Four-Bay Automotive Repair
For Sale
$1,050,000
102 Cory Ave, Prescott, AZ 86303
Established repair operation with lifts, alignment equipment, tire machine, and detached storage.
Property Size1,860 SF
Price / SF$564.52
Days on Market169
Property Features for 102 Cory Ave
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Service Bays
4
Amenities
Detached Storage Shed
Shower
Building Details
Year Built
1990
Buildings
1
Listing Agency:
Realty ONE Group Mountain Desert
(928) 910-9037
Listed By:
Judy Ellen Smith · License #SA658734000
Source:
Searchprescotthouses
Added: Mar 14
Changed: Aug 28
Last Checked: Aug 28 at 12:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group Mountain Desert
Investment Insights
Based on property information with market context.
This 1,860-square-foot automotive repair property includes four service bays, with a lift assigned to each bay. Existing automotive equipment conveys with the property, including a new alignment machine and new tire machine. A detached storage shed provides additional on-site utility, while the bathroom includes an added shower. Built in 1990, the facility has also received multiple improvements.
The property is located near downtown Prescott at 102 Cory Ave. Showings are available after hours only so ongoing employees and customers are not disturbed.
The property is located near downtown Prescott at 102 Cory Ave. Showings are available after hours only so ongoing employees and customers are not disturbed.
Key Highlights
- 1,860 SF automotive repair property built in 1990
- Four service bays, each equipped with a lift
- Existing automotive equipment included in the sale
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,920
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$718,400
$718.4K
Cap Rate 7%
$513,143
$513.1K
Cap Rate 9%
$399,111
$399.1K
Market Conditions
NOI Build-Up for 1,860 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.0K $29.04/SF
− Vacancy
−$2.7K −$1.45/SF
EGI
$51.3K $27.59/SF
− OpEx
−$15.4K −$8.28/SF
NOI
$35.9K $19.31/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$718,400
Cap Rate 7%
$513,143
Cap Rate 9%
$399,111
Alternative Uses
Best Use
Industrial
$513.1K
$449.0K – $598.7K
NOI $35,920 @ 7.0% cap · market cap 3.42%
Second Best
Retail
$460.6K
$403.0K – $537.4K
NOI $32,243 @ 7.0% cap · market cap 3.07%
Theoretical Best
Warehouse
$623.1K
$545.2K – $727.0K
NOI $43,617 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 86303, AZ
18,201
Population
12,255
Households
1.5
Avg Household Size
61
Median Age
41%
College-Educated
96%
High-School Grad
107.2 sq mi
ZIP Area
170
Density / Sq Mi
$68,656
Median Household Income
$44,428
Median Earnings
$1,309
Median Rent
$502,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Granite Alley Garage — 535 S Granite St E, Prescott, AZ 86303
- AUTO GLASS FITTERS — 531 S Granite St, Prescott, AZ 86303
- AzAutoCustoms — 501 Park Ave, Prescott, AZ 86303, United States
- Apache Armor — 1523 W Gurley St, Prescott, AZ 86305
- CIEN MOTOR SPORTS — 102 Cory Ave, Prescott, AZ 86303
Frequently Asked Questions
What type of property is this?
Auto shop - Established repair operation with lifts, alignment equipment, tire machine, and detached storage.
Where is this auto shop located?
The property is located at 102 Cory Ave Prescott, AZ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 1,860 SF automotive repair property built in 1990; Four service bays, each equipped with a lift; Existing automotive equipment included in the sale
