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 ...

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

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

More Information

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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