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    447 S Montezuma Street Prescott, AZ 86303

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    Claim this Listing
    Pending
    $20 SF/Yr

    COMMERCIAL - Prescott, AZ

    Type:Retail
    Lot size:
    0.21 Acres
    Added:
    May 22, 2025
    Days on Market:
    343
    Last Refresh:
    Apr 29 at 11:06 am

    Property Features for 447 S Montezuma Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    BR
    Parking features
    On Street
    Exterior features
    Handicap Access
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Pending
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Description
    PRESCOTT LOT 24 BLK 32 STRIP 10X150' OF LEROUX ST ADJ ON S OF LOT 24 BLK 32 AP3

    Utilities

    Utilities
    Phone Available
    Heating system
    Natural Gas
    Cooling system
    Gas (Cooling)
    Water source
    Public

    Building Details

    Year built
    2024
    Number of units
    1
    Flooring type
    Tile
    Building materials
    Block
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    Raymond G. Zogob
    Raymond G. Zogob

    Listing agent Raymond G. Zogob License #SA553424000

    Listing office Better Homes And Gardens Real Estate Bloomtree Realty 102 W Gurley St #102, Phoenix, AZ

    Listing date May 22, 2025

    MLS# 1073501

    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

    Renovated Retail Space in Prescott

    This is a rare opportunity to lease a fully renovated retail space, encompassing approximately 2,667 square feet, situated on a 0.21-acre lot zoned BR. The property is located on highly visible and trafficked S. Montezuma Street in downtown Prescott. The building, formerly a Circle K, was completely renovated in 2024 into a versatile retail destination. Currently operating as The Edison Market, the space blends a local market, eatery, and coffee bar. The interior features an open floor plan, a 20-foot service counter, and a 25-foot built-in reach-in refrigerator system. Tenants have the option to continue operating the current Edison Market concept or bring their own unique vision to the space. An adjacent parcel, approximately 45' x 60', located behind the building provides added flexibility and is suitable for an outdoor patio, event space, or secondary food and beverage concept. The property is zoned BR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Edison Market Restaurant ATM Atm

    Suggested Use

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

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

    Similar Places Nearby

    • Safeway — 450 White Spar Rd, Prescott, AZ 86303

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.47018
    Latitude
    34.534354

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    FAQs

    What type of property is this?
    Grocery and convenience store - Prime retail space available for lease in downtown Prescott.
    Where is this grocery and convenience store located?
    The property is located at 447 S Montezuma Street Prescott, AZ.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Fully renovated in 2024, offering a modern and updated retail space.; Prime location on highly visible and trafficked S. Montezuma Street in downtown Prescott.; Versatile space suitable for continuing the current Edison Market concept or implementing a new retail vision.
    (619) 997-3329
    We can help!
    Listing Contact
    Raymond G. Zogob
    Raymond G. Zogob
    Real Estate License ID: SA553424000
    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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