1555 W Iron Springs Road, Prescott, AZ 86305

$2,940,000

Property Type: Commercial/Indstrial Square Footage: 22,560 Lot Size (sq. ft.): 67,954 Status: Closed

Current Price: $2,940,000 List Date: 8/31/2022 Last Modified: 11/21/2022

Overview

Description

Fantastic opportunity to acquire this mixed-use multi tenant investment property. The property consists of 4 Parcels, 22,530 square feet of leasable square footage currently demised into 58 units. (14 Traditional offices, 32 Storage Units, and 12 Units that are half office and half warehouse). Property features 78 Parking spaces, a large monument marquee sign, County zoning so there is no city TPT tax, currently 100% leased, average daily traffic counts at the last study in 2016 were 21,700 vehicles per day. 2023 proforma assumptions are $251,079.80 NOI and a 9% Cap Rate. Financials available with a signed NDA.

Listing Details MLS# 1050846

ContractAddressLegal

Original List Price: 2800000
Listing Price: 2800000
Street #: 1555
Direction: W
Street Name: Iron Springs
St Suffix: Road
City/Township: Prescott
State: AZ
Zip Code: 86305
Subdivision: Forbing Park
County: Yavapai
Tax Parcel: 115-06-188

General Property Description

Aprx Acres: 1.56
Buildings: 3
Total Liveable SqFt: 22560
Source of Measuremnt: County Assessor
Stories: Yes
Parking Spaces: 82
Year Built: 1981
Management: Owner
Gross Vol/Yr $: 371615.58
NOI $: 251079.8
Cap %: 9
CAM $: 101955
Baths - Full: 58
GRM: 7.53
Traffic Count Per Day: 21700
Property Use: Investment Prop
Construction Status: Existing
Space Available: No
Date Available: 2022-08-30
Vac Rate %: 0

Tax Info

Taxes: 20957
Tax Year: 2021
Builder Name: Jim Duke

Status Change Info

Under Contract Date: 2022-09-02
Sold Date: 2022-11-18
Sold Price/SqFt: 130
Financing: Cash

Construction

# of Bays: 56
Bay Door Height: 8'
Block/Brick: Yes
Frame - Wood: Yes

Contract/Address/Legal

List Price/SqFt: 124
Neighborhood: N/A
Comm Type: Office
REO/Short Sale: Not Applicable
Zoning: C1-4
Zoning Description: Yavapai County C1-4
Business Type: Multiple
Assessor's Book #: 115
Assessor's Map #: 6
Assessor's Parcel #: 188
Legal: LOTS 5 6 AND NLY PTN OF LOT 7 BLOCK 5 FORBING PARK BOOK 3 PAGE 25

More Information

Remarks & Misc

Directions: West on Iron Springs from Willow Creek Rd or Miller Valley Rd. Property is located on the South (left) side of Iron Springs.
Remarks: Fantastic opportunity to acquire this mixed-use multi tenant investment property. The property consists of 4 Parcels, 22,530 square feet of leasable square footage currently demised into 58 units. (14 Traditional offices, 32 Storage Units, and 12 Units that are half office and half warehouse). Property features 78 Parking spaces, a large monument marquee sign, County zoning so there is no city TPT tax, currently 100% leased, average daily traffic counts at the last study in 2016 were 21,700 vehicles per day. 2023 proforma assumptions are $251,079.80 NOI and a 9% Cap Rate. Financials available with a signed NDA.

Office/Member Info

Listing Exclusions: No

Building Type

5+ Units: Yes
Mini/Self Storage: Yes
Office - Building: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Gas Pack: Yes
Room A/C: Yes

External Amenities

Fence: Yes
Handicap Access: Yes
Landscaped: Yes
Paved Parking: Yes
Security Lights: Yes

Flooring

Carpet: Yes
Concrete: Yes
Tile: Yes

Heating

Electric: Yes
Natural Gas: Yes

Possession

At Recordation: Yes

Records Available

Site Plan: Yes
Survey: Yes

Road Responsibility

County: Yes
County Maintained Road: Yes
Paved: Yes

Roof

Rolled/Hot Mop: Yes

Bathrooms

Interior: Yes
Separate M and W: Yes
Shared: Yes
Staff: Yes

Business Location

Business Park: Yes
Commercial Strip: Yes
Office/Professional: Yes

Terms & Conditions

1031 Exchange: Yes
Conventional: Yes

Commercial Amenities

Ceiling Ht. Under 12: Yes
Grade Level: Yes
Overhead Door(s): Yes
Roll-Up Door(s): Yes

Utilities Installed

220: Yes
Electricity: Yes
Fire Hydrant: Yes
Individual Meter: Yes
Master Meter: Yes
Natural Gas: Yes
Telephone: Yes
Underground: Yes
Water - City: Yes
WWT - City Sewer: Yes

Internal Amenities

Bathroom: Yes
Ceiling Fan(s): Yes
Fire/Smoke Detector: Yes
Security/Alarm: Yes

Parking

On-Site: Yes

Pets/Animals

None: Yes

Property Features

Bathrooms: Interior; Separate M and W; Shared; Staff Building Type: 5+ Units; Mini/Self Storage; Office - Building Business Location: Business Park; Commercial Strip; Office/Professional Commercial Amenities: Grade Level; Roll-Up Door(s); Ceiling Ht. Under 12; Overhead Door(s) Construction: Block/Brick; Frame - Wood Cooling: Ceiling Fan(s); Central Air; Gas Pack; Room A/C External Amenities: Fence; Handicap Access; Landscaped; Paved Parking; Security Lights Flooring: Carpet; Concrete; Tile Heating: Electric; Natural Gas; Natural Gas Internal Amenities: Bathroom; Ceiling Fan(s); Fire/Smoke Detector; Security/Alarm Parking: On-Site Possession: At Recordation Records Available: Site Plan; Survey Road Responsibility: County; County Maintained Road; Paved Roof: Rolled/Hot Mop Utilities Installed: 220; Electricity; Fire Hydrant; Individual Meter; Master Meter; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer

Listing Office: Prescott Commercial Real Estate

Last Updated: November - 21 - 2022

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