8-Unit Apartment
New
For Sale
Contact for pricing
314 S Virginia Street, Prescott, AZ 86303
Multifamily property with MF-M zoning near downtown Prescott’s restaurants, shops, and entertainment.
Property Size5,208 SF
Price / SF$211.21
Days on Market6
Property Features for 314 S Virginia Street
General Information
Standard status
Active
Size
5,208 SF
Property subtype
Multifamily
Zoning
MF-M
Occupancy
99%
Net Operating Income
$54,577
Additional Details
Multifamily Units
8
Building Details
Year Built
1980
Buildings
2
Stories
2
Units
8
Listing Agency:
Invest Southwest Commercial Real Estate
(928) 899-3111
Listed By:
Sandra Shaffer · License #AZ BR102761000
Source:
Crexi
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 5:58AM
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 Invest Southwest Commercial Real Estate
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 5,208 square feet and was built in 1980. The asset is zoned MF-M and is located at 314 S Virginia Street in Prescott, Arizona.
The property sits minutes from Prescott’s Courthouse Plaza, with downtown restaurants, boutiques, entertainment, and employment centers nearby. Its central setting places residents close to the city’s established downtown amenities and services.
The property sits minutes from Prescott’s Courthouse Plaza, with downtown restaurants, boutiques, entertainment, and employment centers nearby. Its central setting places residents close to the city’s established downtown amenities and services.
Key Highlights
- 8‑unit apartment property
- 5,208 square feet of building area
- Built in 1980
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
$55,512
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
5.05%
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%
$1,110,240
$1.1M
Cap Rate 7%
$793,029
$793.0K
Cap Rate 9%
$616,800
$616.8K
Market Conditions
NOI Build-Up for 5,208 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
$106.2K $20.40/SF
− Vacancy
−$5.3K −$1.02/SF
EGI
$100.9K $19.38/SF
− OpEx
−$45.4K −$8.72/SF
NOI
$55.5K $10.66/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,110,240
Cap Rate 7%
$793,029
Cap Rate 9%
$616,800
Alternative Uses
Best Use
Apartment 5plus
$793.0K
$693.9K – $925.2K
NOI $55,512 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.74M
$1.53M – $2.04M
NOI $122,127 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 86303, AZ
18,201
Population
12,255
Households
1.5
Avg Household Size
61
Median Age
41%
College-Educated
96%
High-School Grad
107.2 sq mi
ZIP Area
170
Density / Sq Mi
$68,656
Median Household Income
$44,428
Median Earnings
$1,309
Median Rent
$502,400
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?
Apartment building - Multifamily property with MF-M zoning near downtown Prescott’s restaurants, shops, and entertainment.
Where is this apartment building located?
The property is located at 314 S Virginia Street Prescott, AZ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 8‑unit apartment property; 5,208 square feet of building area; Built in 1980
