Property Type:
Commercial/Indstrial
Square Footage:
11,854
Lot Size (sq. ft.):
37,462
Status:
Closed
Current Price:
$1,400,000
List Date:
5/13/2022
Last Modified:
11/30/2022
Description
Exceptional Retail Investment Opportunity For Sale in Prescott Arizona. This multi-tenant retail center offers great exposure and monument signage along Iron Springs Road. The single-story retail center is comprised of 2 separate free-standing buildings totaling +/-11,854 sf and 6 separate suites. Situated on .86 acres, the buildings are located on 4 separate parcels that are split zoned with both Business Regional (BR) & Industrial Transition (IT) zoning allowing for many commercial uses. The Center is anchored by a Prescott's Abbey Flooring & Design which recently renewed their lease. Currently there is 1 vacancy of +/-2,288 sf. The property is being offered for sale at $1,825,000 or $153.96/sf with a going in CAP rate of 5.7% and a proforma CAP rate of 8.4% assuming the one vacancy is l
Supplements: Exceptional Retail Investment Opportunity For Sale in Prescott Arizona. This multi-tenant retail center offers great exposure and monument signage along Iron Springs Road. The single-story retail center is comprised of 2 separate free-standing buildings totaling +/-11,854 sf and 6 separate suites. Situated on .86 acres, the buildings are located on 4 separate parcels that are split zoned with both Business Regional (BR) & Industrial Transition (IT) zoning allowing for many commercial uses. The Center is anchored by a Prescott's Abbey Flooring & Design which recently renewed their lease. Currently there is 1 vacancy of +/-2,288 sf. The property is being offered for sale at $1,825,000 or $153.96/sf with a going in CAP rate of 5.7% and a proforma CAP rate of 8.4% assuming the one vacancy is leased at market rents. Upside potential includes renegotiating several month-to-month leases that are under market. There are 18 on-site parking spaces. Parking lot improvements are planned for this year. Current financials and pro-forma available with a signed NDA.
Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: November - 30 - 2022
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