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500 Copper Basin Road, Prescott, AZ 86303

$1,649,000
Property Type: Commercial/Indstrial Square Footage: 4,686 Lot Size (sq. ft.): 19,602 Status: Active
Current Price: $1,649,000 List Date: 10/14/2024 Last Modified: 10/16/2024

Description

Situated amidst the vibrant shops and dining establishments along Highway 89 and in Downtown Prescott, this delightful rental property is ideally positioned just a few blocks from the Prescott Courthouse. Previously known as the Pine View Motel, the new ownership has undertaken significant renovations, transforming it into a profitable venture. Spanning a total of 4,686 square feet, this accommodation features 15 units, comprising 2 suites and 13 studio rooms. These rooms are available for rental periods of 6 or 12 months and currently have a waiting list, resulting in little to no vacancies at the property. Additional revenue is generated from the laundry facilities and late payment fees. The current NOI for this property stands at $138,889.73 representing a 8.42 CAP Rate.

More Information MLS# 1066818

ContractAddressLegal

Original List Price: 2100000 Listing Date: 2024-08-17 Status: Active Listing Price: 1649000 Street #: 500 Street Name: Copper Basin Road City/Township: Prescott State: AZ Zip Code: 86303 County: Yavapai Tax Parcel: 109-09-078A

General Property Description

Lot Size: 19602 Aprx Acres: 0.45 Buildings: 5 Total Liveable SqFt: 4686 Source of Measuremnt: Owner Stories: 2 Floor: 2 Parking Spaces: 20 Year Built: 1962 Management: Owner Vac Rate %: 93.33 Gross Vol/Yr $: 190697 NOI $: 138889 Cap %: 8.42 CAM $: 52807 Baths - Full: 15 GRM: - Traffic Count Per Day: 9786 Property Use: Investment Prop

Tax Info

Taxes: 3876 Tax Year: 2023

Property Features

Bathrooms: Interior Building Type: 5+ Units; Motel/Hotel Business Location: Commercial Strip; Freestanding Bldg; Traffic Signal Commercial Amenities: Ceiling Ht. Under 12 Construction: Frame - Wood Cooling: Room A/C External Amenities: Landscaped; Paved Parking Flooring: Vinyl Heating: Natural Gas; Natural Gas Internal Amenities: Bathroom; Ceiling Fan(s); Fire/Smoke Detector Parking: On-Site Records Available: Other - See Remarks Road Responsibility: Paved Roof: Asphalt Shingle Utilities Installed: Master Meter; Natural Gas; Telephone; Underground; Water - City; WWT - City Sewer
Listing Office: Prescott Commercial Real Estate
Last Updated: October - 16 - 2024
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