
      $935,000
      Change: -1% Conversion: Easy
      COMMERCIAL (GENERAL)
      $810,000
      Change: -14% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lake Havasu City
    County
    Mohave
    State
    Arizona
    Longitude
    -114.348
    Latitude
    34.5179
    CBSA code
    29420
    CBSA name
    LAKE HAVASU CITY-KINGMAN, AZ MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $11,538
    $0.00
    $0.00
    $394,888
    -
    $173,144
    $2,020,679
    $2,193,823

    Comparable in this City

    • Value Estimation by Request
      345 SF

      4800 London Brg Rd

      OFFICE BUILDING • 345 SF
      4800 London Brg Rd, Lake Havasu City, AZ 86404
      View Details
    • Value Estimation by Request
      875 SF

      2790 Kiowa N Blvd

      OFFICE BUILDING • 875 SF
      2790 Kiowa N Blvd, Lake Havasu City, AZ 86404-2673
      View Details
    • Value Estimation by Request
      0.29 Acres

      1745 Tradition Ln

      OFFICE BUILDING • 0.29 Acres
      1745 Tradition Ln, Lake Havasu City, AZ 86404-5980
      View Details
    • Value Estimation
      $595,000
      2,834 SF

      3317 Hwy 95th N

      OFFICE BUILDING • 2,834 SF
      3317 Hwy 95th N, Lake Havasu City, AZ 86404-9533
      View Details
    • Value Estimation by Request
      3,508 SF

      5665 Hwy 95th N

      MEDICAL CLINIC • 3,508 SF
      5665 Hwy 95th N, Lake Havasu City, AZ 86404-9646
      View Details
    • Value Estimation
      $1,205,000
      5,768 SF

      1100 London Brg Rdg10

      CONDOMINIUM OFFICES • 5,768 SF
      1100 London Brg Rdg10, Lake Havasu City, AZ 86404-2495
      View Details

    Similar Nearby for Sale

    • $175,000
      Pending

      Residential Land in Lake Havasu

      Single-family residential lot available in Lake Havasu City, Arizona.
      3041 Palo Verde Blvd S, Lake Havasu City, AZ 86404
      View Details
    • $165,000
      0.30 Acres

      Lake Havasu City Land

      Two adjacent level lots with lake views in Lake Havasu.
      3690 Garnet Cir, Lake Havasu City, AZ 86404
      View Details
    • $155,000
      0.27 Acres

      Lake Havasu City Vacant Land

      Vacant lot with lake views in Lake Havasu City.
      3295 Foothill Plz, Lake Havasu City, AZ 86404
      View Details
    • $469,000
      0.25 Acres

      Lake View Lot in Refuge

      Rare lake view lot in gated golf course community.
      1748 E Tradition Ln, Lake Havasu City, AZ 86404
      View Details
    • $225,000
      Pending

      RV Park with Storage Buildings

      RV park featuring storage, amenities, and recreational facilities.
      3493 E Heights Blvd, Lake Havasu City, AZ 86404
      View Details
    • $179,000
      0.19 Acres

      Lake Havasu City Land

      Level lot in gated community with amenities ready to build.
      1634 E Susan Dr, Lake Havasu City, AZ 86404
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      8,006 SF

      8,000 SF Flex Space, South LHC

      Modern Office/Warehouse, Excellent Condition
      1055 Empire Dr, Lake Havasu City, AZ 86404
      View Details
    • $5,065 /Mo
      30,000 SF

      New Warehouse Complex in Arizona

      New 8-unit warehouse complex with flexible space in Lake Havasu.
      2995 N Kiowa Blvd, Lake Havasu City, AZ 86404
      View Details
    • $275 SF/Yr
      1,791,623 SF

      Lake Havasu Storage Units

      Storage units for lease in Lake Havasu City, Arizona.
      14808 Admissions Way, Lake Havasu City, AZ 86404
      View Details
    • $14,900 /Mo
      9,763 SF

      Versatile Industrial Space Available

      9,763 sq ft light-industrial space in Lake Havasu City.
      1105 Aviation Dr, Lake Havasu City, AZ 86404
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1515 Lk Havasu N Ave
    Lake Havasu City, AZ 86404-1177
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.