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    The Largest CRE Database in the US with Over 1 Million Listings

    201 S Cortez St Prescott, AZ 86303

    Sponsored
    For Lease
    $32 SF/Yr

    COMMERCIAL - Prescott, AZ

    Type:Retail
    Lot size:
    0.60 Acres
    Days on Market:
    37
    Last Refresh:
    Feb 5 at 3:06 am

    Property Features for 201 S Cortez St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Property condition
    Under Construction
    Standard status
    Active
    Security features
    Security Lighting, Security
    Zoning
    DTB
    Interior features
    Ceiling Fan(s), Elevator(s), Fire/Smoke Detector, Security/Alarm
    Exterior features
    Drip System, Handicap Access
    Accessibility
    Accessible Elevator Installed, Accessible Approach with Ramp
    Lot size
    0.60 Acres

    Utilities

    Utilities
    Phone Available
    Heating system
    Natural Gas, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2027
    Floors in Building
    4
    Number of units
    2
    Building materials
    Build to Suit, Floor Plans, Permits Drawn, Work in Progress
    Roof type
    Rolled Hot Mop, Membrane

    We can help!

    Listing Contact
    Matthew Fish
    Matthew Fish

    Arizona Commercial LLC

    Listing agent Matthew Fish (480) 309-1089

    Listing date Dec 31, 2025

    MLS# 1078458

    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

    Downtown Prescott Retail Opportunity

    This premier retail opportunity is located in the heart of Downtown Prescott. Situated on the hard corner of the Courthouse Square, the location offers maximum visibility and a steady stream of foot traffic. The approved monumental hotel project at 201 S. Cortez features one large retail suite or two smaller high-end suites. The development is designed to harmonize with Prescott's historic character while delivering contemporary upgrades. It features thoughtfully integrated storefronts, flexible floor plans, and up-to-date infrastructure to support a range of retail concepts. Benefiting from the city's dining and shopping scene and just steps from iconic streets and charming courtyards, this destination places businesses at the epicenter of Prescott's vibrant urban life. Plans are available to help with space planning. The lot size is 0.6 acres. The zoning is DTB.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Prescott Geographic Info ... City Government Office Carvana Prescott Car Dealership Murphy's Restaurant Restaurant City of Prescott City Hall Prescott Risk Management City Government Office

    Suggested Use

    Restaurant Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.468347
    Latitude
    34.539548

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    FAQs

    What type of property is this?
    Retail space - Premier retail suites available in the heart of Prescott.
    Where is this retail space located?
    The property is located at 201 S Cortez St Prescott, AZ.
    What is the lease rate?
    The lease rate is $32 SF/Yr.
    What are key features of this property?
    This property features: - Premier retail location on the hard corner of Courthouse Square in Downtown Prescott, ensuring maximum visibility and foot traffic.; - Part of an approved monumental hotel project at 201 S. Cortez, offering a high-end retail environment.; - Build-to-suit opportunity with available floor plans to customize the space to specific business needs.
    (480) 309-1089
    Request Owner's contact information
    201 S Cortez St Prescott, AZ 86303
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    Prescott, AZ 86303
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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
    201 S Cortez St Prescott, AZ 86303
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    We can help!
    Listing Contact
    Matthew Fish
    Matthew Fish
    Real Estate License ID: BR626105000
    (480) 309-1089
    Learn more
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