214 N Arizona Avenue, Prescott, AZ 86301
- $3,750,000
- List Price
- $3,750,000
- Days on Market
- 157
- Status
- ACTIVE
- MLS#
- 1079801
- City
- Prescott
- Lot Size
- 28,413
- Subdivision
- Joslin Whipple
- Year Built
- 1992
Property Description
Fully leased 12 unit + office multifamily portfolio in Downtown Prescott. Three parcels totaling approximately 0.64 acres with +/-11,600 SF of improvements, 100% leased to a licensed treatment operator under a modified NNN lease structure.Current rent of $20,800/month increases 4% upon renewal, producing $249,600 in annual income post-renewal. Tenant reimburses operating expenses and pays property taxes directly, providing stable, low-management cash flow.Zoned MF-M with long-term flexibility for continued multifamily use or redevelopment. Rare, stabilized investment opportunity in a supply-constrained downtown submarket.Offered at $3,750,000 (~6.66% cap on post-renewal income).
Additional Information
- Acres
- 0.64
- Construction
- Frame
- Cooling
- Ceiling Fan(s), Central Refriger, Evaporative Cooling, Heat Pump, Room Evap
- Exterior Features
- Handicap Access
- Flooring
- Carpet, Laminate, Tile
- Heating
- Electric, Heat Pump, Natural Gas
- Lot Size
- 28,413
- Subdivision
- Joslin Whipple
- Taxes
- $6,330
- Tax Year
- 2025
- Utilities
- Electricity Available, Individual Meter, Natural Gas Available, WWT - City Sewer
- Water
- Public
- Zoning
- MF-M
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Listing courtesy of Commercial Advisors of Prescott.
Listing data provided & © by (PAAR) Prescott Area Association of REALTORS®