Historic Bank
For Sale
$3,150,826
147 N Cortez Street, Prescott, AZ 86301
Commercial Sale, Prescott, AZ
Property Size12,500 SF
Lot Size0.34 Acres
Price / SF$252.07
Days on Market50
Property Features for 147 N Cortez Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DTB
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 3, Bathroom 1
Parking
6
Parking features
On Street
Interior features
Ceiling Fan(s)
Subdivision
Prescott Original Township
Directions
Take Gurley Street to North Cortez Street. Premises is on the corner of E Willis Street and N Cortez Street.
Standard status
Active
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PRESCOTT LOTS 2 4 BLK 9 627/688
Tax Annual Amount
19170
Legal Description
PRESCOTT LOTS 2 4 BLK 9 627/688
Utilities
Utilities
Natural Gas Available
Heating system
Electric (Heating), Natural Gas
Cooling system
Gas (Cooling), Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1916
Floors in Building
2
Number of units
3
Flooring type
Carpet, Laminate, Wood
Building materials
Frame, Stucco
Roof type
Asphalt, Rolled Hot Mop
Listing Agency:
Rent Right and Home Right
(928) 771-0308
Listed By:
Tiffany C Taylor
(928) 458-4614
Added: Sep 4
Changed: Oct 18
Last Checked: Oct 23 at 1:06PM
MLS# 1084865
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.
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Investment Insights
Based on property information with market context.
At 147 N Cortez Street, this 1916 commercial building contains approximately 12,500 square feet on a 0.34-acre lot. Its former bank configuration includes multiple private offices, conference areas, restrooms, storage, a break room and larger open rooms. An original bank vault remains in place. Interior finishes include carpet, wood and laminate flooring, with frame and stucco construction.
The property is in Prescott’s downtown NOCO District near E Willis Street, with restaurants, shops and professional services in the surrounding area. Zoning is DTB. Public water and natural gas availability are reported; on-street parking is listed.
The property is in Prescott’s downtown NOCO District near E Willis Street, with restaurants, shops and professional services in the surrounding area. Zoning is DTB. Public water and natural gas availability are reported; on-street parking is listed.
Key Highlights
- Approximately 12,500 square feet on a 0.34‑acre lot
- Built in 1916; an original bank vault remains
- Existing layout includes private offices, conference areas, restrooms, storage, a break room and open space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$216,685
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,333,700
$4.3M
Cap Rate 7%
$3,095,500
$3.1M
Cap Rate 9%
$2,407,611
$2.4M
Market Conditions
NOI Build-Up for 12,500 SF
Gross rent
$325.5K $26.04/SF
− Vacancy
−$15.9K −$1.28/SF
EGI
$309.6K $24.76/SF
− OpEx
−$92.9K −$7.43/SF
NOI
$216.7K $17.33/SF
Area
Yavapai County, AZ
Vacancy
4.90%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,333,700
Cap Rate 7%
$3,095,500
Cap Rate 9%
$2,407,611
Alternative Uses
Best Use
Retail
$3.10M
$2.71M – $3.61M
NOI $216,685 @ 7.0% cap · market cap 6.88%
Second Best
Specialty Retail
$2.37M
$2.08M – $2.77M
NOI $166,196 @ 7.0% cap · market cap 5.27%
Theoretical Best
Warehouse
$4.19M
$3.66M – $4.89M
NOI $293,123 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,983
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 23%
Hotels & Casinos 4%
Shell
Shops & Services
6,127 visits/mo
0.5 miles
Chase Bank
Shops & Services
5,350 visits/mo
0.2 miles
Rosati's Chicago Pizza
Dining
3,658 visits/mo
0.1 miles
The UPS Store
Shops & Services
3,349 visits/mo
0.2 miles
Parlor Doughnuts
Dining
1,412 visits/mo
0.1 miles
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
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Bank - DTB-zoned property retains an original vault and a range of private and open work areas.
Where is this bank located?
The property is located at 147 N Cortez Street Prescott, AZ.
What is the asking price?
The asking price for this property is $3,150,826.
What are key features of this property?
This property features: Approximately 12,500 square feet on a 0.34‑acre lot; Built in 1916; an original bank vault remains; Existing layout includes private offices, conference areas, restrooms, storage, a break room and open space
