Freestanding Restaurant with
For Sale
Contact for pricing
Pending
669 E Sheldon Street, Prescott, AZ 86301
Remodeled dining and production space includes furniture, fixtures, equipment, and covered outdoor seating.
Property Size2,154 SF
Days on Market431
Property Features for 669 E Sheldon Street
General Information
Standard status
Pending
Size
2,154 SF
Property subtype
Business for Sale, Retail
Zoning
BR
Site & Location
Traffic Count
20,000 vehicles/day
Road Access
Yes
Restaurant
Seating Capacity
90
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Building Details
Year Built
1976
Year Renovated
2019
Buildings
1
Stories
1
Listing Agency:
Mile High Real Estate
(928) 642-7984
Listed By:
Sharon Mortensen · License #LC720681000
Source:
Crexi
Added: Jun 26, 2025
Changed: Aug 29
Last Checked: Apr 24 at 4:45PM
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 Mile High Real Estate
Investment Insights
Based on property information with market context.
The sale includes a freestanding restaurant building and its furniture, fixtures, and equipment. The 2154 sq ft property was completely remodeled in 2019 and features a dining room, commercial kitchen, high-volume service counter, two storage areas, catering and preparation space, and two ADA restrooms. Seating accommodates 64 guests indoors and 26 on the covered patio, for a total of 90. The patio was completed in 2021, and the property also provides ample parking.
Positioned on the corner of Sheldon Street, the restaurant records a traffic count of 20,000 vehicles per day. A series 12 liquor license supports full bar service. The current operation specializes in barbecue, and the sale is available with seller-provided training, or the seller can vacate the premises for another restaurant concept.
Positioned on the corner of Sheldon Street, the restaurant records a traffic count of 20,000 vehicles per day. A series 12 liquor license supports full bar service. The current operation specializes in barbecue, and the sale is available with seller-provided training, or the seller can vacate the premises for another restaurant concept.
Key Highlights
- 2154 sq ft freestanding restaurant building with real estate, furniture, fixtures, and equipment included
- Complete building remodel completed in 2019
- Covered patio completed in 2021; seating for 64 inside and 26 outside, totaling 90
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
$41,597
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
3.96%
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%
$831,940
$831.9K
Cap Rate 7%
$594,243
$594.2K
Cap Rate 9%
$462,189
$462.2K
Market Conditions
NOI Build-Up for 2,154 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
$62.6K $29.04/SF
− Vacancy
−$3.1K −$1.45/SF
EGI
$59.4K $27.59/SF
− OpEx
−$17.8K −$8.28/SF
NOI
$41.6K $19.31/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$29.04 /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%
$831,940
Cap Rate 7%
$594,243
Cap Rate 9%
$462,189
Alternative Uses
Best Use
Industrial
$594.2K
$520.0K – $693.3K
NOI $41,597 @ 7.0% cap · market cap 3.96%
Second Best
Specialty Retail
$409.1K
$358.0K – $477.3K
NOI $28,639 @ 7.0% cap · market cap 2.73%
Theoretical Best
Warehouse
$721.6K
$631.4K – $841.9K
NOI $50,511 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,401
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
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?
Conventional restaurant - Remodeled dining and production space includes furniture, fixtures, equipment, and covered outdoor seating.
Where is this conventional restaurant located?
The property is located at 669 E Sheldon Street Prescott, AZ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 2154 sq ft freestanding restaurant building with real estate, furniture, fixtures, and equipment included; Complete building remodel completed in 2019; Covered patio completed in 2021; seating for 64 inside and 26 outside, totaling 90
