227 - 231 N Cortez Street, Prescott, AZ 86301
$875,000
Property Type:
Commercial/Indstrial
Square Footage:
4,551
Lot Size (sq. ft.):
4,356
Status:
Closed
Current Price:
$875,000
List Date:
1/14/2021
Last Modified:
7/04/2021
Description
Ideal Owner User and/or Investment Opportunity. Located in the heart of downtown Prescott just north of the Courthouse Square at 227-231 N. Cortez St. This single-story commercial retail building totals approx. 4,551 sf (two separate parcels). Originally built in 1947, it has been renovated several times and features many building upgrades. The ''Cortez Plaza'' is currently home to five tenants ranging from hair stylists to other health and wellness practitioners. The building is being offered at $885,000 and a projected 6.4% going-in cap rate. The building could also be used as an owner/occupied property (please contact listing agent for more details). There are approximately 20 parking spaces located on site and in the rear of the building off of the alley way plus ample CLICK...
Supplements: Ideal Owner User and/or Investment Opportunity. Located in the heart of downtown Prescott just north of the Courthouse Square at 227-231 N. Cortez St. This single-story commercial retail building totals approx. 4,551 sf (two separate parcels). Originally built in 1947, it has been renovated several times and features many building upgrades. The "Cortez Plaza" is currently home to five tenants ranging from hair stylists to other health and wellness practitioners. The building is being offered at $885,000 and a projected 6.4% going-in cap rate. The building could also be used as an owner/occupied property (please contact listing agent for more details). There are approximately 20 parking spaces located on site and in the rear of the building off of the alley way plus ample street parking along the front of Cortez and other shared parking options available.
More Information MLS# 1035369
Contract/Address/Legal
List Price/SqFt: 194
Comm Type: Retail
REO/Short Sale: Not Applicable
Zoning: DTB
Zoning Description: Downtown Business
Legal: LOT 6 & A SMALL STRIP OFF THE S SIDE OF LOT4 PRESCOTT BOOK 4 PAGE 22
General Property Description
Aprx Acres: 0.1
Lot Size: 4359
Buildings: 2
Source of Measuremnt: County Assessor
Stories: 1
Parking Spaces: 20
Management: Owner
Vac Rate %: 16.5
CAM $: 2.79
GRM: 0
Traffic Count Per Day: 0
CC & R Fees: 3751
Total Liveable SqFt: 4551
Year Built: 1991
NOI $: 56591
Cap %: 6.4
Baths - Full: 5
Tax Info
Taxes: 6091
Tax Year: 2020
Remarks & Misc
Directions: From the Downtown Prescott Courthouse Square, head North on Cortez St. Building is located just one building from the corner of Cortez St. and Sheldon St. Look for Adrenaline Salon which is s stucco building next to Domino's Pizza.
Remarks: Ideal Owner User and/or Investment Opportunity. Located in the heart of downtown Prescott just north of the Courthouse Square at 227-231 N. Cortez St. This single-story commercial retail building totals approx. 4,551 sf (two separate parcels). Originally built in 1947, it has been renovated several times and features many building upgrades. The ''Cortez Plaza'' is currently home to five tenants ranging from hair stylists to other health and wellness practitioners. The building is being offered at $885,000 and a projected 6.4% going-in cap rate. The building could also be used as an owner/occupied property (please contact listing agent for more details). There are approximately 20 parking spaces located on site and in the rear of the building off of the alley way plus ample CLICK...
Status Change Info
Sold Price/SqFt: 192
Financing: Cash
Under Contract Date: 2021-06-11
Sold Date: 2021-06-25
Sold Price: $875,000
Building Type
2-4 Units: 1
Office - Building: 1
Retail - Free Stand: 1
Other - See Remarks: 1
Construction
Frame - Wood: 1
Stucco: 1
Cooling
Gas Pack: 1
External Amenities
Handicap Access: 1
Paved Parking: 1
Flooring
Carpet: 1
Concrete: 1
Heating
Natural Gas: 1
Possession
Subject to Tenant: 1
Records Available
Other - See Remarks: 1
Road Responsibility
City: 1
City Maintained Road: 1
Paved: 1
Roof
Asphalt Shingle: 1
Bathrooms
ADA: 1
Interior: 1
Shared: 1
Unisex: 1
Business Location
Commercial Strip: 1
Freestanding Bldg: 1
Office/Professional: 1
Terms & Conditions
Conventional: 1
Lease/Purchase: 1
Sale/Leaseback: 1
Commercial Amenities
Ceiling Ht. Under 12: 1
Utilities Installed
Electricity: 1
Master Meter: 1
Natural Gas: 1
Telephone: 1
Underground: 1
Water - City: 1
WWT - City Sewer: 1
Internal Amenities
Bathroom: 1
Other - See Remarks: 1
Parking
On-Site: 1
Other - See Remarks: 1
ContractAddressLegal
Original List Price: 885000
Listing Date: 2021-01-14
Status: Closed
Listing Price: 885000
Street #: 227 - 231
Direction: N
Street Name: Cortez
St Suffix: Street
City/Township: Prescott
State: AZ
Zip Code: 86301
County: Yavapai
Tax Parcel: 113-16-006A & 007B
Property Features
Bathrooms: ADA; Interior; Shared; Unisex
Building Type: 2-4 Units; Office - Building; Retail - Free Stand; Other - See Remarks
Business Location: Commercial Strip; Freestanding Bldg; Office/Professional
Commercial Amenities: Ceiling Ht. Under 12
Construction: Frame - Wood; Stucco
Cooling: Gas Pack
External Amenities: Handicap Access; Paved Parking
Flooring: Carpet; Concrete
Heating: Natural Gas; Natural Gas
Internal Amenities: Bathroom; Other - See Remarks
Parking: On-Site; Other - See Remarks
Possession: Subject to Tenant
Records Available: Other - See Remarks
Road Responsibility: City Maintained Road; Paved
Roof: Asphalt Shingle
Utilities Installed: Electricity; Master Meter; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer
Listing Office:
Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: July - 04 - 2021
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