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    Land in Forest Trails Title is generated by Realmo AI

    2005 Promontory, Prescott, AZ 86305

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    Claim this Listing
    For Sale
    $370,000

    LAND - Prescott, AZ

    Lot size:
    0.82 Acres
    Added:
    May 4, 2026
    Days on Market:
    30
    Last Refresh:
    Jun 2 at 12:06 am

    Property Features for 2005 Promontory

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SF-18 (PAD)
    Standard status
    Active
    APN
    69
    Lot size
    0.82 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    FOREST TRAILS UNIT 4 PH 5 & A REPLAT OF LOT 69 OF FOREST TRAILS U NIT 4 PH 4 AMENDED LOT 102 CONT .82AC SEC 30-14-2W M&P 53 /11-12
    Tax Annual Amount
    885

    We can help!

    Listing Contact
    Paul Simari

    Listing agent Paul Simari

    Listing office Real Broker 3707 East Southern Ave. Suite #1074, Mesa, AZ

    Listing date May 4, 2026

    MLS# 1081831 Listing URL

    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.

    HighLights

    • Premier location in Forest Trails, a prestigious neighborhood known for luxury homes and excellent resale value.
    • Direct access to Prescott National Forest, offering hiking and outdoor adventures.
    • City conveniences including city water, city sewer, and high‑speed internet, ready for a smart home.
    • Proximity to Downtown Prescott Square (12 minutes) for dining, culture, and historic charm.
    • Close to Yavapai Regional Medical Center, providing convenient access to healthcare.
    • Nearby Don Myers Memorial Park with tennis, pickleball, and basketball courts.

    Overview

    Located in Forest Trails, Prescott, AZ, this vacant land offers an opportunity to build a luxury home in a sought-after neighborhood. The 0.82-acre lot is situated in a heavily wooded setting bordering the national forest. City water, city sewer, and high-speed internet are available. The property is located approximately 12 minutes from Downtown Prescott Square and a few miles from Yavapai Regional Medical Center. Don Myers Memorial Park, featuring tennis, pickleball, and basketball courts, is also nearby. The location provides access to hiking and outdoor adventures, including the Thumb Butte area and Prescott National Forest's scenic trails. The majority of residences are custom-built to harmonize with the surroundings, delivering northern Arizona vistas. The property is minutes from downtown Prescott's shops, dining, and historic charm. It is suited for professionals and retirees seeking a calm yet vibrant environment. The zoning is SF-18 (PAD).
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Gym & Fitness Center Department Store Skin Care Clinic Kitchen & Bath Showroom Electronics & Wireless Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.514458
    Latitude
    34.561407

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    FAQs

    What type of property is this?
    Residential land & home lot - Vacant land to build a luxury home in Prescott, AZ.
    Where is this residential land & home lot located?
    The property is located at 2005 Promontory Prescott, AZ.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: Premier location in Forest Trails, a prestigious neighborhood known for luxury homes and excellent resale value.; Direct access to Prescott National Forest, offering hiking and outdoor adventures.; City conveniences including city water, city sewer, and high‑speed internet, ready for a smart home.
    (928) 232-2792
    We can help!
    Listing Contact
    Paul Simari
    Request Owner's contact information
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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.

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