Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    214 N Arizona Ave Prescott, AZ 86301

    Sponsored
    For Sale
    $3,750,000

    MULTI_FAMILY - Prescott, AZ

    Property size:
    11,600 SF
    Lot size:
    0.64 Acres
    Days on Market:
    5
    Last Refresh:
    Mar 2 at 11:06 pm

    Property Features for 214 N Arizona Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MF-M
    APN
    Multi
    Exterior features
    Handicap Access
    Accessibility
    Accessible Approach with Ramp
    Size
    11,600 SF
    Lot size
    0.64 Acres

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Electric (Heating), Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air, Evaporative Cooling, Ceiling Fan(s), Heat Pump
    Water source
    Public

    Building Details

    Year built
    1992
    Number of units
    12
    Flooring type
    Carpet, Laminate, Tile
    Building materials
    Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Nick Malouff

    Commercial Advisors of Prescott (928) 925-2023

    Listing agent Nick Malouff (928) 443-8800

    Listing date Feb 26, 2026

    MLS# 1079801 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.

    Learn more

    Overview

    Prescott Multifamily Investment Opportunity

    This offering features a fully leased 12-unit plus office multifamily portfolio located in Downtown Prescott. The property consists of three parcels totaling approximately 0.64 acres, with approximately 11,600 square feet of improvements. The property is 100% leased to a licensed treatment operator under a modified NNN lease structure. The current rent is $20,800 per month, with a 4% increase upon renewal, producing $249,600 in annual income post-renewal. The tenant reimburses operating expenses and pays property taxes directly. Zoned MF-M, the property offers long-term flexibility for continued multifamily use or redevelopment. This presents a stabilized investment opportunity in a supply-constrained downtown submarket.
    Location Intelligence

    Current Use by Public Records

    Sex Addiction & Drug/Alcohol ... Medical Clinic

    Suggested Use

    Restaurant Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon Daycare Center Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.459653
    Latitude
    34.544583

    Nearby Similar for Sale

    • $849,900
      2,858 SF

      Medical Office Building For Sale

      2,858 sqft medical office near hospital and high school.
      1011 Ruth St, Prescott, AZ 86301
      View Details
    • New
      $599,478
      0.20 Acres

      Downtown Prescott Commercial Opportunity

      Versatile commercial space in downtown Prescott, suitable for various businesses.
      112 N Summit Ave, Prescott, AZ 86301
      View Details
    • $650,000
      Pending

      High-Traffic Prescott Commercial Building

      Versatile commercial building on a high-traffic corridor in Prescott.
      625 Miller Valley Rd, Prescott, AZ 86301
      View Details
    • $1,299,000
      2,667 SF

      Prime Retail Space in Prescott

      Renovated retail space with business opportunity in downtown Prescott.
      447 S Montezuma St, Prescott, AZ 86303
      View Details
    • $475,000
      1,361 SF

      Professional Office Building Near Hospital

      Well-maintained office building suitable for healthcare providers or investment.
      143 E Merritt St, Prescott, AZ 86301
      View Details
    • $675,000
      0.17 Acres

      Mixed-Use Property with Rental Income

      Immaculate mixed-use property with rental income potential in Prescott, AZ.
      654 W Gurley St, Prescott, AZ 86305
      View Details
    • $1,800,000
      Pending

      Prescott Office Condo Opportunity

      Nine-unit office condo near downtown Prescott with investment potential.
      143 N Mccormick St, Prescott, AZ 86301
      View Details
    • $849,000
      0.18 Acres

      Income-Producing Multifamily Property

      Multifamily property with in-place rents and value-add potential.
      658 W Gurley St, Prescott, AZ 86305
      View Details
    • $4,500,000
      0.86 Acres

      Downtown Prescott Investment Opportunity

      Prime investment property near Courthouse Square with diverse tenant mix.
      141 S Mccormick St, Prescott, AZ 86303
      View Details
    • $1,650,000
      1.06 Acres

      Willow Creek Auto Spa Prescott

      Car wash with detailing business on 1.06 acres.
      3112 Willow Creek Rd, Prescott, AZ 86301
      View Details
    • New
      $130,000
      Pending

      Mini Warehouse for RV Storage

      713 SF mini warehouse with 24/7 security in Prescott, AZ.
      2899 Venture Dr, Prescott, AZ 86301
      View Details
    • New
      $539,999
      Pending

      Upgraded Duplex Near Downtown Prescott

      Two-unit farmhouse with modern amenities and rental income potential.
      533 Dameron Dr, Prescott, AZ 86301
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully leased 12-unit multifamily portfolio in downtown Prescott.
    Where is this apartment building located?
    The property is located at 214 N Arizona Ave Prescott, AZ.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: - Fully leased 12-unit multifamily portfolio with office in Downtown Prescott, providing immediate income.; - 100% leased to a licensed treatment operator under a modified NNN lease, offering stable cash flow.; - Current rent of $20,800/month increases 4% upon renewal, producing $249,600 in annual income post-renewal.
    (928) 925-2023
    Request Owner's contact information
    214 N Arizona Ave Prescott, AZ 86301
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    214 N Arizona Ave
    Prescott, AZ 86301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    214 N Arizona Ave Prescott, AZ 86301
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nick Malouff
    Real Estate License ID: SA670765000
    (928) 925-2023 (928) 443-8800
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!