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
Documents
Listing Office: Prescott Commercial Real Estate
Last Updated: October - 16 - 2024
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