Historic Downtown Mixed-Use
For Sale
$995,000
346 S Montezuma St, Prescott, AZ 86303
Commercially zoned historic asset with modern updates and flexible BR zoning in walkable Downtown Prescott.
Property Size3,482 SF
Price / SF$285.76
Days on Market39
Property Features for 346 S Montezuma St
General Information
Standard status
Active
Size
3,482 SF
Property subtype
Multi-Family
Building Details
Year Built
1917
Listing Agency:
Prescott Luxury Realty & Investments
Listed By:
Chadwick W DeVries
Source:
Legacyren
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 30 at 6:48PM
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 Prescott Luxury Realty & Investments
Investment Insights
Based on property information with market context.
The Wilder House is a historic mixed-use property constructed in 1917 and updated with modern improvements. Its commercially zoned setting and flexible BR zoning support consideration for hospitality, professional office, mixed-use, or flagship business applications as described for the property.
Located in Downtown Prescott at 346 S Montezuma St, the property is positioned within a walkable downtown environment. The asset combines an established historic identity with contemporary updates and a range of potential commercial applications.
Located in Downtown Prescott at 346 S Montezuma St, the property is positioned within a walkable downtown environment. The asset combines an established historic identity with contemporary updates and a range of potential commercial applications.
Key Highlights
- Historic property constructed in 1917
- Commercially zoned mixed‑use asset
- Flexible BR zoning
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
$47,007
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
4.72%
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%
$940,140
$940.1K
Cap Rate 7%
$671,529
$671.5K
Cap Rate 9%
$522,300
$522.3K
Market Conditions
NOI Build-Up for 3,482 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
$83.6K $24.00/SF
− Vacancy
−$8.4K −$2.40/SF
EGI
$75.2K $21.60/SF
− OpEx
−$28.2K −$8.10/SF
NOI
$47.0K $13.50/SF
Area
Yavapai County, AZ
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$940,140
Cap Rate 7%
$671,529
Cap Rate 9%
$522,300
Alternative Uses
Best Use
Mixed Use
$671.5K
$587.6K – $783.5K
NOI $47,007 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.17M
$1.02M – $1.36M
NOI $81,652 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,215
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned historic asset with modern updates and flexible BR zoning in walkable Downtown Prescott.
Where is this mixed-use property located?
The property is located at 346 S Montezuma St Prescott, AZ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Historic property constructed in 1917; Commercially zoned mixed‑use asset; Flexible BR zoning
