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    185 N Grand Ave Nogales, AZ 85621
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    185 N Grand Ave Nogales, AZ 85621

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    • Retail space
    • 7,460 SF
    • 0.08 lot acres
    For Sale
    $300,000
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    Historical Mixed-Use Noon Building For Sale
    $300,000
    7,460 SF

    Historical Mixed-Use Noon Building

    Historical building near the border with business and office opportunities.

    185 N Grand Avenue, Nogales, AZ 85621
    View Listing
    Property ID
    US07-0833405
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Nevenerdys Gifts and Antiques / Home Decor Store / (Bike/Boat/Book/etc) Store

    Property Details for 185 N Grand Ave

    Year built
    2010
    Construction
    CONCRETE
    Lot size
    0.08 lot acres
    Property size
    7,460 SF
    Property type
    Retail space
    APN
    101-50-032
    APU
    10150032

    Description

    This exceptional 7,460 square foot retail property, situated at 185 N Grand Avenue in Nogales, Arizona, presents a unique investment opportunity. Built in 1910, this landmark building boasts a rich history and prime location just steps from the US-Mexico border, benefiting from the high daily foot traffic of shoppers, diners, and visitors exploring the vibrant downtown area. The property sits on a 0.08-acre lot and offers three ground-floor commercial spaces ideal for a variety of businesses. The substantial second floor comprises numerous rooms, perfectly suited for conversion into office spaces, providing significant versatility and potential for expansion. The building's historical character combined with its strategic location in a bustling commercial district makes it an attractive proposition for investors seeking a high-return property with significant redevelopment potential. The asking price for this remarkable piece of Nogales history is $300,000. This presents a rare chance to acquire a significant piece of Nogales' commercial landscape and capitalize on the consistent flow of pedestrian traffic in this thriving border town. The property's size and layout offer considerable flexibility for a range of business ventures, making it an ideal investment for both established businesses and ambitious entrepreneurs. Don't miss this opportunity to own a piece of Nogales' heritage and secure a prominent position in its dynamic commercial heart.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Nogales
    County
    Santa Cruz
    State
    Arizona
    Longitude
    -110.94
    Latitude
    31.3363
    CBSA code
    35700
    CBSA name
    NOGALES, 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
    0
    $0.00
    $1,966
    $22,476
    $24,442
    -
    $10,920
    $124,866
    $135,786

    Comparable in this City

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    • Value Estimation by Request
      4,580 SF

      65 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,580 SF
      65 Grand Ave, Nogales, AZ 85621-3210
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    • Value Estimation by Request
      16,980 SF

      176 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 16,980 SF
      176 Grand Ave, Nogales, AZ 85621-3211
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    • Value Estimation by Request
      1,395 SF

      803 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,395 SF
      803 Grand Ave, Nogales, AZ 85621
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    • Value Estimation by Request
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      694 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,352 SF
      694 Grand Ave, Nogales, AZ 85621-2214
      View Details
    • Value Estimation by Request
      13,870 SF

      142 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,870 SF
      142 Grand Ave, Nogales, AZ 85621-3211
      View Details

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      Historical Building Near Border

      Historical building with business opportunities near the border.
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      Retail Space on Mariposa Road

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      View Details
    View Listing
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    Nogales, AZ 85621
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    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.

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    185 N Grand Ave, Nogales, AZ, 85621
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