$1,550,000
Prescott, AZ 86303
MLS# 1079872
3733 sqft
1 / 40
Property Description
Exceptional investment opportunity in the heart of downtown Prescott! The historic Cascade Motel, originally built in 1946, has undergone a comprehensive interior and exterior renovation in 2024/2025 and is now in excellent, turnkey condition. This 11-unit lodging property consists of three separate, adjacent buildings totaling approximately 3,733 SF, situated on ±0.36 acres with BG (Business General) zoning. The unit mix includes ten fully renovated studio guest rooms and one 1-bedroom suite currently utilized as an on-site manager's office/residence. All units offer Wi-Fi, cable, and utilities included. Recent interior upgrades include new doors and windows, mini-split HVAC systems, digital door locks, vinyl plank flooring, updated cabinetry and countertops, new sinks and showers, modern lighting, and fresh paint throughout. Exterior improvements feature a new parking lot and concrete walkways, updated landscaping, outdoor patio space, enhanced exterior lighting, security camera system, six new water heaters, and new fencing. Additional amenities include a shared kitchen area, storage room, and a newly constructed laundry facility with four coin-operated washers and dryers, folding table, coin change machine, and laundry accessory vending machine. The property provides 11 on-site parking spaces plus additional parking at the southeast corner of the parcel. Flexible BG zoning allows for multiple operational options, including apartment rentals, daily/weekly/monthly lodging, group home, or other specialty multi-family uses (buyer to verify). A rare owner-operator or investment opportunity in a prime downtown location. Currently operated as mid-term rental (weekly to monthly) with solid occupancy. The CAP rate of 7.85% includes a 5% vacancy factor and 5% repair/reserve factor. Management in place that can transfer to new owner.
Details
Maps
Contract/Address/Legal
List Price/SqFt: 415
Neighborhood: N/A
Comm Type: Hotel/Motel
REO/Short Sale: Not Applicable
Zoning: BG
Business Name: Cascade Motel
Zoning Description: Business General
Business Type: Hotel
Assessor's Book #: 107
Assessor's Map #: 14
Assessor's Parcel #: 112
Assessor Parcel Ltr: a
Legal: LOTS 11, 12, MILE HIGHPROPERTIES NO. 2 LESS ADOT R-O-W. CONT. 0.36 AC. MILE HIGH PROPERTIES 2 BOOK 4 PAGE 66
General Property Description
Aprx Acres: 0.36
Lot Size: 25700
Buildings: 3
Source of Measuremnt: Owner
Stories: 1
Parking Spaces: 11
Management: Owner
Vac Rate %: 5
CAM $: 0
GRM: 14000
CC & R Fees: 3733
Property Use: Vacant/Owner Users
Construction Status: Existing
Solar Y/N: No
Space Available: Yes
Total Liveable SqFt: 3733
Year Built: 1985
NOI $: 132000
Cap %: 7.85
Baths - Full: 11
Tax Info
Taxes: 1728
Tax Year: 2025
Remarks & Misc
Directions: From the downtown Courthouse, go approx. 1.4 miles south on Montezuma. Montezuma turns into White Spar Road. Go approx. 1 bock past Copper Basin Road and the Property will be on the left just before you get to the Sierra Inn.
Remarks: Exceptional investment opportunity in the heart of downtown Prescott! The historic Cascade Motel, originally built in 1946, has undergone a comprehensive interior and exterior renovation in 2024/2025 and is now in excellent, turnkey condition. This 11-unit lodging property consists of three separate, adjacent buildings totaling approximately 3,733 SF, situated on ±0.36 acres with BG (Business General) zoning. The unit mix includes ten fully renovated studio guest rooms and one 1-bedroom suite currently utilized as an on-site manager's office/residence. All units offer Wi-Fi, cable, and utilities included. Recent interior upgrades include new doors and windows, mini-split HVAC systems, digital door locks, vinyl plank flooring, updated cabinetry and countertops, new sinks and showers, modern lighting, and fresh paint throughout. Exterior improvements feature a new parking lot and concrete walkways, updated landscaping, outdoor patio space, enhanced exterior lighting, security camera system, six new water heaters, and new fencing. Additional amenities include a shared kitchen area, storage room, and a newly constructed laundry facility with four coin-operated washers and dryers, folding table, coin change machine, and laundry accessory vending machine. The property provides 11 on-site parking spaces plus additional parking at the southeast corner of the parcel. Flexible BG zoning allows for multiple operational options, including apartment rentals, daily/weekly/monthly lodging, group home, or other specialty multi-family uses (buyer to verify). A rare owner-operator or investment opportunity in a prime downtown location. Currently operated as mid-term rental (weekly to monthly) with solid occupancy. The CAP rate of 7.85% includes a 5% vacancy factor and 5% repair/reserve factor. Management in place that can transfer to new owner.
Building Type
5+ Units: 1
Motel/Hotel: 1
Other - See Remarks: 1
Construction
Frame - Wood: 1
Stucco: 1
Cooling
Room A/C: 1
See Remarks: 1
External Amenities
Handicap Access: 1
Landscaped: 1
Paved Parking: 1
Flooring
Concrete: 1
Vinyl: 1
Heating
Electric: 1
Records Available
Other - See Remarks: 1
Road Responsibility
City: 1
City Maintained Road: 1
Paved: 1
Roof
Asphalt Shingle: 1
Bathrooms
Interior: 1
Unisex: 1
Business Location
Freestanding Bldg: 1
Other - See Remarks: 1
Terms & Conditions
Submit: 1
Commercial Amenities
Ceiling Ht. Under 12: 1
Utilities Installed
Electricity: 1
Natural Gas: 1
Telephone: 1
Underground: 1
Water - City: 1
WWT - City Sewer: 1
Internal Amenities
Bathroom: 1
Kitchen: 1
Parking
On-Site: 1
Trailer: 1
Other - See Remarks: 1
Pets/Animals
Domestic: 1
ContractAddressLegal
Original List Price: 1550000
Listing Date: 2026-02-23
Status: Active
Listing Price: 1550000
Street #: 805
Street Name: White Spar
St Suffix: Road
City/Township: Prescott
State: AZ
Zip Code: 86303
Subdivision: None
County: Yavapai
Tax Parcel: 107-14-112a
Property Features
Bathrooms: Interior; Unisex
Building Type: 5+ Units; Motel/Hotel; Other - See Remarks
Business Location: Freestanding Bldg; Other - See Remarks
Commercial Amenities: Ceiling Ht. Under 12
Construction: Frame - Wood; Stucco
Cooling: Room A/C; See Remarks
External Amenities: Handicap Access; Landscaped; Paved Parking
Flooring: Concrete; Vinyl
Heating: Electric
Internal Amenities: Bathroom; Kitchen
Parking: On-Site; Trailer; Other - See Remarks
Records Available: Other - See Remarks
Road Responsibility: City Maintained Road; Paved
Roof: Asphalt Shingle
Utilities Installed: Electricity; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer
Listing Office: Keller Williams Arizona Realty
Last Updated: February - 27 - 2026
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