117 N Cortez, Prescott, AZ 86301

$1,350,000

Property Type: Commercial/Indstrial Baths: 3 Square Footage: 10,000 Status: Closed

Current Price: $1,350,000 List Date: 6/06/2015 Last Modified: 4/02/2018

Overview

Description

Excellent Owner/User and/or Investment Opportunity (Pro-Forma Going-in Cap at 6.8%) with upside in rents. Purchase this 10,000 sf high traffic retail/residential building in heart of downtown Prescott. Offered at $1,500,000 and situated on .17 acres of prime downtown business zoned land, this building offers great frontage, visibility and signage on Cortez St. The current Antique Mall tenant occupies approx. 7,500 sf. and will be vacating in the near future. In addition, enjoy the spacious 2,500 sf residence located directly east and behind the commercial building off alley way. Owner may carry with approval of Buyer’s financials/credit.

Supplements: Enjoy this spacious 2,500 sf residence located in the heart of downtown Prescott. Totally private and quite, this single level main floor living features an open floor plan, 15 foot ceilings, wood floors and a 625 sf, 2.5 car private garage off alley with remote garage door plus room for storage. The floor plan includes a large living/dining room, ... (Read more)

Listing Details MLS# 987304

ContractAddressLegal

Original List Price: 1500000
Listing Price: 1500000
Street #: 117
Direction: N
Street Name: Cortez
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Tax Parcel: 113-16-059

General Property Description

Buildings: Yes
Total Liveable SqFt: 10000
Source of Measuremnt: Owner
Stories: Yes
Parking Spaces: 3
Year Built: 1944
Management: Owner
NOI $: 102000
Cap %: 6.8
CAM $: 2.5
Baths - Full: 2
GRM: 14.7
Property Use: Investment Prop
Construction Status: Existing
Space Available: Yes
Total Bathrooms: 3
CC & R: No
Vac Rate %: 0

Tax Info

Taxes: 4729
Tax Year: 2014

Status Change Info

Under Contract Date: 2015-12-02
Sold Date: 2015-12-02
Sold Price/SqFt: 135
Financing: Cash

Contract/Address/Legal

List Price/SqFt: 150
Comm Type: Retail
REO/Short Sale: Not Applicable
Zoning: DTB
Zoning Description: Downtown Business`
Business Type: Retai & Residential
Assessor's Book #: 113
Assessor's Map #: 16
Assessor's Parcel #: 59
Legal: PRESCOTT LOT 16 BLK 9 567/383

Remarks & Misc

Directions: From the Downtown Courthouse Square, Head North on Cortez, Building on Right, look for the Pennington’s sign.
Remarks: Excellent Owner/User and/or Investment Opportunity (Pro-Forma Going-in Cap at 6.8%) with upside in rents. Purchase this 10,000 sf high traffic retail/residential building in heart of downtown Prescott. Offered at $1,500,000 and situated on .17 acres of prime downtown business zoned land, this building offers great frontage, visibility and signage on Cortez St. The current Antique Mall tenant occupies approx. 7,500 sf. and will be vacating in the near future. In addition, enjoy the spacious 2,500 sf residence located directly east and behind the commercial building off alley way. Owner may carry with approval of Buyer’s financials/credit.

More Information

Building Type

2-4 Units: Yes
Retail - Free Stand: Yes
Other - See Remarks: Yes

Construction

Block/Brick: Yes
Stucco: Yes

Cooling

Central Air: Yes
Evaporative Cooling: Yes

External Amenities

Handicap Access: Yes
Other - See Remarks: Yes

Flooring

Carpet: Yes
Vinyl: Yes
Wood: Yes

Heating

Natural Gas: Yes

Possession

At Recordation: Yes

Records Available

Other - See Remarks: Yes

Road Responsibility

City: Yes
City Maintained Road: Yes

Roof

Welded Membrane: Yes

Bathrooms

Unisex: Yes

Business Location

Freestanding Bldg: Yes

Terms & Conditions

Conventional: Yes

Commercial Amenities

Ceiling Ht. 12-15: Yes

Utilities Installed

Electricity: Yes
Natural Gas: Yes
Telephone: Yes
Water - City: Yes
WWT - City Sewer: Yes

Internal Amenities

Other - See Remarks: Yes

Parking

On-Site: Yes

Property Features

Bathrooms: Unisex Building Type: 2-4 Units; Retail - Free Stand; Other - See Remarks Business Location: Freestanding Bldg Commercial Amenities: Ceiling Ht. 12-15 Construction: Block/Brick; Stucco Cooling: Central Air; Evaporative Cooling External Amenities: Handicap Access; Other - See Remarks Flooring: Carpet; Vinyl; Wood Heating: Natural Gas; Natural Gas Internal Amenities: Other - See Remarks Parking: On-Site Possession: At Recordation Records Available: Other - See Remarks Road Responsibility: City Maintained Road Roof: Welded Membrane Utilities Installed: Electricity; Natural Gas; Telephone; Water - City; WWT - City Sewer

Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty

Last Updated: April - 02 - 2018

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