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    242 Whipple Street Prescott, AZ 86301

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    For Lease
    $14 SF/Yr

    COMMERCIAL - Prescott, AZ

    Type:Office
    Lot size:
    0.44 Acres
    Added:
    Dec 10, 2025
    Days on Market:
    143
    Last Refresh:
    May 2 at 2:06 am

    Property Features for 242 Whipple Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    BG
    Parking
    30
    Security features
    Security Lighting
    Interior features
    Elevator(s)
    Exterior features
    Handicap Access
    Accessibility
    Accessible Elevator Installed, Accessible Approach with Ramp
    Standard status
    Active
    Lot size
    0.44 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    AN IRREGULAR PARCEL LYING IN THE SOUTHWEST QUARTER OF THE SOUTHEA ST QUARTER SOUTHEAST PARCEL CORNER APPROXIMATELY 283' NORTH & 129 7' WEST OF THE SOUTHEAST SECTION CORNER CONTAIN 0.44 ACRES
    Tax Annual Amount
    9802

    Utilities

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

    Building Details

    Year built
    1997
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Vinyl, Laminate, Concrete
    Building materials
    Steel Frame, Stucco
    Roof type
    Membrane, Metal

    We can help!

    Listing Contact
    Scot Tomitz

    Listing agent Scot Tomitz License #SA034864000

    Listing office Iannelli and Associates 201 N Alarcon Suite F, Phoenix, AZ

    Listing date Dec 10, 2025

    MLS# 1078213

    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.

    Overview

    Prescott Commercial Space Near Hospital

    This commercial property in Prescott, Arizona, is suitable for medical or office use. Located very close to the hospital, the property features six rooms with sinks, a waiting room, and a reception area. The building offers views and ample parking space. Advertising opportunities are available on the building, which is situated on a busy main road. The lot size is 0.44 acres. The zoning is BG. A one- or two-bedroom apartment is available on-site for live-work arrangements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Douglas Rothrock Physician Vein Specialties Medical Clinic Vein Speciaties Medical Clinic Vitality Health and Wellness Alternative Medicine Practice Dr. Catherine C. ... Physician

    Suggested Use

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

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

    Similar Places Nearby

    • Prescott Animal Hospital — 1318 W Iron Springs Rd, Prescott, AZ 86305
    • Harmony Veterinary Care — 826 Sunset Ave, Prescott, AZ 86305
    • Killian Raenell DVM — 1318 W Iron Springs Rd, Prescott, AZ 86305
    • Pauletto Tammy J DVM — 1318 W Iron Springs Rd, Prescott, AZ 86305, United States
    • Nolte Bryan DVM — 1318 W Iron Springs Rd, Prescott, AZ 86305

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.471675
    Latitude
    34.557304

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    FAQs

    What type of property is this?
    Medical Office Space - Medical/office space near hospital with parking and advertising options.
    Where is this medical office space located?
    The property is located at 242 Whipple Street Prescott, AZ.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Prime location near hospital, ideal for medical or office use.; Ample parking space and building advertising opportunities on a busy main road.; Six rooms with sinks, waiting room, and reception area already in place.
    (602) 471-2700
    We can help!
    Listing Contact
    Scot Tomitz
    Real Estate License ID: SA034864000
    Learn More
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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
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    242 Whipple Street, Prescott, AZ 86301

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