Mixed-Use Property with Studio
515 E Sheldon Street, Prescott, AZ 86301
For Sale
New
$749,900
A Victorian residence, salon space and leased apartment are arranged across the property’s separate buildings.
Property Size2,345 SF
Days on Market4
Property Features for 515 E Sheldon Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Tenancy & Operations
Currently Operating
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
AC
gas heat
laundry room
mini-split system
Building Details
Building Size
Year Built
Buildings
Construction
Tenancy
Listing Agency:
Realty ONE Group Mountain Desert
Listed By:
Christopher Bratt · License #SA036107000
(623) 552-9053
Source:
Adobegr
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 2:30PM
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 Realty ONE Group Mountain Desert
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1919, the Victorian main house contains three bedrooms, two bathrooms, a living room, kitchen and laundry room. An attached addition provides an office with cabinetry, a large flexible-use area, a half bath and another room for office or storage use. Vinyl plank flooring runs through the addition; the residence also has air conditioning and gas heat.
A detached, enclosed garage has a studio apartment above it, currently leased, with a kitchen area and three-quarter bath. The garage interior is heated and cooled by a mini-split and includes a laundry room. A temporary partition covers the roll-up door, which could be restored. The property has 11 parking spaces and BR and MF-M zoning. The owner is open to leasing back the salon area or leasing the garage space for salon use.
A detached, enclosed garage has a studio apartment above it, currently leased, with a kitchen area and three-quarter bath. The garage interior is heated and cooled by a mini-split and includes a laundry room. A temporary partition covers the roll-up door, which could be restored. The property has 11 parking spaces and BR and MF-M zoning. The owner is open to leasing back the salon area or leasing the garage space for salon use.
Key Highlights
- BR and MF‑M zoning
- 1919 Victorian home with 3 bedrooms and 2 bathrooms
- Addition includes office, flexible‑use area, half bath and a separate office/storage room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,658
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,160
$633.2K
Cap Rate 7%
$452,257
$452.3K
Cap Rate 9%
$351,756
$351.8K
Market Conditions
NOI Build-Up for 2,345 SF
Gross rent
$56.3K $24.00/SF
− Vacancy
−$5.6K −$2.40/SF
EGI
$50.7K $21.60/SF
− OpEx
−$19.0K −$8.10/SF
NOI
$31.7K $13.50/SF
Area
Yavapai County, AZ
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,160
Cap Rate 7%
$452,257
Cap Rate 9%
$351,756
Alternative Uses
Best Use
Mixed Use
$452.3K
$395.7K – $527.6K
NOI $31,658 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$357.1K
$312.4K – $416.6K
NOI $24,995 @ 7.0% cap · market cap 3.33%
Theoretical Best
Warehouse
$785.6K
$687.4K – $916.5K
NOI $54,990 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,779
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A Victorian residence, salon space and leased apartment are arranged across the property’s separate buildings.
Where is this mixed-use property located?
The property is located at 515 E Sheldon Street Prescott, AZ.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: BR and MF‑M zoning; 1919 Victorian home with 3 bedrooms and 2 bathrooms; Addition includes office, flexible‑use area, half bath and a separate office/storage room
