$1,195,000
Prescott, AZ 86301
MLS# 1056726
Status: Closed
8000 sqft
1 / 23
Property Description
VALUE ADD opportunity. Rental rates are WELL below market. The 5000 sf lease is with Granite Kitchen Concepts, an automated granite fab facility with (4) 14 ft overhead doors, 20ft ceiling, overhead crane and water filtration system. The rent is currently about half price and has provisions to go to market rate in 2025. Pride of ownership shows in the Prescott Builders 2000 sf space, featuring the ''nicest shop restroom I have ever seen''. Sanders Plaster uses the remaining 1000 sf space for storage warehouse. 303 Summit has its own water, gas and electric meter. 220A and 3-phase. Fenced yard space. 305 Summit has 3 gas and electric meters and 1 water meter. Fenced yard space. Please see flyer in docs tab for rent rolls etc. There is an access easement for the property behind.
Details
Maps
Documents
Contract/Address/Legal
Original List Price: 1195000
Listing Date: 2023-06-06
Status: Closed
Listing Price: 1195000
List Price/SqFt: 149
Street #: 303-305
Direction: N
Street Name: Summit
St Suffix: Avenue
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Comm Type: Industrial
Zoning: IL
Zoning Description: industrial light
Tax Parcel: 113-09-040B
Assessor's Book #: 113
Assessor's Map #: 9
Assessor's Parcel #: 40
Assessor Parcel Ltr: B
REO/Short Sale: Not Applicable
Legal: AN IRREG SHAPED PCL THE SW COR LYNG APPROX 1540' NLY & 2115' ELY FROM THE SW SEC COR SEC 33-14-2W CONT .75AC 3901/316
General Property Description
Lot Size: 32867
Aprx Acres: 0.76
Buildings: 2
Total Liveable SqFt: 8000
Source of Measuremnt: County Assessor
Stories: 1
Parking Spaces: 10
Year Built: 1973
Management: Owner
Gross Vol/Yr $: 57120
NOI $: 46400
Cap %: 3.9
CAM $: 1.34
Baths - Full: 3
GRM: n/a
CC & R: No
CC & R Type: None
Amps: 220
Tax Info
Taxes: 6604
Tax Year: 2022
Remarks & Misc
Directions: From the Courthouse Square take Gurley west to Grove, turn Right on W Sheldon. (Pass the the Local). Turn Left on Summit. The property will be on the left.
Office/Member Info
Listing Exclusions: No
Compensation: 3
Compensation Type: %
Status Change Info
Under Contract Date: 2023-06-25
Sold Date: 2023-08-14
Sold Price: $970,000
Sold Price/SqFt: 121
Financing: Cash
Construction
Bay Door Height: 12 and 14
Property Features
Bathrooms: Staff
Building Type: 2-4 Units; Indust - Flex Space; Indust - Showroom; Indust - Warehouse; Indust-Manufacturing; Office - Warehouse
Business Location: Freestanding Bldg
Commercial Amenities: Ceiling Ht. 12-15; Ceiling Ht. 16+
Construction: Frame - Steel
Cooling: Room A/C; Warehouse Evap
External Amenities: Handicap Access; Paved Parking; Security Lights
Flooring: Concrete; Laminate; Tile
Heating: Natural Gas; Natural Gas
Internal Amenities: Bathroom
Parking: On-Site
Possession: At Recordation
Records Available: Survey
Road Responsibility: City Maintained Road
Roof: Metal
Pets/Animals: None
Terms & Conditions: 1031 Exchange; Conventional; Submit
Utilities Installed: 220; 3 Phase; Individual Meter; Master Meter; Natural Gas; Water - City; WWT - City Sewer
FLYER 
Listing Office: HUB Commercial
Last Updated: August - 15 - 2023
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.