Commercial Corner
For Sale
$749,947
620 E GURLEY Street, Prescott, AZ 86301
BG-zoned corner parcel with an existing redevelopment shell and plans available for a new office building.
Property Size3,411 SF
Price / SF$219.86
Days on Market10
Property Features for 620 E GURLEY Street
General Information
Standard status
Active
Size
3,411 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$3,981
Building Details
Year Built
1965
Listing Agency:
Rent Right Management Solutions
(928) 848-1188
Listed By:
Cody Anne Yarnes · License #SA576662000
(928) 848-1188
Source:
Exitrealty
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 8:52PM
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 Rent Right Management Solutions
Investment Insights
Based on property information with market context.
This 0.27-acre commercial corner parcel includes a 3,410 SF former restaurant shell that requires reconstruction. Plans are available for an office building of just under 5,000 SF, and the property may also be considered for a land lease tied to an appropriate project.
The site is located at 620 E Gurley Street in Prescott, just blocks from Courthouse Plaza and along the Gurley Street corridor. Westbound traffic has reported right-turn access, with more than 26,000 vehicles per day on the corridor. BG zoning supports commercial, office, medical, restaurant, service, and residential uses. The parcel is no longer within the FEMA floodway.
The site is located at 620 E Gurley Street in Prescott, just blocks from Courthouse Plaza and along the Gurley Street corridor. Westbound traffic has reported right-turn access, with more than 26,000 vehicles per day on the corridor. BG zoning supports commercial, office, medical, restaurant, service, and residential uses. The parcel is no longer within the FEMA floodway.
Key Highlights
- 0.27‑acre commercial corner parcel at 620 E GURLEY Street, Prescott, AZ 86301
- 3,410 SF former restaurant shell requiring reconstruction
- BG zoning supports commercial, office, medical, restaurant, service, and residential uses
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
$59,129
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
7.88%
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%
$1,182,580
$1.2M
Cap Rate 7%
$844,700
$844.7K
Cap Rate 9%
$656,989
$657.0K
Market Conditions
NOI Build-Up for 3,411 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
$88.8K $26.04/SF
− Vacancy
−$4.4K −$1.28/SF
EGI
$84.5K $24.76/SF
− OpEx
−$25.3K −$7.43/SF
NOI
$59.1K $17.33/SF
Area
Yavapai County, AZ
Vacancy
4.90%
Lease Rate
$26.04 /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%
$1,182,580
Cap Rate 7%
$844,700
Cap Rate 9%
$656,989
Alternative Uses
Best Use
Retail
$844.7K
$739.1K – $985.5K
NOI $59,129 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.14M
$999.8K – $1.33M
NOI $79,987 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,358
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
The UPS Store
Shops & Services
3,349 visits/mo
0.4 miles
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 Retail 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?
Commercial land - BG-zoned corner parcel with an existing redevelopment shell and plans available for a new office building.
Where is this commercial land located?
The property is located at 620 E GURLEY Street Prescott, AZ.
What is the asking price?
The asking price for this property is $749,947.
What are key features of this property?
This property features: 0.27‑acre commercial corner parcel at 620 E GURLEY Street, Prescott, AZ 86301; 3,410 SF former restaurant shell requiring reconstruction; BG zoning supports commercial, office, medical, restaurant, service, and residential uses
