3250 Gateway Boulevard, Prescott, AZ 86303

$12,200,000

Virtual Tour

https://vimeo.com/phoenixdroneclients/review/515310419/80744e7d12

Property Type: Commercial/Indstrial Baths: 75 Square Footage: 313,132 Lot Size (sq. ft.): 1,548,994 Status: Closed

Current Price: $12,200,000 List Date: 12/02/2021 Last Modified: 11/16/2022

Overview

Description

Prescott Gateway Mall is a modern, multifaceted regional shopping mall built in 2002, comprised of both an indoor traditional mall and an open-air outdoor lifestyle center. Indoors, under a magnificent exposed beam ceiling, are approximately 133,000 square feet and 67 suites, six of which serve an open and inviting food court. Outside, in the nicely landscaped open-air lifestyle center, 29 more suites occupy approximately 192,000 square feet. The property hosts national, regional and independent tenants including Bed Bath & Beyond, Michaels, Mattress Firm, Famous Footwear, Chico's, Bath & Body Works and Spencer's. Prescott Gateway Mall is an exciting value-addable opportunity for an investor looking to reposition the project. Some of the upsides include the

Supplements: potential of developing outparcels and/or selling the pads, building out the 21,000 square feet of gray shell space, increasing under market rents, rebranding the property and drawing alternative uses to the property. The possibilities are endless. This is the only shopping mall for nearly 100 miles offering both an enclosed traditional mall shoppi ... (Read more)

Listing Details MLS# 1043833

ContractAddressLegal

Original List Price: 15000000
Listing Price: 15000000
Street #: 3250
Street Name: Gateway
St Suffix: Boulevard
City/Township: Prescott
State: AZ
Zip Code: 86303
Subdivision: None
County: Yavapai
Tax Parcel: 103-20-600M

General Property Description

Aprx Acres: 35.56
Buildings: 3
Total Liveable SqFt: 313132
Source of Measuremnt: County Assessor
Stories: Yes
Parking Spaces: 3000
Year Built: 2001
Management: Manager
Vac Rate %: 30.9
Gross Vol/Yr $: 2131709.95
NOI $: 717852.85
Cap %: 4.8
Baths - Full: 104
GRM: 7
Traffic Count Per Day: 44000
Property Use: Investment Prop
Construction Status: Existing
Space Available: Yes
Date Available: 2021-12-02
Total Bathrooms: 75
CC & R: Yes
CC & R Type: Other - See Remarks
CC & R Frequency: Monthly
Volts: 480
Amps: 277
CAM $: 0

Tax Info

Taxes: 178349
Tax Year: 2019

Status Change Info

Under Contract Date: 2022-08-23
Sold Date: 2022-11-15
Sold Price/SqFt: 39
Financing: Cash

Construction

# of Bays: 2
Bay Door Height: 12
Block/Brick: Yes
Frame - Steel: Yes

Contract/Address/Legal

List Price/SqFt: 48
Neighborhood: N/A
Comm Type: Shopping Center
REO/Short Sale: Not Applicable
Zoning: BR
Business Name: Prescott Gateway Mall
Zoning Description: Business Regional
Business Type: Regional Mall
Assessor's Book #: 103
Assessor's Map #: 20
Assessor's Parcel #: 600
Assessor Parcel Ltr: M
Legal: Yavapai County Parcels: 103-20-600K, 103-20-600M, 103-20-599A, 103-20-598G, 103-20-570Y, 103-20-598H, 103-20-598F

More Information

Remarks & Misc

Directions: Turn into the Mall Entrance at State Route 69 and Gateway Blvd.
Remarks: Prescott Gateway Mall is a modern, multifaceted regional shopping mall built in 2002, comprised of both an indoor traditional mall and an open-air outdoor lifestyle center. Indoors, under a magnificent exposed beam ceiling, are approximately 133,000 square feet and 67 suites, six of which serve an open and inviting food court. Outside, in the nicely landscaped open-air lifestyle center, 29 more suites occupy approximately 192,000 square feet. The property hosts national, regional and independent tenants including Bed Bath & Beyond, Michaels, Mattress Firm, Famous Footwear, Chico's, Bath & Body Works and Spencer's. Prescott Gateway Mall is an exciting value-addable opportunity for an investor looking to reposition the project. Some of the upsides include the

Building Type

5+ Units: Yes
Retail - Shopping Center: Yes

Cooling

Central Air: Yes
Heat Pump: Yes

External Amenities

Drip System: Yes
Handicap Access: Yes
Landscaped: Yes
Paved Parking: Yes
Security Lights: Yes

Flooring

Carpet: Yes
Concrete: Yes
Tile: Yes

Heating

Electric: Yes
Natural Gas: Yes
Zoned: Yes

Possession

At Recordation: Yes

Records Available

Alta Survey: Yes
Elect/HVAC Plan: Yes
Engr. Reports: Yes
Site Plan: Yes
Survey: Yes

Road Responsibility

Paved: Yes
Private Maintained Road: Yes
State: Yes

Roof

Metal: Yes
Welded Membrane: Yes

Bathrooms

ADA: Yes
Interior: Yes
Public: Yes
Separate M and W: Yes

Business Location

Commercial Strip: Yes
Multiple Locations: Yes
Traffic Signal: Yes

Terms & Conditions

1031 Exchange: Yes
Conventional: Yes
Submit: Yes

Commercial Amenities

Ceiling Ht. 16+: Yes
Ceiling Ht. Under 12: Yes
Grade Level: Yes
Overhead Door(s): Yes
Roll-Up Door(s): Yes
Truck/Loading Dock: Yes

Utilities Installed

220: Yes
3 Phase: Yes
Electricity: Yes
Fire Hydrant: Yes
Individual Meter: Yes
Master Meter: Yes
Natural Gas: Yes
Security System: Yes
Telephone: Yes
Underground: Yes
Water - City: Yes
WWT - City Sewer: Yes

Internal Amenities

Bathroom: Yes
Ceiling Fan(s): Yes
Fire/Smoke Detector: Yes
Kitchen: Yes
Security/Alarm: Yes
Sprinklers: Yes

Parking

On-Site: Yes
Storage: Yes
Trailer: Yes
Truck: Yes

Property Features

Bathrooms: ADA; Interior; Public; Separate M and W Building Type: 5+ Units; Retail - Shopping Center Business Location: Commercial Strip; Multiple Locations; Traffic Signal Commercial Amenities: Grade Level; Roll-Up Door(s); Ceiling Ht. Under 12; Ceiling Ht. 16+; Overhead Door(s); Truck/Loading Dock Construction: Block/Brick; Frame - Steel Cooling: Central Air; Heat Pump External Amenities: Drip System; Handicap Access; Landscaped; Paved Parking; Security Lights Flooring: Carpet; Concrete; Tile Heating: Electric; Natural Gas; Natural Gas; Zoned Internal Amenities: Bathroom; Ceiling Fan(s); Fire/Smoke Detector; Kitchen; Security/Alarm; Sprinklers Parking: On-Site; Storage; Trailer; Truck Possession: At Recordation Records Available: Alta Survey; Elect/HVAC Plan; Engr. Reports; Site Plan; Survey Road Responsibility: Paved; Private Maintained Road; State Roof: Metal; Welded Membrane Utilities Installed: 220; 3 Phase; Electricity; Fire Hydrant; Individual Meter; Master Meter; Natural Gas; Security System; Telephone; Underground; Water - City; WWT - City Sewer

Listing Office: Prescott Commercial Real Estate

Last Updated: November - 16 - 2022

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