Class A Flex Space with
New
For Sale
$2,900,000
2220 Taxi Way, Prescott, AZ 86301
COMMERCIAL - Prescott, AZ
Property Size10,112 SF
Lot Size1.77 Acres
Price / SF$286.79
Days on Market2
Property Features for 2220 Taxi Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IL
Zoning description
Industrial Light
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bathroom 2, Bathroom 1, Bathroom 3
Parking
57
Security features
Security, Security Lighting
Interior features
Elevator(s), Mezzanine, Security/Alarm
Exterior features
Drip System, Fence, Handicap Access, Storage
Fencing
Fenced
Accessibility
Accessible Elevator Installed, Accessible Approach with Ramp
Subdivision
Prescott Airpark
Lot features
Landscaped, Sprinklers In Front
Directions
North on Larry Caldwell Dr., which turns into Wilkinson Dr. Right on Gulfstream, then right on Lear Ln. Property is at the corner of Lear Ln. and Taxi Way.
Standard status
Active
Lot size
1.77 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PRESCOTT REGIONAL AIRPARK & COMMERCE CENTER LOT 55 CONT 1.77AC SEC 25-15-2W M&P 57/40-42
Tax Annual Amount
12054
Legal Description
PRESCOTT REGIONAL AIRPARK & COMMERCE CENTER LOT 55 CONT 1.77AC SEC 25-15-2W M&P 57/40-42
Utilities
Utilities
Phone Available
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
reception lobby
conference room
executive offices
open administrative work areas
take-off/drawing room
employee break room
utility restroom with shower
elevator service
private balconies
EV charging station
Building Details
Year built
2022
Floors in Building
1
Number of units
2
Flooring type
Carpet, Wood, Concrete
Building materials
Frame, Stucco
Roof type
Asphalt
Additional Structures
Storage
Listing Agency:
Arizona Commercial
(928) 515-1223
Listed By:
Doug Taber · License #BR721756000
(928) 421-0040
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 11:06AM
MLS# 1084359
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.
Investment Insights
Based on property information with market context.
Completed in 2022, this Class A flex property combines a two-story office component with an integrated warehouse. The office area measures approximately 3,216 square feet and includes a reception lobby, conference room, executive and administrative work areas, drawing room, employee break room, restroom with shower, elevator, and private balconies. The 6,896-square-foot warehouse has two grade-level roll-up doors and direct interior access to the office.
The site encompasses 1.77 acres and includes a secure, lighted, fenced yard with drive-around circulation, 57 parking spaces, an EV charging station, and a fire sprinkler system. Zoned IL (Industrial Light), the property supports a range of industrial and commercial uses. Additional features include central air, natural gas heat, concrete, wood, and carpet flooring, public water, and accessible elevator and ramp access.
The site encompasses 1.77 acres and includes a secure, lighted, fenced yard with drive-around circulation, 57 parking spaces, an EV charging station, and a fire sprinkler system. Zoned IL (Industrial Light), the property supports a range of industrial and commercial uses. Additional features include central air, natural gas heat, concrete, wood, and carpet flooring, public water, and accessible elevator and ramp access.
Key Highlights
- 2022 construction with approximately 10,112 SF of combined office and warehouse space
- Two‑story office component totals approximately 3,216 SF
- Warehouse area measures 6,896 SF with two grade‑level roll‑up doors
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
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 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 - Modern flex property combining executive office finishes, warehouse functionality, and a fenced service 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: 2022 construction with approximately 10,112 SF of combined office and warehouse space; Two‑story office component totals approximately 3,216 SF; Warehouse area measures 6,896 SF with two grade‑level roll‑up doors
