Renovated Bank
For Sale
$1,500,000
702 & 704 S Main St, Cottonwood, AZ 86326
Two commercial structures offer secure improvements, flexible interior space, and a former drive-through configuration.
Property Size4,399 SF
Price / SF$340.99
Days on Market911
Property Features for 702 & 704 S Main St
General Information
Standard status
Active
Size
4,399 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$9,586
Amenities
Central Air, Heat Pump
3
Building Details
Year Built
1999
Listing Agency:
Realty One Group Mountain Dese
(928) 862-4035
Listed By:
Evan Richards · License #SA543153000
Source:
Xome
Added: Mar 3, 2024
Changed: Aug 30
Last Checked: Aug 30 at 1:45PM
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 Realty One Group Mountain Dese
Investment Insights
Based on property information with market context.
This two-building commercial property includes a 4,399-square-foot main structure and a separate bonus building. The primary building was substantially renovated and includes two offices with custom glass walls, solid security doors, bullet-resistant windows, a rebar-reinforced concrete vault with two rooms, an antique operational vault door, and built-in cabinetry. The property previously operated as a bank and later as a drive-through restaurant.
The second building has a large central room, two additional rooms, and substantial storage space. Improvements include a new HVAC system, fresh interior paint, and a roof coating. Located at 702 & 704 S Main St in Cottonwood, the property places two commercial buildings on the area's main corridor.
The second building has a large central room, two additional rooms, and substantial storage space. Improvements include a new HVAC system, fresh interior paint, and a roof coating. Located at 702 & 704 S Main St in Cottonwood, the property places two commercial buildings on the area's main corridor.
Key Highlights
- 4,399‑square‑foot main building plus a second commercial structure
- Main building includes a two‑room rebar‑reinforced poured concrete vault
- Bullet‑resistant windows and solid security doors throughout the primary building
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
$76,256
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
5.08%
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%
$1,525,120
$1.5M
Cap Rate 7%
$1,089,371
$1.1M
Cap Rate 9%
$847,289
$847.3K
Market Conditions
NOI Build-Up for 4,399 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
$114.5K $26.04/SF
− Vacancy
−$5.6K −$1.28/SF
EGI
$108.9K $24.76/SF
− OpEx
−$32.7K −$7.43/SF
NOI
$76.3K $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%
$1,525,120
Cap Rate 7%
$1,089,371
Cap Rate 9%
$847,289
Alternative Uses
Best Use
Retail
$1.09M
$953.2K – $1.27M
NOI $76,256 @ 7.0% cap · market cap 5.08%
Second Best
Office B
$914.0K
$799.8K – $1.07M
NOI $63,980 @ 7.0% cap · market cap 4.27%
Theoretical Best
Warehouse
$1.47M
$1.29M – $1.72M
NOI $103,156 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 86326, AZ
24,465
Population
12,243
Households
2
Avg Household Size
49
Median Age
25%
College-Educated
91%
High-School Grad
45.5 sq mi
ZIP Area
538
Density / Sq Mi
$58,250
Median Household Income
$36,479
Median Earnings
$1,102
Median Rent
$312,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Two commercial structures offer secure improvements, flexible interior space, and a former drive-through configuration.
Where is this bank located?
The property is located at 702 & 704 S Main St Cottonwood, AZ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,399‑square‑foot main building plus a second commercial structure; Main building includes a two‑room rebar‑reinforced poured concrete vault; Bullet‑resistant windows and solid security doors throughout the primary building
