Modern Office/Industrial Facility For
For Sale
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2220 Taxi Way, Prescott, AZ 86301
Modern office/industrial building with exceptional access and functionality in Prescott.
Property Size10,112 SF
Price / SF$316.46
Days on Market436
Property Features for 2220 Taxi Way
General Information
Standard status
Active
Size
10,112 SF
Total Parking Spaces
57
Property subtype
Industrial, Office
Zoning
BG
Net Operating Income
$198,000
Building Details
Year Built
2022
Buildings
1
Stories
2
Units
2
Listing Agency:
Berkshire Hathaway HomeServices
Listed By:
Scott Armstrong · License #AZ
Source:
Crexi
Added: Jun 6, 2025
Changed: Aug 14
Last Checked: Aug 14 at 6:04AM
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 Berkshire Hathaway HomeServices
Investment Insights
Based on property information with market context.
This contemporary office/industrial building, approximately 2.5 years old, is located in Prescott, Arizona. The property features an elevator that services both floors and full drive-around access to facilitate logistics. A secure, fenced yard provides space for equipment or product storage. The property is suitable for either industrial or office use.
Key Highlights
- Modern construction: Built in 2022, only 2.5 years old.
- Full drive‑around access for efficient logistics.
- Secure, fenced yard for storage.
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
$195,279
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
6.10%
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%
$3,905,580
$3.9M
Cap Rate 7%
$2,789,700
$2.8M
Cap Rate 9%
$2,169,767
$2.2M
Market Conditions
NOI Build-Up for 10,112 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
$293.7K $29.04/SF
− Vacancy
−$14.7K −$1.45/SF
EGI
$279.0K $27.59/SF
− OpEx
−$83.7K −$8.28/SF
NOI
$195.3K $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%
$3,905,580
Cap Rate 7%
$2,789,700
Cap Rate 9%
$2,169,767
Alternative Uses
Best Use
Industrial
$2.79M
$2.44M – $3.25M
NOI $195,279 @ 7.0% cap · market cap 6.10%
Second Best
Flex RnD
$1.26M
$1.10M – $1.47M
NOI $88,129 @ 7.0% cap · market cap 2.75%
Theoretical Best
Warehouse
$3.39M
$2.96M – $3.95M
NOI $237,124 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Modern office/industrial building with exceptional access and functionality in Prescott.
Where is this flex space located?
The property is located at 2220 Taxi Way Prescott, AZ.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Modern construction: Built in 2022, only 2.5 years old.; Full drive‑around access for efficient logistics.; Secure, fenced yard for storage.
