303-305 N Summit Avenue, Prescott, AZ 86301

$970,000
Property Type: Commercial/Indstrial Square Footage: 8,000 Lot Size (sq. ft.): 33,106 Status: Closed
Current Price: $970,000 List Date: 6/06/2023 Last Modified: 8/15/2023

Overview

Description

VALUE ADD opportunity. Rental rates are WELL below market. The 5000 sf lease is with Granite Kitchen Concepts, an automated granite fab facility with (4) 14 ft overhead doors, 20ft ceiling, overhead crane and water filtration system. The rent is currently about half price and has provisions to go to market rate in 2025. Pride of ownership shows in the Prescott Builders 2000 sf space, featuring the ''nicest shop restroom I have ever seen''. Sanders Plaster uses the remaining 1000 sf space for storage warehouse. 303 Summit has its own water, gas and electric meter. 220A and 3-phase. Fenced yard space. 305 Summit has 3 gas and electric meters and 1 water meter. Fenced yard space. Please see flyer in docs tab for rent rolls etc. There is an access easement for the property behind.

Listing Details MLS# 1056726

ContractAddressLegal

Original List Price
1195000
Listing Price
1195000
Street #
303-305
Direction
N
Street Name
Summit
St Suffix
Avenue
City/Township
Prescott
State
AZ
Zip Code
86301
County
Yavapai
Tax Parcel
113-09-040B

General Property Description

Aprx Acres
0.76
Buildings
2
Total Liveable SqFt
8000
Source of Measuremnt
County Assessor
Stories
Yes
Parking Spaces
10
Year Built
1973
Management
Owner
Gross Vol/Yr $
57120
NOI $
46400
Cap %
3.9
CAM $
1.34
Baths - Full
3
GRM
n/a
CC & R
No
CC & R Type
None
Amps
220

Tax Info

Taxes
6604
Tax Year
2022

Status Change Info

Under Contract Date
2023-06-25
Sold Date
2023-08-14
Sold Price/SqFt
121
Financing
Cash

Construction

Bay Door Height
12 and 14

More Information

Property Features

Bathrooms: Staff Building Type: 2-4 Units; Indust - Flex Space; Indust - Showroom; Indust - Warehouse; Indust-Manufacturing; Office - Warehouse Business Location: Freestanding Bldg Commercial Amenities: Ceiling Ht. 12-15; Ceiling Ht. 16+ Construction: Frame - Steel Cooling: Room A/C; Warehouse Evap External Amenities: Handicap Access; Paved Parking; Security Lights Flooring: Concrete; Laminate; Tile Heating: Natural Gas; Natural Gas Internal Amenities: Bathroom Parking: On-Site Possession: At Recordation Records Available: Survey Road Responsibility: City Maintained Road Roof: Metal Utilities Installed: 220; 3 Phase; Individual Meter; Master Meter; Natural Gas; Water - City; WWT - City Sewer
Listing Office: HUB Commercial
Last Updated: August - 15 - 2023
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