$2,200,000
Prescott, AZ 86303
MLS# 1064296
8449 sqft
1 / 15
Property Description
Exceptional Opportunity to purchase this downtown Prescott apartment / motel complex and proposed RV Park. The property is being offered for sale at $2,200,000 with a proforma cap rate of 11.5% (please contact listing agent for additional details). This wonderful lodging opportunity features 12 studio style guest rooms located within 3 separate and adjacent buildings which total 3,841 sf. As part of this sales offering, the owner is including their conceptual site plan and estimated site improvement costs for the development of a proposed 8-unit RV park planned on the adjacent .23-acre vacant parcel (see attached site plan). Situated on two adjacent parcels totaling +/-.59 acres of BG zoned land, there are 12 on-site parking spaces located in front and on the side of the studio uni
Details
Maps
Contract/Address/Legal
Original List Price: 2200000
Listing Date: 2024-05-07
Status: Active
Listing Price: 2200000
List Price/SqFt: 260
Street #: 805
Street Name: White Spar
St Suffix: Road
City/Township: Prescott
State: AZ
Zip Code: 86303
Subdivision: None
Neighborhood: N/A
County: Yavapai
Comm Type: Hotel/Motel
Zoning: BG
Zoning Description: Business General
Business Type: Hotel
Business Name: Cascade Motel
Tax Parcel: 107-14-112A & 107-14-095D
REO/Short Sale: Not Applicable
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
Lot Size: 25,700
Aprx Acres: 0.59
Buildings: 3
Total Liveable SqFt: 8449
Source of Measuremnt: Owner
Stories: 1
Parking Spaces: 20
Year Built: 2024
Management: Owner
NOI $: 253068
Cap %: 11.5
CAM $: 59364
Baths - Full: 20
GRM: 6.5
Property Use: Vacant/Owner Users
Construction Status: Existing
Space Available: Yes
Tax Info
Taxes: 2104
Tax Year: 2023
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.
Office/Member Info
Compensation: 2.5
Compensation Type: %
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: Site Plan; Other - See Remarks
Road Responsibility: City Maintained Road; Paved
Roof: Asphalt Shingle
Terms & Conditions: Lease/Purchase; Submit
Utilities Installed: Electricity; Master Meter; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer
Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: May - 08 - 2024
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.