1239&1241 W Iron Springs Road, Prescott, AZ 86305
Overview
Description
Supplements: ... (Read more) 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 Details MLS# 1047714
ContractAddressLegal
- Original List Price
- 1825000
- Listing Price
- 1825000
- Street #
- 1239&1241
- Direction
- W
- Street Name
- Iron Springs
- St Suffix
- Road
- City/Township
- Prescott
- State
- AZ
- Zip Code
- 86305
- County
- Yavapai
- Tax Parcel
- 115-08-079A & 079B, 115-09-039C & 039D
General Property Description
- Aprx Acres
- 0.86
- Buildings
- 2
- Total Liveable SqFt
- 11854
- Source of Measuremnt
- Owner
- Stories
- Yes
- Parking Spaces
- 33
- Year Built
- 1998
- Management
- Owner
- Vac Rate %
- 19.3
- Gross Vol/Yr $
- 147290
- NOI $
- 104646
- Cap %
- 6.8
- CAM $
- 42643
- Baths - Full
- 6
- GRM
- 10.9
- Property Use
- Vacant/Owner Users
- Construction Status
- Existing
- Space Available
- Yes
- Date Available
- 2022-05-01
Tax Info
- Taxes
- 10648
- Tax Year
- 2021
Status Change Info
- Under Contract Date
- 2022-10-11
- Sold Date
- 2022-11-18
- Sold Price/SqFt
- 118
- Financing
- Conventional