Live-Work Space with Private
For Sale
$719,900
116 S Alto Street, Prescott, AZ 86303
SINGLE_FAMILY - Prescott, AZ
Property Size2,800 SF
Lot Size0.24 Acres
Price / SF$257.11
Days on Market56
Property Features for 116 S Alto Street
General Information
Property type
Residential
Property subtype
Office
Zoning
BG
Parking
12
Security features
Security System, Security
Interior features
Fire/Smoke Detector, Security/Alarm
Exterior features
Fence
Fencing
Fenced
Subdivision
Fleurys Addition
Directions
From courthouse, go west on Gurley St, continue past Park Ave, 2nd left from Park Ave., to building on right.
Standard status
Active
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FLEURY ADD BEING A PTN OF LOT 9 BLK 14 LYNG 150' FROM THE NE C OR OF SAID LOT
Tax Annual Amount
2710
Legal Description
FLEURY ADD BEING A PTN OF LOT 9 BLK 14 LYNG 150' FROM THE NE C OR OF SAID LOT
Utilities
Utilities
Phone Available
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Number of units
1
Flooring type
Laminate, Carpet
Building materials
Block/Brick, Frame, Stucco
Roof type
Rolled Hot Mop
Listing Agency:
Berkshire Hathaway HomeService AZ Properties · Berkshire Hathaway HomeServices
(928) 778-3400
Listed By:
Benjamin Filer · License #BR008150000
(928) 710-1832
Added: Jun 17
Changed: Aug 10
Last Checked: Aug 10 at 11:06PM
MLS# 1083083
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.
Investment Insights
Based on property information with market context.
Live-work space at 116 S Alto Street in Prescott, AZ, built in 1974 and situated on a 0.24-acre lot. The property includes 2,800 SF of Class A office space with six office suites plus a conference room, waiting room, and adjoining reception office. Interior features include laminate and carpet flooring, fire/smoke detectors, and a security/alarm system, with a multi-sex bathroom on-site.
The layout also includes a private one-bedroom apartment with its own private bath, living room, and kitchen—supporting flexible live-and-work use. Heating is provided by natural gas, and cooling is central air. Exterior features include fencing, and the property is described with block/brick, frame, and stucco construction, along with a rolled hot mop roof. Utilities noted include public water and phone availability.
The layout also includes a private one-bedroom apartment with its own private bath, living room, and kitchen—supporting flexible live-and-work use. Heating is provided by natural gas, and cooling is central air. Exterior features include fencing, and the property is described with block/brick, frame, and stucco construction, along with a rolled hot mop roof. Utilities noted include public water and phone availability.
Key Highlights
- 2,800 SF live‑work space with six office suites
- Private one‑bedroom apartment with private bath, living room, and kitchen
- Conference room plus waiting room and adjoining reception office
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
$40,724
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
5.66%
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%
$814,480
$814.5K
Cap Rate 7%
$581,771
$581.8K
Cap Rate 9%
$452,489
$452.5K
Market Conditions
NOI Build-Up for 2,800 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
$65.2K $23.28/SF
− Vacancy
−$10.9K −$3.89/SF
EGI
$54.3K $19.39/SF
− OpEx
−$13.6K −$4.85/SF
NOI
$40.7K $14.54/SF
Area
Yavapai County, AZ
Vacancy
16.70%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
25.00%
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%
$814,480
Cap Rate 7%
$581,771
Cap Rate 9%
$452,489
Alternative Uses
Best Use
Office B
$581.8K
$509.1K – $678.7K
NOI $40,724 @ 7.0% cap · market cap 5.66%
Second Best
Mixed Use
$540.0K
$472.5K – $630.0K
NOI $37,800 @ 7.0% cap · market cap 5.25%
Theoretical Best
Warehouse
$938.0K
$820.7K – $1.09M
NOI $65,659 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - BG-zoned live-work space with a private one-bedroom apartment, central air, and natural gas heating.
Where is this live-work space located?
The property is located at 116 S Alto Street Prescott, AZ.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: 2,800 SF live‑work space with six office suites; Private one‑bedroom apartment with private bath, living room, and kitchen; Conference room plus waiting room and adjoining reception office
