4 Contiguous Office Condominium
For Sale
Contact for pricing
919 12th Place, Prescott, AZ 86305
Vacant office condominium offering with flexible occupancy across connected units in Prescott.
Property Size8,637 SF
Price / SF$220
Days on Market18
Property Features for 919 12th Place
General Information
Standard status
Active
Size
8,637 SF
Net Rentable
8,637 SF
Property subtype
Office
Additional Details
Office Units
4
Building Details
Year Built
1984
Listing Agency:
SURMOUNT
Listed By:
Tom Jonsson · License #AZ BR695596000
Source:
Crexi
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 28 at 7:12PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This office condominium offering includes four connected units at 919 12th Place in Prescott, Arizona. The combined property contains approximately 8,637 rentable square feet, with Units 1 and 2 totaling approximately 5,759 square feet and Units 3 and 4 totaling approximately 2,878 square feet. The units are offered vacant, allowing an occupant to use the full configuration or select a portion of the available space.
Constructed in 1984, the property presents a multi-unit office layout within a single contiguous offering. Its location is identified as 919 12th Place, Prescott, AZ 86305.
Constructed in 1984, the property presents a multi-unit office layout within a single contiguous offering. Its location is identified as 919 12th Place, Prescott, AZ 86305.
Key Highlights
- Four contiguous office condominium units
- Approximately 8,637 rentable square feet in total
- Units 1 and 2 contain approximately 5,759 square feet
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
$125,618
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
6.61%
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%
$2,512,360
$2.5M
Cap Rate 7%
$1,794,543
$1.8M
Cap Rate 9%
$1,395,756
$1.4M
Market Conditions
NOI Build-Up for 8,637 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
$201.1K $23.28/SF
− Vacancy
−$33.6K −$3.89/SF
EGI
$167.5K $19.39/SF
− OpEx
−$41.9K −$4.85/SF
NOI
$125.6K $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%
$2,512,360
Cap Rate 7%
$1,794,543
Cap Rate 9%
$1,395,756
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,618 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.89M
$2.53M – $3.38M
NOI $202,536 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
1,460
Businesses Nearby
Explore this area
Business Placement
Demographics for 86305, AZ
19,555
Population
10,920
Households
1.8
Avg Household Size
62
Median Age
47%
College-Educated
97%
High-School Grad
588.5 sq mi
ZIP Area
33
Density / Sq Mi
$78,802
Median Household Income
$37,630
Median Earnings
$1,132
Median Rent
$627,100
Median Home Value
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 units - Vacant office condominium offering with flexible occupancy across connected units in Prescott.
Where is this office units located?
The property is located at 919 12th Place Prescott, AZ.
What is the asking price?
The asking price for this property is $1,900,140.
What are key features of this property?
This property features: Four contiguous office condominium units; Approximately 8,637 rentable square feet in total; Units 1 and 2 contain approximately 5,759 square feet
