611 Miller Valley Road, Prescott, AZ 86301
$1,200,000
Property Type:
Commercial/Indstrial
Square Footage:
11,011
Lot Size (sq. ft.):
26,572
Status:
Closed
Current Price:
$1,200,000
List Date:
3/04/2022
Last Modified:
10/28/2022
Description
On the Market for the first time in 49 years! This 7-unit multi-tenant shopping center is a perfect addition to your portfolio. The property is 100% occupied by 6 separate tenants, new roof in February of 2022, 33 parking spaces, zoned business general, and offers great exposure along Miller Valley Road. There are a lot of upsides in increasing under market base rents, adding NNN's to the gross leases, and renegotiating month to month leases. Current financials and pro-forma available with a signed NDA.
More Information MLS# 1045357
Contract/Address/Legal
List Price/SqFt: 127
Comm Type: Retail
REO/Short Sale: Not Applicable
Zoning: BG
Zoning Description: Business General
Assessor's Book #: 113
Assessor's Map #: 7
Assessor's Parcel #: 12
Legal: LOT3; LESS WLY 14 R/W LOT 4;LESS WLY13 R/W LOT 5; ALL IN BLOCK 1 TRACT LESS BRANNEN TRACT BOOK 3 PAGE 37
General Property Description
Aprx Acres: 0.61
Lot Size: 25827
Buildings: 1
Source of Measuremnt: County Assessor
Stories: 1
Parking Spaces: 33
Management: Owner
Gross Vol/Yr $: 87600
Vac Rate %: 0
CAM $: 19874
GRM: 15.98
CC & R Fees: 11012
Property Use: Investment Prop
Construction Status: Existing
Space Available: No
Date Available: 2022-02-18
Total Liveable SqFt: 11011
Year Built: 1973
NOI $: 67726
Cap %: 4.84
Baths - Full: 7
Tax Info
Taxes: 9025
Tax Year: 2021
Remarks & Misc
Directions: Take Miller Valley Road to Brennan
Remarks: On the Market for the first time in 49 years! This 7-unit multi-tenant shopping center is a perfect addition to your portfolio. The property is 100% occupied by 6 separate tenants, new roof in February of 2022, 33 parking spaces, zoned business general, and offers great exposure along Miller Valley Road. There are a lot of upsides in increasing under market base rents, adding NNN's to the gross leases, and renegotiating month to month leases. Current financials and pro-forma available with a signed NDA.
Office/Member Info
Listing Exclusions: Yes
Status Change Info
Sold Price/SqFt: 109
Financing: Cash
Under Contract Date: 2022-03-10
Sold Date: 2022-03-31
Sold Price: $1,200,000
Building Type
5+ Units: 1
Retail - Shopping Center: 1
Construction
# of Bays: 1
Bay Door Height: 10'
Block/Brick: 1
Frame - Wood: 1
Cooling
Central Air: 1
External Amenities
Handicap Access: 1
Paved Parking: 1
Security Lights: 1
Flooring
Carpet: 1
Concrete: 1
Tile: 1
Heating
Natural Gas: 1
Possession
Subject to Tenant: 1
Records Available
Other - See Remarks: 1
Road Responsibility
City: 1
City Maintained Road: 1
Paved: 1
Roof
Rolled/Hot Mop: 1
Bathrooms
Interior: 1
Unisex: 1
Business Location
Commercial Strip: 1
Terms & Conditions
1031 Exchange: 1
Conventional: 1
Commercial Amenities
Ceiling Ht. Under 12: 1
Overhead Door(s): 1
Roll-Up Door(s): 1
Utilities Installed
220: 1
Electricity: 1
Individual Meter: 1
Master Meter: 1
Natural Gas: 1
Telephone: 1
Underground: 1
Water - City: 1
WWT - City Sewer: 1
Internal Amenities
Bathroom: 1
Fire/Smoke Detector: 1
Security/Alarm: 1
Parking
On-Site: 1
ContractAddressLegal
Original List Price: 1400000
Listing Date: 2022-02-18
Status: Closed
Listing Price: 1400000
Street #: 611
Street Name: Miller Valley
St Suffix: Road
City/Township: Prescott
State: AZ
Zip Code: 86301
Subdivision: Brannen Tract
County: Yavapai
Tax Parcel: 113-07-012
Property Features
Bathrooms: Interior; Unisex
Building Type: 5+ Units; Retail - Shopping Center
Business Location: Commercial Strip
Commercial Amenities: Roll-Up Door(s); Ceiling Ht. Under 12; Overhead Door(s)
Construction: Block/Brick; Frame - Wood
Cooling: Central Air
External Amenities: Handicap Access; Paved Parking; Security Lights
Flooring: Carpet; Concrete; Tile
Heating: Natural Gas; Natural Gas
Internal Amenities: Bathroom; Fire/Smoke Detector; Security/Alarm
Parking: On-Site
Possession: Subject to Tenant
Records Available: Other - See Remarks
Road Responsibility: City Maintained Road; Paved
Roof: Rolled/Hot Mop
Utilities Installed: 220; Electricity; Individual Meter; Master Meter; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer
Listing Office:
Better Homes And Gardens Real Estate Bloomtree Realty
Last Updated: October - 28 - 2022
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