143 N McCormick St - Office FOR SALE


Prescott, AZ 86301- Downtown Prescott
$1,800,000 USD
480-309-1089
143 N McCormick St, Prescott, AZ for Sale
$1,800,000 USD
Office - FOR SALE
1/12
null | 11.03% Cap Rate

143 N McCormick St
Prescott, AZ 86301
Downtown Prescott


HIGHLIGHTS

  • A short walk to the dining and retail offerings of Downtown Prescott
  • Beautiful and mature landscaping
  • Great Fix and Flip opportunity

OVERVIEW

Discover a unique office opportunity just off Downtown Prescott. This beautifully situated, 9-unit office condo building sits near Granite Creek, offering mature landscaping that provides welcome shade and a lush, inviting atmosphere. The property benefits from a highly walkable location and is home to a variety of professional and medical tenants. The are several ways to look at investing in this property. With 9 separate, individually metered condo units, this property can be fixed up and resold as owner-user units, or rents can be brought up to market rate, and the entire property can be sold on a cap rate. Reletting the spaces at a conservative $20 PSF annually NNN would give the building a net operating income of $198,620.00, which at a 7.0% Cap Rate is an income approach value of $2,837428.57. Fixing the individual condos and retail selling them for a gross sales price of $300PSF would give the entire complex a gross sales price of $2.98M. The property is outdated, needs some repair, renovation, and updating. Call for more details.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$181 USD /SF

CAP RATE

11.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oak Professional Building

PROPERTY TYPE

Office

ADD'L SUBTYPES

Loft/Creative Space, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

DTB

APN/PARCEL ID

113-17-001,113-17-002,113-17-003,113-17-004,113-17-005,113-17-006,113-17-007,113-17-008,113-17-009

ASK ABOUT THIS PROPERTY

Matthew FishArizona CommercialMore Info
480-309-1089

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Matthew FishArizona CommercialMore Info
480-309-1089

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.