222 W Gurley Street, Prescott, AZ 86301

$2,250,000

Property Type: Commercial/Indstrial Square Footage: 8,072 Lot Size (sq. ft.): 12,632 Status: Closed

Current Price: $2,250,000 List Date: 8/20/2024 Last Modified: 12/20/2024

Overview

Description

Fully leased investment opportunity within this totally renovated commercial building located in the heart of vibrant downtown Prescott, AZ. Prime location with high foot traffic and excellent visibility. Situated in the bustling downtown district of Prescott, this property benefits from a dynamic and diverse commercial environment. The building has undergone a comprehensive renovation in 2018, incorporating modern finishes and state-of-the-art amenities while preserving its unique character and charm. The upgrades include new HVAC systems, electrical wiring, plumbing, elevator and high-quality interior finishes. With its strong rental income and recent renovations, this property offers an attractive capitalization rate, reflecting its value and potential for continued growth.

Listing Details MLS# 1066875

ContractAddressLegal

Original List Price: 2250000
Listing Price: 2250000
Street #: 222
Direction: W
Street Name: Gurley
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86301
Subdivision: Prescott
County: Yavapai
Tax Parcel: 113-15-094

General Property Description

Aprx Acres: 0.29
Buildings: Yes
Total Liveable SqFt: 8072
Source of Measuremnt: County Assessor
Stories: 2
Parking Spaces: 21
Year Built: 1979
Management: Owner
NOI $: 130000
Cap %: 6
CAM $: 2.3
Baths - Full: 3
Property Use: Vacant/Owner Users
Construction Status: Existing
Space Available: No
CC & R Fees: 8073
Vac Rate %: 0
GRM: No

Tax Info

Taxes: 17942
Tax Year: 2023

Status Change Info

Under Contract Date: 2024-12-10
Sold Date: 2024-12-19
Sold Price/SqFt: 279
Financing: Conventional

Contract/Address/Legal

List Price/SqFt: 279
Neighborhood: N/A
Comm Type: Office
REO/Short Sale: Not Applicable
Zoning: DTB
Zoning Description: Downtown Business
Assessor's Book #: 113
Assessor's Map #: 15
Assessor's Parcel #: 94
Legal: LOT 20 BLOCK 7 PRESCOTT BOOK 4 PAGE 22

Remarks & Misc

Directions: West on Gurley Street to building on right between Gurley Street Grill and Prescott Public House.
Remarks: Fully leased investment opportunity within this totally renovated commercial building located in the heart of vibrant downtown Prescott, AZ. Prime location with high foot traffic and excellent visibility. Situated in the bustling downtown district of Prescott, this property benefits from a dynamic and diverse commercial environment. The building has undergone a comprehensive renovation in 2018, incorporating modern finishes and state-of-the-art amenities while preserving its unique character and charm. The upgrades include new HVAC systems, electrical wiring, plumbing, elevator and high-quality interior finishes. With its strong rental income and recent renovations, this property offers an attractive capitalization rate, reflecting its value and potential for continued growth.

More Information

Office/Member Info

Listing Exclusions: No

Building Type

2-4 Units: Yes
Office - Building: Yes

Construction

Block/Brick: Yes
Frame - Wood: Yes
Stucco: Yes

Cooling

Central Air: Yes
See Remarks: Yes

External Amenities

Handicap Access: Yes
Landscaped: Yes
Paved Parking: Yes
Other - See Remarks: Yes

Flooring

Carpet: Yes
Concrete: Yes
Laminate: Yes
Tile: Yes

Heating

Natural Gas: Yes

Possession

Subject to Tenant: Yes

Records Available

As-Built: Yes
Elect/HVAC Plan: Yes
Other - See Remarks: Yes

Road Responsibility

City: Yes
City Maintained Road: Yes
Paved: Yes

Roof

Welded Membrane: Yes

Bathrooms

ADA: Yes
Separate M and W: Yes

Business Location

Freestanding Bldg: Yes

Terms & Conditions

1031 Exchange: Yes
Conventional: Yes

Commercial Amenities

Ceiling Ht. 12-15: Yes
Other - See Remarks: Yes

Utilities Installed

Electricity: Yes
Natural Gas: Yes
Water - City: Yes
WWT - City Sewer: Yes
Other - See Remarks: Yes

Internal Amenities

Elevator(s): Yes
Fire/Smoke Detector: Yes
Security/Alarm: Yes
Sprinklers: Yes

Parking

On-Site: Yes
Other - See Remarks: Yes

Pets/Animals

None: Yes

Property Features

Bathrooms: ADA; Separate M and W Building Type: 2-4 Units; Office - Building Business Location: Freestanding Bldg Commercial Amenities: Ceiling Ht. 12-15; Other - See Remarks Construction: Block/Brick; Frame - Wood; Stucco Cooling: Central Air; See Remarks External Amenities: Handicap Access; Landscaped; Paved Parking; Other - See Remarks Flooring: Carpet; Concrete; Laminate; Tile Heating: Natural Gas; Natural Gas Internal Amenities: Elevator(s); Fire/Smoke Detector; Security/Alarm; Sprinklers Parking: On-Site; Other - See Remarks Possession: Subject to Tenant Records Available: As-Built; Elect/HVAC Plan; Other - See Remarks Road Responsibility: City Maintained Road; Paved Roof: Welded Membrane Utilities Installed: Electricity; Natural Gas; Water - City; WWT - City Sewer; Other - See Remarks

Listing Office: Prescott Commercial Real Estate

Last Updated: December - 20 - 2024

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