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

    654 W Gurley St Prescott, AZ 86305

    Sponsored
    For Sale
    $675,000

    MULTI_FAMILY - Prescott, AZ

    Lot size:
    0.17 Acres
    Days on Market:
    9
    Last Refresh:
    Feb 26 at 9:06 am

    Property Features for 654 W Gurley St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    bg
    Rooms
    Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
    Bedrooms
    3
    APN
    10
    Exterior features
    Laundry Facilities, Balcony
    Lot size
    0.17 Acres

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Electric (Heating)
    Cooling system
    Ceiling Fan(s), Ductless
    Water source
    Public

    Building Details

    Year built
    1933
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Tile, Laminate
    Building materials
    Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Maria Koveikis

    Realty ONE Group Mountain Desert (928) 680-7350

    Listing agent Maria Koveikis (928) 533-1960

    Listing date Feb 18, 2026

    MLS# 1079630 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

    Property Insight Report

    Overview

    Mixed-Use Property with Rental Income

    This property, zoned Business General, offers endless possibilities for residential and commercial use. Currently configured as three separate one-bedroom units, it presents a fabulous investment opportunity. The front unit is rented for $1550 through February 28, 2026, and the back unit is rented for $1700 until June 7, 2026. The owner occupies the remaining unit. Two units could be combined to create a larger living area while retaining an in-law suite or rental unit, or the property can function as three rental units. Recent updates include new mini-splits in 2021, a new roof in 2022, and a new water heater in 2022, along with fresh exterior and interior paint. The property features a large one-car garage with ample storage space and a well-maintained yard with raised bed growing options. Ideally, the property will be sold furnished. Built in 1933 with additions in 1983 and the 1990s, this property combines the benefits of commercial and residential use on a 0.17-acre lot in Prescott, Arizona.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.478848
    Latitude
    34.543128

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    FAQs

    What type of property is this?
    Mixed-use property - Immaculate mixed-use property with rental income potential in Prescott, AZ.
    Where is this mixed-use property located?
    The property is located at 654 W Gurley St Prescott, AZ.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: - Zoned Business General: Allows for versatile investment opportunity.; - Income Potential: Currently configured as 3 units with 2 units rented for a combined $3250/month.; - Recent Upgrades: Features a new roof (2022), new water heater (2022), and new mini-splits (2021).
    (928) 533-1960
    Request Owner's contact information
    654 W Gurley St Prescott, AZ 86305
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    Prescott, AZ 86305
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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
    654 W Gurley St Prescott, AZ 86305
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    We can help!
    Listing Contact
    Maria Koveikis
    (928) 533-1960
    Learn more
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