$3,750,000
Prescott, AZ 86301
MLS# 1079801
11600 sqft
1 / 16
Property Description
Fully leased 12 unit + office multifamily portfolio in Downtown Prescott. Three parcels totaling approximately 0.64 acres with ±11,600 SF of improvements, 100% leased to a licensed treatment operator under a modified NNN lease structure. Current rent of $20,800/month increases 4% upon renewal, producing $249,600 in annual income post-renewal. Tenant reimburses operating expenses and pays property taxes directly, providing stable, low-management cash flow. Zoned MF-M with long-term flexibility for continued multifamily use or redevelopment. Rare, stabilized investment opportunity in a supply-constrained downtown submarket. Offered at $3,750,000 (~6.66% cap on post-renewal income).
Details
Maps
Contract/Address/Legal
On-Market Date: 2026-02-25
List Price/SqFt: 323
Rent/Lease: No
Neighborhood: N/A
REO/Short Sale: Not Applicable
Zoning: MF-M
Legal: Parcel 114-04-011 - Lots 9 and 11, Block 17, Joslin-Whipple Subdivision
Parcel 114-04-012 - Lot 13 and the South 5 feet of lot 11, Block 17, of Whipple Heights
Parcel 114-04-018 - The East 50 feet of Lots 18 and 20, Block 17, Whipple Heights
General Property Description
Aprx Acres: 0.64
Lot #: Multi
Lot Size: 28413
HOA Y/N: No
Buildings: 7
Source of Measuremnt: Owner
Management: Owner
Vac Rate %: 0
Solar Y/N: No
More than 5 Units: Yes
Total Liveable SqFt: 11600
Year Built: 1992
Baths - Full: 12
Tax Info
Taxes: 6330
Tax Year: 2025
Remarks & Misc
Directions: From Gurley Street in Downtown Prescott, head north on Arizona Avenue. Property consists of three parcels located between Willis Street and N Arizona Avenue, addressed as 710 E Willis St and 212 & 214 N Arizona Ave.
Remarks: Fully leased 12 unit + office multifamily portfolio in Downtown Prescott. Three parcels totaling approximately 0.64 acres with ±11,600 SF of improvements, 100% leased to a licensed treatment operator under a modified NNN lease structure.
Current rent of $20,800/month increases 4% upon renewal, producing $249,600 in annual income post-renewal. Tenant reimburses operating expenses and pays property taxes directly, providing stable, low-management cash flow.
Zoned MF-M with long-term flexibility for continued multifamily use or redevelopment. Rare, stabilized investment opportunity in a supply-constrained downtown submarket.
Offered at $3,750,000 (~6.66% cap on post-renewal income).
Building Type
5+ Units: 1
Construction
Frame - Wood: 1
Cooling
Ceiling Fan(s): 1
Central Refriger: 1
Evaporative Cooling: 1
Heat Pump: 1
Room Evap: 1
External Amenities
Handicap Access: 1
Landscaped: 1
Flooring
Carpet: 1
Laminate: 1
Tile: 1
Heating
Electric: 1
Heat Pump: 1
Natural Gas: 1
Owner Pays
None: 1
Records Available
None: 1
Road Frontage Type
City Street: 1
Road Surface Type
Paved: 1
Road Responsibility
City Maintained Road: 1
Roof
Asphalt Shingle: 1
Terms & Conditions
1031 Exchange: 1
Conventional: 1
Utilities Installed
Electricity: 1
Individual Meter: 1
Natural Gas: 1
Water - City: 1
WWT - City Sewer: 1
Water Heater
Natural Gas: 1
ContractAddressLegal
Original List Price: 3750000
Listing Date: 2026-02-24
Status: Active
Listing Price: 3750000
Street #: 214
Direction: N
Street Name: Arizona
St Suffix: Avenue
City/Township: Prescott
State: AZ
Zip Code: 86301
Subdivision: Joslin Whipple
County: Yavapai
Tax Parcel: 114-04-011, -012, -018
Property Features
Building Type: 5+ Units
Construction: Frame - Wood
Cooling: Ceiling Fan(s); Central Refriger; Evaporative Cooling; Heat Pump; Room Evap
External Amenities: Handicap Access; Landscaped
Flooring: Carpet; Laminate; Tile
Heating: Electric; Heat Pump; Natural Gas
Owner Pays: None
Records Available: None
Road Frontage Type: City Street
Road Surface Type: Paved
Road Responsibility: City Maintained Road
Roof: Asphalt Shingle
Utilities Installed: Electricity; Individual Meter; Natural Gas; Water - City; WWT - City Sewer
Water Heater: Natural Gas
Listing Office: Commercial Advisors of Prescott
Last Updated: February - 26 - 2026
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