$885,000
Prescott, AZ 86301
MLS# 1035369
Status: Closed
4551 sqft
1 / 19
Property Description
Ideal Owner User and/or Investment Opportunity. Located in the heart of downtown Prescott just north of the Courthouse Square at 227-231 N. Cortez St. This single-story commercial retail building totals approx. 4,551 sf (two separate parcels). Originally built in 1947, it has been renovated several times and features many building upgrades. The ''Cortez Plaza'' is currently home to five tenants ranging from hair stylists to other health and wellness practitioners. The building is being offered at $885,000 and a projected 6.4% going-in cap rate. The building could also be used as an owner/occupied property (please contact listing agent for more details). There are approximately 20 parking spaces located on site and in the rear of the building off of the alley way plus ample CLICK...
Details
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Contract/Address/Legal
Original List Price: 885000
Listing Date: 2021-01-14
Status: Closed
Listing Price: 885000
List Price/SqFt: 194
Street #: 227 - 231
Direction: N
Street Name: Cortez
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Comm Type: Retail
Zoning: DTB
Zoning Description: Downtown Business
Tax Parcel: 113-16-006A & 007B
REO/Short Sale: Not Applicable
Legal: LOT 6 & A SMALL STRIP OFF THE S SIDE OF LOT4 PRESCOTT BOOK 4 PAGE 22
General Property Description
Lot Size: 4359
Aprx Acres: 0.1
Buildings: 2
Total Liveable SqFt: 4551
Source of Measuremnt: County Assessor
Stories: 1
Parking Spaces: 20
Year Built: 1991
Management: Owner
Vac Rate %: 16.5
NOI $: 56591
Cap %: 6.4
CAM $: 2.79
Baths - Full: 5
CC & R Fees: 3751
Tax Info
Taxes: 6091
Tax Year: 2020
Remarks & Misc
Directions: From the Downtown Prescott Courthouse Square, head North on Cortez St. Building is located just one building from the corner of Cortez St. and Sheldon St. Look for Adrenaline Salon which is s stucco building next to Domino's Pizza.
Office/Member Info
Compensation: 2.5
Compensation Type: %
Status Change Info
Under Contract Date: 2021-06-11
Sold Date: 2021-06-25
Sold Price: $875,000
Sold Price/SqFt: 192
Financing: Cash
Property Features
Bathrooms: ADA; Interior; Shared; Unisex
Building Type: 2-4 Units; Office - Building; Retail - Free Stand; Other - See Remarks
Business Location: Commercial Strip; Freestanding Bldg; Office/Professional
Commercial Amenities: Ceiling Ht. Under 12
Construction: Frame - Wood; Stucco
Cooling: Gas Pack
External Amenities: Handicap Access; Paved Parking
Flooring: Carpet; Concrete
Heating: Natural Gas; Natural Gas
Internal Amenities: Bathroom; Other - See Remarks
Parking: On-Site; Other - See Remarks
Possession: Subject to Tenant
Records Available: Other - See Remarks
Road Responsibility: City Maintained Road; Paved
Roof: Asphalt Shingle
Terms & Conditions: Conventional; Lease/Purchase; Sale/Leaseback
Utilities Installed: Electricity; Master Meter; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer
Supplements
Ideal Owner User and/or Investment Opportunity. Located in the heart of downtown Prescott just north of the Courthouse Square at 227-231 N. Cortez St. This single-story commercial retail building totals approx. 4,551 sf (two separate parcels). Originally built in 1947, it has been renovated several times and features many building upgrades. The "Cortez Plaza" is currently home to five tenants ranging from hair stylists to other health and wellness practitioners. The building is being offered at $885,000 and a projected 6.4% going-in cap rate. The building could also be used as an owner/occupied property (please contact listing agent for more details). There are approximately 20 parking spaces located on site and in the rear of the building off of the alley way plus ample street parking along the front of Cortez and other shared parking options available.
Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: July - 04 - 2021
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.
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