$1,765,000
Prescott, AZ 86305
MLS# 1016080
Status: Closed
13000 sqft
1 / 12
Property Description
Newly renovated strip center currently leased to 11 tenants. Now 100% leased! Excellent visibility, New paint, signage, monument signs, tenant improvements, awnings and doors (to be installed). Excellent cap rate of 8% and NOI of $138,931 which includes expenses management and 5% vacancy. Tenants include Spicy Streats, That Salad Place, Haute Locks, JVapes, Rock Climbing Gym, Crossfit, High Desert Lock and Safe, and Prescott Laundry.
Details
Maps
Contract/Address/Legal
Original List Price: 1980000
Listing Date: 2018-10-10
Status: Closed
Listing Price: 1737000
List Price/SqFt: 134
Street #: 1201
Street Name: Iron Springs
St Suffix: Road
City/Township: Prescott
State: AZ
Zip Code: 86305
Subdivision: None
Neighborhood: N/A
County: Yavapai
Comm Type: Retail
Zoning: BR
Business Type: Multi tenant
Business Name: Investment
Tax Parcel: 115-09-042F
Assessor's Book #: 115
Assessor's Map #: 9
Assessor's Parcel #: 42
Assessor Parcel Ltr: F
REO/Short Sale: Not Applicable
Legal: Hinman Tract, Block 1, Replat Portions Of Lots 2, 3 And 4
General Property Description
Aprx Acres: 0.85
Buildings: 2
Total Liveable SqFt: 13000
Source of Measuremnt: County Assessor
Parking Spaces: 50
Year Built: 1973
Management: Mgmt Company
NOI $: 142231
Cap %: 8
CAM $: 2.94
Baths - Full: 13
GRM: oo
Property Use: Investment Prop
Tax Info
Taxes: 9856
Tax Year: 2018
Remarks & Misc
Directions: Iron Springs Road east of Village at the Boulders
Office/Member Info
Listing Exclusions: No
Compensation: 3
Compensation Type: %
Status Change Info
Under Contract Date: 2019-02-11
Sold Date: 2019-04-23
Sold Price: $1,765,000
Sold Price/SqFt: 136
Financing: Conventional
Property Features
Bathrooms: ADA; Interior
Building Type: 5+ Units; Retail - Free Stand; Retail - Shopping Center
Business Location: Commercial Strip; Corner Location
Commercial Amenities: Roll-Up Door(s)
Construction: Block/Brick; Stucco
Cooling: Central Air
External Amenities: Paved Parking
Flooring: Concrete; Tile; Wood
Heating: Natural Gas; Natural Gas
Internal Amenities: Fire/Smoke Detector
Parking: On-Site; Street Parking
Possession: Subject to Tenant
Records Available: Alta Survey; Phase I; Survey
Roof: Rolled/Hot Mop
Terms & Conditions: Conventional
Utilities Installed: Individual Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer
Listing Office: Arizona Commercial LLC
Last Updated: May - 20 - 2020
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