1201 Iron Springs Road, Prescott, AZ 86305

$1,765,000

Property Type: Commercial/Indstrial Square Footage: 13,000 Lot Size (sq. ft.): 37,026 Status: Closed

Current Price: $1,765,000 List Date: 10/10/2018 Last Modified: 5/20/2020

Overview

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.

Listing Details MLS# 1016080

ContractAddressLegal

Original List Price: 1980000
Listing Price: 1737000
Street #: 1201
Street Name: Iron Springs
St Suffix: Road
City/Township: Prescott
State: AZ
Zip Code: 86305
Subdivision: None
County: Yavapai
Tax Parcel: 115-09-042F

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

Status Change Info

Under Contract Date: 2019-02-11
Sold Date: 2019-04-23
Sold Price/SqFt: 136
Financing: Conventional

More Information

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 Utilities Installed: Individual Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer

Listing Office: Arizona Commercial

Last Updated: May - 20 - 2020

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