Quadplex With Secure
For Sale
Contact for pricing
Pending
290 Madison Avenue, Prescott, AZ 86301
Four matching residences offer month-to-month occupancy, individual storage rooms, private parking, and separate mailboxes.
Property Size3,120 SF
Days on Market423
Property Features for 290 Madison Avenue
General Information
Standard status
Pending
Size
3,120 SF
Property subtype
Multifamily
Zoning
MF-M
Additional Details
Multifamily Units
4
Amenities
private concrete parking lot
secure storage room
separate mailboxes
Building Details
Year Built
1986
Buildings
1
Stories
2
Units
4
Listing Agency:
Arizona Commercial Real Estate
(480) 309-1089
Listed By:
Matthew Fish · License #BR626105000
Source:
Crexi
Added: Jul 5, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:18PM
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 Real Estate
Investment Insights
Based on property information with market context.
This 3,120-square-foot quadplex, constructed in 1986, contains four matching units arranged with two residences on the upper level and two below. Each unit includes a dedicated secure storage room positioned at the south end of the building, near the private concrete parking area. Separate mailboxes are accessible from the parking area.
All four tenants currently occupy their units on a month-to-month basis. The property is zoned MF-M and is located at 290 Madison Avenue in Prescott, Arizona. The offering also cites a 7.50% CAP rate associated with the property's rental performance.
All four tenants currently occupy their units on a month-to-month basis. The property is zoned MF-M and is located at 290 Madison Avenue in Prescott, Arizona. The offering also cites a 7.50% CAP rate associated with the property's rental performance.
Key Highlights
- Four‑unit property with identical floor plans; two units upstairs and two downstairs
- 3,120 SF building constructed in 1986
- Dedicated secure storage room for each unit
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
$35,722
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
5.21%
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%
$714,440
$714.4K
Cap Rate 7%
$510,314
$510.3K
Cap Rate 9%
$396,911
$396.9K
Market Conditions
NOI Build-Up for 3,120 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
$54.3K $17.40/SF
− Vacancy
−$3.3K −$1.04/SF
EGI
$51.0K $16.36/SF
− OpEx
−$15.3K −$4.91/SF
NOI
$35.7K $11.45/SF
Area
Yavapai County, AZ
Vacancy
6.00%
Lease Rate
$17.40 /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%
$714,440
Cap Rate 7%
$510,314
Cap Rate 9%
$396,911
Alternative Uses
Best Use
Multifamily LT 5
$510.3K
$446.5K – $595.4K
NOI $35,722 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$475.1K
$415.7K – $554.3K
NOI $33,256 @ 7.0% cap · market cap 4.85%
Theoretical Best
Warehouse
$1.05M
$914.5K – $1.22M
NOI $73,163 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,538
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching residences offer month-to-month occupancy, individual storage rooms, private parking, and separate mailboxes.
Where is this quadplex located?
The property is located at 290 Madison Avenue Prescott, AZ.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Four‑unit property with identical floor plans; two units upstairs and two downstairs; 3,120 SF building constructed in 1986; Dedicated secure storage room for each unit
