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    122 N Cortez St, Unit 109 Prescott, AZ 86301

    View on Map
    Sponsored
    For Lease
    $24 SF/Yr

    COMMERCIAL - Prescott, AZ

    Type:Office
    Property size:
    494 SF
    Lot size:
    0.34 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 19 at 12:06 am

    Property Features for 122 N Cortez St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Zoning
    BR
    Parking features
    On Street
    Interior features
    Elevator(s)
    Exterior features
    Handicap Access
    Accessibility
    Accessible Approach with Ramp, Accessible Elevator Installed
    Size
    494 SF
    Lot size
    0.34 Acres

    Utilities

    Utilities
    Phone Available
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1983
    Number of units
    27
    Flooring type
    Carpet, Tile
    Building materials
    Block
    Roof type
    Membrane

    We can help!

    Listing Contact
    Matthew Fish
    Matthew Fish

    Arizona Commercial LLC

    Listing agent Matthew Fish (480) 309-1089

    Listing date Mar 18, 2026

    MLS# 1080399

    Copyright © 2026 Prescott Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Professional Office Suite Near Courthouse

    Suite 109, located in the 122 @ Cortez building, offers 494 square feet of first-floor office space. This well-configured suite is designed for professional use and includes a private office, a dedicated storage closet, and a spacious reception area. The building provides abundant natural light and features two elevators, creating a comfortable and functional work environment. Situated just steps from Courthouse Square, the location places businesses at the center of Prescott's professional community. The property is zoned BR and is located in Prescott, Arizona, with a postal code of 86301, in Yavapai County. The lot size is 0.34 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Debra Rock, LCSW Crisis Center Track Down Inc Law Firm Bulleri Network Services Telecommunications Service Project Insight Inc Social Service Agency Jerald Pet (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Real Estate Agency Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.469121
    Latitude
    34.542699

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    FAQs

    What type of property is this?
    Office units - First-floor office suite in central Prescott, ideal for professional use.
    Where is this office units located?
    The property is located at 122 N Cortez St, Unit 109 Prescott, AZ.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: - Prime location steps from Courthouse Square, placing your business at the center of Prescott's professional community.; - Well-configured 494 sq ft first-floor office suite with a private office, dedicated storage closet, and spacious reception area.; - Building features abundant natural light, creating a comfortable and functional work environment.
    (480) 309-1089
    Request Owner's contact information
    122 N Cortez St, Unit 109 Prescott, AZ 86301
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    Prescott, AZ 86301
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    122 N Cortez St, Unit 109 Prescott, AZ 86301
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    We can help!
    Listing Contact
    Matthew Fish
    Matthew Fish
    Real Estate License ID: BR626105000
    (480) 309-1089 (928) 515-1223 (928) 775-4227
    Learn more
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