$950,000
Prescott, AZ 86301
MLS# 1021930
Status: Closed
16168 sqft
1 / 5
Property Description
Opportunity Zone! Live/Work/Play in the heart of Downtown Prescott. All entitlements and plans have been approved by the City and are in place for the redevelopment of this building into an 11-unit residential project (see attached rendering). Excellent Value-Add Investment Opportunity located in the heart of Downtown Prescott within the Opportunity Zone. The property consists of two separate buildings totaling 16,168 sf and is situated on two parcels (which have recently been combined) totaling .22 acres of prime downtown business zoned land. This building offers great street frontage, visibility and signage on both Cortez St. and Sheldon St. The rear of the building is served by an alley and can accommodate 12 parking spaces in tandem fashion. The historic property...(Click
Details
Maps
Contract/Address/Legal
List Price/SqFt: 68
Comm Type: Other
REO/Short Sale: Not Applicable
Zoning: DTB
Business Name: The Bucky O'Neil Hotel
Zoning Description: Downtown Business
Business Type: Multi-Fam, Hotel
Legal: CITY OF PRESCOTT PRESCOTT LESS TRI PTN OF LOT BEING APPROX 3 7.12' ON N X 14.4' ON W BY 39.82' TO CITY OF PRESCOTT FOR HW Y DESC DEEDS 189/322 LOT 7 BLK 2
General Property Description
Aprx Acres: 0.22
Lot Size: 9583
Buildings: 2
Source of Measuremnt: County Assessor
Stories: 3
Floor: 3
Parking Spaces: 18
Management: Owner
Vac Rate %: 0
CAM $: 0
GRM: 0
CC & R Fees: 4950
Total Liveable SqFt: 16168
Year Built: 1945
Tax Info
Taxes: 5098
Tax Year: 2018
Remarks & Misc
Directions: From the Downtown Courthouse Square, Head North on Cortez, Building on Left, next to Thai restaurant close to Sheldon St.
Remarks: Opportunity Zone! Live/Work/Play in the heart of Downtown Prescott.
All entitlements and plans have been approved by the City and are in place for the redevelopment of this building into an 11-unit residential project (see attached rendering). Excellent Value-Add Investment Opportunity located in the heart of Downtown Prescott within the Opportunity Zone.
The property consists of two separate buildings totaling 16,168 sf and is situated on two parcels (which have recently been combined) totaling .22 acres of prime downtown business zoned land. This building offers great street frontage, visibility and signage on both Cortez St. and Sheldon St. The rear of the building is served by an alley and can accommodate 12 parking spaces in tandem fashion.
The historic property...(Click
Status Change Info
Sold Price/SqFt: 59
Financing: Cash
Under Contract Date: 2020-09-14
Sold Date: 2020-11-02
Sold Price: $950,000
Building Type
5+ Units: 1
Motel/Hotel: 1
Office - Building: 1
Other - See Remarks: 1
Construction
Stucco: 1
Other - See Remarks: 1
Cooling
Ceiling Fan(s): 1
Other: 1
See Remarks: 1
External Amenities
Fence: 1
Handicap Access: 1
Flooring
Concrete: 1
Tile: 1
Heating
Natural Gas: 1
Possession
At Recordation: 1
Records Available
Other - See Remarks: 1
Road Responsibility
City: 1
City Maintained Road: 1
Paved: 1
Roof
Rolled/Hot Mop: 1
Bathrooms
Shared: 1
Other - See Remarks: 1
Business Location
Freestanding Bldg: 1
Other - See Remarks: 1
Terms & Conditions
1031 Exchange: 1
Assumable: 1
Conventional: 1
Lease/Purchase: 1
Submit: 1
Commercial Amenities
Ceiling Ht. Under 12: 1
Utilities Installed
Electricity: 1
Master Meter: 1
Natural Gas: 1
Telephone: 1
Water - City: 1
WWT - City Sewer: 1
Internal Amenities
Ceiling Fan(s): 1
Fire/Smoke Detector: 1
Parking
On-Site: 1
Street Parking: 1
Other - See Remarks: 1
ContractAddressLegal
Original List Price: 1095000
Listing Date: 2019-06-11
Status: Closed
Listing Price: 1095000
Street #: 224-228
Direction: N
Street Name: Cortez
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Tax Parcel: 113-15-066 & 067A
Property Features
Bathrooms: Shared; Other - See Remarks
Building Type: 5+ Units; Motel/Hotel; Office - Building; Other - See Remarks
Business Location: Freestanding Bldg; Other - See Remarks
Commercial Amenities: Ceiling Ht. Under 12
Construction: Stucco; Other - See Remarks
Cooling: Ceiling Fan(s); Other; See Remarks
External Amenities: Fence; Handicap Access
Flooring: Concrete; Tile
Heating: Natural Gas; Natural Gas
Internal Amenities: Ceiling Fan(s); Fire/Smoke Detector
Parking: On-Site; Street Parking; Other - See Remarks
Possession: At Recordation
Records Available: Other - See Remarks
Road Responsibility: City Maintained Road; Paved
Roof: Rolled/Hot Mop
Utilities Installed: Electricity; Master Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer
Supplements
Opportunity Zone! Live/Work/Play in the heart of Downtown Prescott.
All entitlements and plans have been approved by the City and are in place for the redevelopment of this building into an 11-unit residential project (see attached rendering). Excellent Value-Add Investment Opportunity located in the heart of Downtown Prescott within the Opportunity Zone.
The property consists of two separate buildings totaling 16,168 sf and is situated on two parcels (which have recently been combined) totaling .22 acres of prime downtown business zoned land. This building offers great street frontage, visibility and signage on both Cortez St. and Sheldon St. The rear of the building is served by an alley and can accommodate 12 parking spaces in tandem fashion.
The historic property formerly served as the Depot Hotel and the Bucky O'Neil Hotel when originally constructed in both 1911 & 1913. This commercial building is not on the historic register, not fire sprinklered and not elevator served. Seller may carry upon approved Buyer's financials/credit.
Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: June - 20 - 2023
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