Exceptional Location, Commercial/Residential
For Sale
$849,500
1237 N Rhinestone Dr, Prescott, AZ 86301
Rare Opportunity for Exceptional Location Zoned For Commercial and/or Residential
Property Size2,863 SF
Lot Size0.91 Acres
Price / SF$296.72
Days on Market340
Property Features for 1237 N Rhinestone Dr
General Information
Standard status
Active
Property type
Office buildings, Office Spaces
Size
2,863 SF
Net Rentable
2,863 SF
Total Parking Spaces
11
Lot size
0.91 Acres
Building Details
Year Built
2004
Buildings
1
Stories
1
Listed By:
Living Joyfully
(928) 515-2363
Added: Nov 15, 2025
Changed: Apr 8
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property, originally constructed as a model home, is situated in a rapidly developing area near a new hospital and offers significant advertising potential due to its visibility from Highway 69, a major thoroughfare to Prescott. The property is centrally located to serve Prescott, Prescott Valley, Chino Valley, and Dewey, Arizona. Zoned RS-12 (Residential and Services), it features professional landscaping and a recently resurfaced and sealed parking lot, providing convenient access to the Quad Cities area. The building's placement ensures minimal neighbor visibility and maximizes views of the valley and mountains. The 2863-square-foot property can function as a residence, a commercial space, or a combination of both, offering diverse income opportunities. A separate residential entrance allows for dual-purpose use, enabling occupancy or rental of the residential section. The walk-in basement facilitates remodeling and provides ample storage. The commercial septic system is designed to accommodate an additional building. Located in Yavapai County, the property benefits from the absence of city taxes. The lot size is 0.91 acres.
Key Highlights
- Zoning: RS‑12 (Residential and Services)
- Centrally located to serve Prescott, Prescott Valley, Chino Valley and Dewey, Arizona (Quad Cities).
- Dual‑purpose layout with separate residential entrance. Escape the commute and occupy or rent the residential side.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,640
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$832,800
$832.8K
Cap Rate 7%
$594,857
$594.9K
Cap Rate 9%
$462,667
$462.7K
Market Conditions
NOI Build-Up for 2,863 SF
Gross rent
$66.7K $23.28/SF
− Vacancy
−$11.1K −$3.89/SF
EGI
$55.5K $19.39/SF
− OpEx
−$13.9K −$4.85/SF
NOI
$41.6K $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 Rate 5%
$832,800
Cap Rate 7%
$594,857
Cap Rate 9%
$462,667
Alternative Uses
Best Use
Office B
$594.9K
$520.5K – $694.0K
NOI $41,640 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$959.1K
$839.2K – $1.12M
NOI $67,137 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Explore this area
Business Placement
Demographics for 86301, AZ
25,115
Population
13,863
Households
1.8
Avg Household Size
57
Median Age
37%
College-Educated
96%
High-School Grad
33.4 sq mi
ZIP Area
752
Density / Sq Mi
$71,962
Median Household Income
$33,989
Median Earnings
$1,580
Median Rent
$495,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Rare Opportunity for Exceptional Location Zoned For Commercial and/or Residential
Where is this office building located?
The property is located at 1237 N Rhinestone Dr Prescott, AZ.
What is the asking price?
The asking price for this property is $849,500.
What are key features of this property?
This property features: Zoning: RS‑12 (Residential and Services); Centrally located to serve Prescott, Prescott Valley, Chino Valley and Dewey, Arizona (Quad Cities).; Dual‑purpose layout with separate residential entrance. Escape the commute and occupy or rent the residential side.
