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    Versatile Flex Space in Prescott Title is generated by Realmo AI

    222 1/2 S Montezuma Street, Prescott, AZ 86303

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    For Lease
    $10 SF/Yr $4,166/Mo (calc)

    COMMERCIAL - Prescott, AZ

    Property size:
    5,000 SF
    Lot size:
    0.48 Acres
    Added:
    Mar 2, 2026
    Days on Market:
    93
    Last Refresh:
    Jun 3 at 5:06 pm

    Property Features for 222 1/2 S Montezuma Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    DTB
    Parking
    2
    Parking features
    On Street
    Exterior features
    Drip System, Fence
    Fencing
    Fenced
    Standard status
    Active
    Size
    5,000 SF
    Lot size
    0.48 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Prescott Original Townsite per MAP 4 22 Block 19, Lots 9, 11, and 13, less the south 10 ft of Lot 13.
    Tax Annual Amount
    11307

    Utilities

    Utilities
    Phone Available
    Heating system
    Natural Gas
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    1
    Number of units
    8
    Flooring type
    Carpet, Concrete
    Building materials
    Gray Shell
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Abigail Chartier

    Listing agent Abigail Chartier License #SA710066000

    Listing office Arizona Commercial 122 N. Cortez St. Suite #300, Phoenix, AZ

    Listing date Mar 2, 2026

    MLS# 1079935

    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

    • 5,000 sq ft flex space ideal for various businesses
    • Prime downtown Prescott location
    • Two gated parking spaces included
    • Functional layout with main warehouse (70' x 45'), two private offices, storage, breakroom, and two restrooms
    • Dual access from Montezuma Street and rear alleyway
    • Additional patio space available off Montezuma Street

    Overview

    This 5,000 square foot flex space is available for lease and offers a functional layout suitable for light industrial, storage, distribution, or creative service-based businesses, such as a gym, speakeasy, dancing club, or arcade. The main warehouse area measures approximately 70' x 45', providing open-span workspace with usability and flexibility. The property includes two private offices, additional storage rooms, a breakroom, and two restrooms, allowing for separation of administrative and operational functions. Access is available from Montezuma Street as well as the rear alleyway, enhancing operational flow and delivery convenience. An additional patio space can be utilized off Montezuma Street. Two gated parking spaces are included, providing secure on-site parking in a desirable downtown location. This versatile warehouse space is located in the heart of Prescott's downtown corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    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.

    Similar Places Nearby

    • Hawk & Hound Catering and Events — 234 S Cortez St, Prescott, AZ 86303
    • Perfect Events Catering — Prescott, AZ 86301
    • Catering By Liz | Weddings, Reunions, Corporate Events, Funerals, BBQ, Cocktail Parties — 522 Juniper Dr, Prescott, AZ 86303

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.470593
    Latitude
    34.539088

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    FAQs

    What type of property is this?
    Flex space - 5,000 SF flex space ideal for various business types.
    Where is this flex space located?
    The property is located at 222 1/2 S Montezuma Street Prescott, AZ.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 5,000 sq ft flex space ideal for various businesses; Prime downtown Prescott location; Two gated parking spaces included
    (928) 642-3032
    We can help!
    Listing Contact
    Abigail Chartier
    Real Estate License ID: SA710066000
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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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