1701 White Mtn BlvdPinetop-Lakeside, AZ 85935

Property Details for 1701 White Mtn Blvd

Year built

1967

Construction

STEEL FRAME

Lot size

0.25 AC

Property size (Sq ft)

11,162 SF

Zone code

MUNICIPAL

Property type

Turn key restaurants

APN

311-46-020A

APU

31146020A

Description

This exceptional investment opportunity encompasses the renowned Charlie Clark's Steakhouse, established in 1938 and one of Arizona's oldest restaurants. The sale includes the 15,000 sq ft restaurant with seven dining areas, a bar, private meeting rooms, and offices, capable of seating 300 guests. Also included is "The Orchard," a premier outdoor entertainment venue operating seasonally from Memorial Day to Labor Day. A separate 3,800 sq ft retail space, currently leased, is situated adjacent to the restaurant, along with two electric vehicle charging stations. A multi-tenant building featuring three apartments and retail/warehouse space completes the offering. The property sits on a 4.63-acre lot, with a total net rentable area of 13,000 sq ft across three buildings, boasting 95% occupancy and a 5.24% cap rate, generating a NOI of $303,964. The property features a mix of C-1 zoned buildings constructed between 1933 and 1974, extensively renovated in 2023. The asking price is $5,800,000, with a land value of $5 per square foot. This unique offering presents a compelling blend of established business, rental income, and significant growth potential in the vibrant Pinetop-Lakeside, Arizona market. The property includes six tenants in total and five individual units.

• CAP approach

  CAP return

  Valuation

  6%

  $1,979,300

  6.5%

  $1,827,050

  7%

  $1,696,550

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,931,650

  Geo Method

  $1,931,650

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,571,780

  Mixed-Use / Specialty

  $1,816,960

  Hospitality / Lodging

  $1,328,380

  Office

  $1,802,430

  Institutional / Educational

  $1,887,620

  Residential Income

  $2,208,520

  Multifamily

  $2,668,620

  Automotive / Energy

  $1,617,960

  Parking / Income-Based Land

  $561,876

  Restaurant / Food Service

  $937,372

  Healthcare / Senior Housing

  $1,866,920

Location Insight

City

Pinetop

County

Navajo

State

Arizona

Latitude

34.1256

Longitude

-109.936

CBSA code

43320

CBSA name

SHOW LOW, AZ MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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