214 N Arizona Avenue, Prescott, AZ 86301
$3,750,000
Property Type:
Multi-Family
Square Footage:
11,600
Lot Size (sq. ft.):
27,878
Status:
Active
Current Price:
$3,750,000
List Date:
2/25/2026
Last Modified:
2/26/2026
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).
More Information MLS# 1079801
ContractAddressLegal
Original List Price: 3750000
Listing Date: 2026-02-24
Status: Active
Listing Price: 3750000
Street #: 214
Direction: N
Street Name: Arizona
St Suffix: Avenue
City/Township: Prescott
State: AZ
Zip Code: 86301
Subdivision: Joslin Whipple
County: Yavapai
Tax Parcel: 114-04-011, -012, -018
General Property Description
Lot #: Multi
Lot Size: 28413
Aprx Acres: 0.64
Total Liveable SqFt: 11600
Source of Measuremnt: Owner
Buildings: 7
Year Built: 1992
Management: Owner
HOA Y/N: No
Solar Y/N: No
Baths - Full: 12
More than 5 Units: Yes
Tax Info
Taxes: 6330
Tax Year: 2025
Property Features
Building Type: 5+ Units
Construction: Frame - Wood
Cooling: Ceiling Fan(s); Central Refriger; Evaporative Cooling; Heat Pump; Room Evap
External Amenities: Handicap Access; Landscaped
Flooring: Carpet; Laminate; Tile
Heating: Electric; Heat Pump; Natural Gas
Owner Pays: None
Records Available: None
Road Frontage Type: City Street
Road Surface Type: Paved
Road Responsibility: City Maintained Road
Roof: Asphalt Shingle
Utilities Installed: Electricity; Individual Meter; Natural Gas; Water - City; WWT - City Sewer
Water Heater: Natural Gas
Listing Office: Commercial Advisors of Prescott
Last Updated: February - 26 - 2026
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