$1,350,000
Prescott, AZ 86301
MLS# 987304
Status: Closed
3 baths | 10000 sqft
1 / 6
Property Description
Excellent Owner/User and/or Investment Opportunity (Pro-Forma Going-in Cap at 6.8%) with upside in rents. Purchase this 10,000 sf high traffic retail/residential building in heart of downtown Prescott. Offered at $1,500,000 and situated on .17 acres of prime downtown business zoned land, this building offers great frontage, visibility and signage on Cortez St. The current Antique Mall tenant occupies approx. 7,500 sf. and will be vacating in the near future. In addition, enjoy the spacious 2,500 sf residence located directly east and behind the commercial building off alley way. Owner may carry with approval of Buyer’s financials/credit.
Details
Maps
Contract/Address/Legal
List Price/SqFt: 150
Comm Type: Retail
REO/Short Sale: Not Applicable
Zoning: DTB
Zoning Description: Downtown Business`
Business Type: Retai & Residential
Assessor's Book #: 113
Assessor's Map #: 16
Assessor's Parcel #: 59
Legal: PRESCOTT LOT 16 BLK 9 567/383
General Property Description
Buildings: 1
Source of Measuremnt: Owner
Stories: 1
Parking Spaces: 3
Management: Owner
Vac Rate %: 0
CAM $: 2.5
GRM: 14.7
CC & R: No
Property Use: Investment Prop
Construction Status: Existing
Space Available: Yes
Total Liveable SqFt: 10000
Year Built: 1944
NOI $: 102000
Cap %: 6.8
Baths - Full: 2
Total Bathrooms: 3
Tax Info
Taxes: 4729
Tax Year: 2014
Remarks & Misc
Directions: From the Downtown Courthouse Square, Head North on Cortez, Building on Right, look for the Pennington’s sign.
Remarks: Excellent Owner/User and/or Investment Opportunity (Pro-Forma Going-in Cap at 6.8%) with upside in rents. Purchase this 10,000 sf high traffic retail/residential building in heart of downtown Prescott. Offered at $1,500,000 and situated on .17 acres of prime downtown business zoned land, this building offers great frontage, visibility and signage on Cortez St. The current Antique Mall tenant occupies approx. 7,500 sf. and will be vacating in the near future. In addition, enjoy the spacious 2,500 sf residence located directly east and behind the commercial building off alley way. Owner may carry with approval of Buyer’s financials/credit.
Status Change Info
Sold Price/SqFt: 135
Financing: Cash
Under Contract Date: 2015-12-02
Sold Date: 2015-12-02
Sold Price: $1,350,000
Building Type
2-4 Units: 1
Retail - Free Stand: 1
Other - See Remarks: 1
Construction
Block/Brick: 1
Stucco: 1
Cooling
Central Air: 1
Evaporative Cooling: 1
External Amenities
Handicap Access: 1
Other - See Remarks: 1
Flooring
Carpet: 1
Vinyl: 1
Wood: 1
Heating
Natural Gas: 1
Possession
At Recordation: 1
Records Available
Other - See Remarks: 1
Road Responsibility
City: 1
City Maintained Road: 1
Roof
Welded Membrane: 1
Bathrooms
Unisex: 1
Business Location
Freestanding Bldg: 1
Terms & Conditions
Conventional: 1
Commercial Amenities
Ceiling Ht. 12-15: 1
Utilities Installed
Electricity: 1
Natural Gas: 1
Telephone: 1
Water - City: 1
WWT - City Sewer: 1
Internal Amenities
Other - See Remarks: 1
Parking
On-Site: 1
ContractAddressLegal
Original List Price: 1500000
Listing Date: 2015-06-05
Status: Closed
Listing Price: 1500000
Street #: 117
Direction: N
Street Name: Cortez
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Tax Parcel: 113-16-059
Property Features
Bathrooms: Unisex
Building Type: 2-4 Units; Retail - Free Stand; Other - See Remarks
Business Location: Freestanding Bldg
Commercial Amenities: Ceiling Ht. 12-15
Construction: Block/Brick; Stucco
Cooling: Central Air; Evaporative Cooling
External Amenities: Handicap Access; Other - See Remarks
Flooring: Carpet; Vinyl; Wood
Heating: Natural Gas; Natural Gas
Internal Amenities: Other - See Remarks
Parking: On-Site
Possession: At Recordation
Records Available: Other - See Remarks
Road Responsibility: City Maintained Road
Roof: Welded Membrane
Utilities Installed: Electricity; Natural Gas; Telephone; Water - City; WWT - City Sewer
Supplements
Enjoy this spacious 2,500 sf residence located in the heart of downtown Prescott. Totally private and quite, this single level main floor living features an open floor plan, 15 foot ceilings, wood floors and a 625 sf, 2.5 car private garage off alley with remote garage door plus room for storage. The floor plan includes a large living/dining room, complete kitchen with gas range and copper vent, large open area for multiple bedrooms, one full & one ½ bath. Up the spiral staircase to a wide open loft area. Live/Work in the heart of Downtown Prescott. Owner may carry with approval of Buyer's financials/credit.
Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: April - 02 - 2018
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