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

Overview

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 "C ... (Read more)

Listing Details MLS# 1035369

ContractAddressLegal

Original List Price: 885000
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

General Property Description

Aprx Acres: 0.1
Buildings: 2
Total Liveable SqFt: 4551
Source of Measuremnt: County Assessor
Stories: Yes
Parking Spaces: 20
Year Built: 1991
Management: Owner
Vac Rate %: 16.5
NOI $: 56591
Cap %: 6.4
CAM $: 2.79
Baths - Full: 5
CC & R Fees: 3751
GRM: No
Traffic Count Per Day: 0

Tax Info

Taxes: 6091
Tax Year: 2020

Status Change Info

Under Contract Date: 2021-06-11
Sold Date: 2021-06-25
Sold Price/SqFt: 192
Financing: Cash

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

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...

More Information

Building Type

2-4 Units: Yes
Office - Building: Yes
Retail - Free Stand: Yes
Other - See Remarks: Yes

Construction

Frame - Wood: Yes
Stucco: Yes

Cooling

Gas Pack: Yes

External Amenities

Handicap Access: Yes
Paved Parking: Yes

Flooring

Carpet: Yes
Concrete: Yes

Heating

Natural Gas: Yes

Possession

Subject to Tenant: Yes

Records Available

Other - See Remarks: Yes

Road Responsibility

City: Yes
City Maintained Road: Yes
Paved: Yes

Roof

Asphalt Shingle: Yes

Bathrooms

ADA: Yes
Interior: Yes
Shared: Yes
Unisex: Yes

Business Location

Commercial Strip: Yes
Freestanding Bldg: Yes
Office/Professional: Yes

Terms & Conditions

Conventional: Yes
Lease/Purchase: Yes
Sale/Leaseback: Yes

Commercial Amenities

Ceiling Ht. Under 12: Yes

Utilities Installed

Electricity: Yes
Master Meter: Yes
Natural Gas: Yes
Telephone: Yes
Underground: Yes
Water - City: Yes
WWT - City Sewer: Yes

Internal Amenities

Bathroom: Yes
Other - See Remarks: Yes

Parking

On-Site: Yes
Other - See Remarks: Yes

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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