Flex Property With Office
For Sale
$2,900,000
2220 Taxi Way, Prescott, AZ 86301
Two-story office space connects with warehouse operations and a secured, lighted yard.
Property Size10,112 SF
Price / SF$286.79
Days on Market9
Property Features for 2220 Taxi Way
General Information
Standard status
Active
Size
10,112 SF
Class
Class A
Total Parking Spaces
57
Elevators
Yes
Property subtype
Industrial
Zoning
IL
Warehouse & Industrial
Warehouse Space
6,896 SF
Office Build-Out
3,216 SF
Drive-In Doors
2
Sprinkler System
Yes
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$12,054
Amenities
conference room
break room
elevator
EV charging station
Building Details
Building Size
10,112 SF
Year Built
2022
Buildings
1
Listing Agency:
Arizona Commercial
(928) 421-0040
Listed By:
Doug Taber · License #BR721756000
Source:
Adobegr
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 21 at 10:07AM
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 Arizona Commercial
Investment Insights
Based on property information with market context.
Built in 2022, this flex property combines approximately 3,216 square feet of two-story office space with approximately 6,896 square feet of warehouse area. The office layout includes a reception lobby, conference room, executive offices, open administrative areas, a drawing room, employee break room, restroom with shower, elevator, and private second-floor balconies. The warehouse provides two grade-level roll-up doors and direct connectivity to the office component.
Site features include a secure, lighted, fenced yard with drive-around circulation, 57 on-site parking spaces, an EV charging station, and a fire sprinkler system. The property is zoned IL (Industrial Light), and the upper-level balconies overlook Granite Mountain, the Dells, and the surrounding area. Located at 2220 Taxi Way in Prescott, Arizona.
Site features include a secure, lighted, fenced yard with drive-around circulation, 57 on-site parking spaces, an EV charging station, and a fire sprinkler system. The property is zoned IL (Industrial Light), and the upper-level balconies overlook Granite Mountain, the Dells, and the surrounding area. Located at 2220 Taxi Way in Prescott, Arizona.
Key Highlights
- Approximately 10,112 SF total building area, including 3,216 SF of office and 6,896 SF of warehouse space
- Constructed in 2022 with two‑story office configuration and elevator service
- Warehouse includes two grade‑level roll‑up doors with direct office access
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
$237,124
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
8.18%
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%
$4,742,480
$4.7M
Cap Rate 7%
$3,387,486
$3.4M
Cap Rate 9%
$2,634,711
$2.6M
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
−$41.8K −$4.14/SF
NOI
$237.1K $23.45/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
15.00%
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%
$4,742,480
Cap Rate 7%
$3,387,486
Cap Rate 9%
$2,634,711
Alternative Uses
Best Use
Warehouse
$3.39M
$2.96M – $3.95M
NOI $237,124 @ 7.0% cap · market cap 8.18%
Second Best
Industrial
$2.79M
$2.44M – $3.25M
NOI $195,279 @ 7.0% cap · market cap 6.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
62
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 Office 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 - Two-story office space connects with warehouse operations and a secured, lighted yard.
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 $2,900,000.
What are key features of this property?
This property features: Approximately 10,112 SF total building area, including 3,216 SF of office and 6,896 SF of warehouse space; Constructed in 2022 with two‑story office configuration and elevator service; Warehouse includes two grade‑level roll‑up doors with direct office access
