3250 Gateway Boulevard, Prescott, AZ 86303

$12,200,000
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 ...

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

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

More Information

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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