5-Unit Office
New
For Sale
$1,750,000
711 Whipple Street, Prescott, AZ 86301
Roof and HVAC replacements were completed in 2025 and 2024, respectively.
Property Size5,088 SF
Days on Market5
Property Features for 711 Whipple Street
General Information
Standard status
Active
Size
5,088 SF
Property subtype
Office
Net Operating Income
$127,200
Financials
Asking Price
$1,750,000
Cap Rate
7.26%
Additional Details
Office Units
5
Taxes and HOA fees
Annual Taxes
$6,866
Building Details
Building Size
5,088 SF
Year Built
1986
Tenancy
Multi
Listing Agency:
Arizona Commercial
Listed By:
Abigail Chartier · License #SA710066000
(928) 642-3032
Source:
Adobegr
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 5:45PM
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 Arizona Commercial
Investment Insights
Based on property information with market context.
This five-unit office property in Prescott was built in 1986. A new roof was installed in 2025, followed by HVAC replacement in 2024. Four of the five existing leases end at year-end, while the remaining lease expiration is not specified.
The property sits on Whipple Street near Dignity Health, other businesses, medical offices, and residential neighborhoods. Pro forma figures indicate a 7.26% capitalization rate and projected NOI of $127,200; the stated NNN rate is excluded from this summary.
The property sits on Whipple Street near Dignity Health, other businesses, medical offices, and residential neighborhoods. Pro forma figures indicate a 7.26% capitalization rate and projected NOI of $127,200; the stated NNN rate is excluded from this summary.
Key Highlights
- Five individual office units
- Roof replaced in 2025
- HVAC replaced in 2024
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
$74,001
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
4.23%
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%
$1,480,020
$1.5M
Cap Rate 7%
$1,057,157
$1.1M
Cap Rate 9%
$822,233
$822.2K
Market Conditions
NOI Build-Up for 5,088 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
$118.4K $23.28/SF
− Vacancy
−$19.8K −$3.89/SF
EGI
$98.7K $19.39/SF
− OpEx
−$24.7K −$4.85/SF
NOI
$74.0K $14.54/SF
Area
Yavapai County, AZ
Vacancy
16.70%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
25.00%
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%
$1,480,020
Cap Rate 7%
$1,057,157
Cap Rate 9%
$822,233
Alternative Uses
Best Use
Office B
$1.06M
$925.0K – $1.23M
NOI $74,001 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.70M
$1.49M – $1.99M
NOI $119,313 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,703
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 Office 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?
Office building - Roof and HVAC replacements were completed in 2025 and 2024, respectively.
Where is this office building located?
The property is located at 711 Whipple Street Prescott, AZ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Five individual office units; Roof replaced in 2025; HVAC replaced in 2024
