$2,940,000
Prescott, AZ 86305
MLS# 1050846
Status: Closed
22560 sqft
1 / 26
Property Description
Fantastic opportunity to acquire this mixed-use multi tenant investment property. The property consists of 4 Parcels, 22,530 square feet of leasable square footage currently demised into 58 units. (14 Traditional offices, 32 Storage Units, and 12 Units that are half office and half warehouse). Property features 78 Parking spaces, a large monument marquee sign, County zoning so there is no city TPT tax, currently 100% leased, average daily traffic counts at the last study in 2016 were 21,700 vehicles per day. 2023 proforma assumptions are $251,079.80 NOI and a 9% Cap Rate. Financials available with a signed NDA.
Details
Maps
Contract/Address/Legal
Original List Price: 2800000
Listing Date: 2022-08-30
Status: Closed
Listing Price: 2800000
List Price/SqFt: 124
Street #: 1555
Direction: W
Street Name: Iron Springs
St Suffix: Road
City/Township: Prescott
State: AZ
Zip Code: 86305
Subdivision: Forbing Park
Neighborhood: N/A
County: Yavapai
Comm Type: Office
Zoning: C1-4
Zoning Description: Yavapai County C1-4
Business Type: Multiple
Tax Parcel: 115-06-188
Assessor's Book #: 115
Assessor's Map #: 6
Assessor's Parcel #: 188
REO/Short Sale: Not Applicable
Legal: LOTS 5 6 AND NLY PTN OF LOT 7 BLOCK 5 FORBING PARK BOOK 3 PAGE 25
General Property Description
Lot Size: 69260.4
Aprx Acres: 1.56
Buildings: 3
Total Liveable SqFt: 22560
Source of Measuremnt: County Assessor
Stories: 1
Parking Spaces: 82
Year Built: 1981
Management: Owner
Gross Vol/Yr $: 371615.58
NOI $: 251079.8
Cap %: 9
CAM $: 101955
Baths - Full: 58
GRM: 7.53
Traffic Count Per Day: 21700
Property Use: Investment Prop
Construction Status: Existing
Space Available: No
Date Available: 2022-08-30
Tax Info
Taxes: 20957
Tax Year: 2021
Builder Name: Jim Duke
Remarks & Misc
Directions: West on Iron Springs from Willow Creek Rd or Miller Valley Rd. Property is located on the South (left) side of Iron Springs.
Office/Member Info
Listing Exclusions: No
Compensation: 3
Compensation Type: %
Status Change Info
Under Contract Date: 2022-09-02
Sold Date: 2022-11-18
Sold Price: $2,940,000
Sold Price/SqFt: 130
Financing: Cash
Construction
# of Bays: 56
Bay Door Height: 8'
Property Features
Bathrooms: Interior; Separate M and W; Shared; Staff
Building Type: 5+ Units; Mini/Self Storage; Office - Building
Business Location: Business Park; Commercial Strip; Office/Professional
Commercial Amenities: Grade Level; Roll-Up Door(s); Ceiling Ht. Under 12; Overhead Door(s)
Construction: Block/Brick; Frame - Wood
Cooling: Ceiling Fan(s); Central Air; Gas Pack; Room A/C
External Amenities: Fence; Handicap Access; Landscaped; Paved Parking; Security Lights
Flooring: Carpet; Concrete; Tile
Heating: Electric; Natural Gas; Natural Gas
Internal Amenities: Bathroom; Ceiling Fan(s); Fire/Smoke Detector; Security/Alarm
Parking: On-Site
Possession: At Recordation
Records Available: Site Plan; Survey
Road Responsibility: County; County Maintained Road; Paved
Roof: Rolled/Hot Mop
Pets/Animals: None
Terms & Conditions: 1031 Exchange; Conventional
Utilities Installed: 220; Electricity; Fire Hydrant; Individual Meter; Master Meter; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer
Listing Office: Prescott Commercial Real Estate
Last Updated: November - 21 - 2022
The listing broker’s offer of compensation is the dollar amount or percentage of sale price the listing broker offers to pay a broker who (a) participates in the multiple listing service where the listing broker filed the listing and (b) procures the buyer for a successful transaction.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Prescott Area Association of REALTORS. Information provided is thought to be reliable but is not guaranteed to be accurate. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Real estate listings held by brokerage firms other than the website owner, are indicated by detailed information about them such as the name of the listing firms. Copyright© 2020 Prescott Area Association of REALTORS. All rights reserved.