214 N Arizona Avenue, Prescott, AZ 86301
$3,750,000
Property Type:
Multi-Family
Square Footage:
11,600
Lot Size (sq. ft.):
27,878
Status:
Active
Current Price:
$3,750,000
List Date:
2/25/2026
Last Modified:
2/26/2026
Overview
Description
Listing Details MLS# 1079801
ContractAddressLegal
- Original List Price
- 3750000
- Listing Price
- 3750000
- Street #
- 214
- Direction
- N
- Street Name
- Arizona
- St Suffix
- Avenue
- City/Township
- Prescott
- State
- AZ
- Zip Code
- 86301
- Subdivision
- Joslin Whipple
- County
- Yavapai
- Tax Parcel
- 114-04-011, -012, -018
General Property Description
- Lot #
- Multi
- Aprx Acres
- 0.64
- Total Liveable SqFt
- 11600
- Source of Measuremnt
- Owner
- Buildings
- 7
- Year Built
- 1992
- Management
- Owner
- HOA Y/N
- No
- Solar Y/N
- No
- Baths - Full
- 12
- More than 5 Units
- Yes
- Vac Rate %
- 0
Tax Info
- Taxes
- 6330
- Tax Year
- 2025
Contract/Address/Legal
- On-Market Date
- 2026-02-25
- List Price/SqFt
- 323
- Rent/Lease
- No
- Neighborhood
- N/A
- REO/Short Sale
- Not Applicable
- Zoning
- MF-M
- Legal
- Parcel 114-04-011 - Lots 9 and 11, Block 17, Joslin-Whipple Subdivision Parcel 114-04-012 - Lot 13 and the South 5 feet of lot 11, Block 17, of Whipple Heights Parcel 114-04-018 - The East 50 feet of Lots 18 and 20, Block 17, Whipple Heights
Remarks & Misc
- Directions
- From Gurley Street in Downtown Prescott, head north on Arizona Avenue. Property consists of three parcels located between Willis Street and N Arizona Avenue, addressed as 710 E Willis St and 212 & 214 N Arizona Ave.
- Remarks
- Fully leased 12 unit + office multifamily portfolio in Downtown Prescott. Three parcels totaling approximately 0.64 acres with ±11,600 SF of improvements, 100% leased to a licensed treatment operator under a modified NNN lease structure. Current rent of $20,800/month increases 4% upon renewal, producing $249,600 in annual income post-renewal. Tenant reimburses operating expenses and pays property taxes directly, providing stable, low-management cash flow. Zoned MF-M with long-term flexibility for continued multifamily use or redevelopment. Rare, stabilized investment opportunity in a supply-constrained downtown submarket. Offered at $3,750,000 (~6.66% cap on post-renewal income).
Building Type
- 5+ Units
- Yes
More Information
Construction
- Frame - Wood
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Central Refriger
- Yes
- Evaporative Cooling
- Yes
- Heat Pump
- Yes
- Room Evap
- Yes
External Amenities
- Handicap Access
- Yes
- Landscaped
- Yes
Flooring
- Carpet
- Yes
- Laminate
- Yes
- Tile
- Yes
Heating
- Electric
- Yes
- Heat Pump
- Yes
- Natural Gas
- Yes
Owner Pays
- None
- Yes
Records Available
- None
- Yes
Road Frontage Type
- City Street
- Yes
Road Surface Type
- Paved
- Yes
Road Responsibility
- City Maintained Road
- Yes
Roof
- Asphalt Shingle
- Yes
Terms & Conditions
- 1031 Exchange
- Yes
- Conventional
- Yes
Utilities Installed
- Electricity
- Yes
- Individual Meter
- Yes
- Natural Gas
- Yes
- Water - City
- Yes
- WWT - City Sewer
- Yes
Water Heater
- Natural Gas
- Yes
Property Features
Building Type:
5+ Units
Construction:
Frame - Wood
Cooling:
Ceiling Fan(s); Central Refriger; Evaporative Cooling; Heat Pump; Room Evap
External Amenities:
Handicap Access; Landscaped
Flooring:
Carpet; Laminate; Tile
Heating:
Electric; Heat Pump; Natural Gas
Owner Pays:
None
Records Available:
None
Road Frontage Type:
City Street
Road Surface Type:
Paved
Road Responsibility:
City Maintained Road
Roof:
Asphalt Shingle
Utilities Installed:
Electricity; Individual Meter; Natural Gas; Water - City; WWT - City Sewer
Water Heater:
Natural Gas
Listing Office:
Commercial Advisors of Prescott
Last Updated: February - 26 - 2026
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