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    1297 Gurley St Prescott, AZ 86303

    For Sale
    $1,979,000

    Prime Prescott location, redevelopment opportunity.

    Property size:
    5,392 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 1.38-acre Prescott, Arizona commercial property, located at the high-traffic intersection of State Route 89 and State Route 69, presents a compelling redevelopment opportunity. The property includes two existing buildings totaling 5,392 square feet, situated on a corner lot at 1297 E Gurley St, Prescott, AZ 86303. One building is currently leased to Koko Grill under a Net Net lease, expiring August 28, 2025, with two five-year renewal options and a 3% annual rent increase. The lease generates a current NOI of $39,338, representing a 1.99% cap rate on the $1,979,000 asking price. The second building, previously occupied by Enterprise Rental Car (1,385 square feet), is currently vacant. Both buildings are single-story structures built in 1979. The property is zoned BG (Business General), allowing for a wide range of commercial and/or residential uses. This prime location at the entrance to Prescott offers significant potential for investors seeking to capitalize on high daily traffic volume and the flexibility afforded by the large lot size and existing infrastructure. The property's APN is 114-06=001. The current occupancy rate is 50%.

    Property Features for 1297 Gurley St

    General Information

    Property type
    Individual retail properties
    Square Feet
    5,392 SF
    Lot Size
    60,113 SF

    Building Details

    Year Built
    1979
    Buildings
    2
    Stories
    1
    Units
    2

    HighLights

    • Prescott city limits access.
    • High‑traffic intersection of SR 89/69.
    • Excellent visibility due to high daily traffic counts.
    • Hard corner lot.
    • 1.38‑acre development site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Koko Grill Japanese Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.45266623692
    Latitude
    34.545233782831

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    FAQs

    What type of property is this?
    Individual retail property - Prime Prescott location, redevelopment opportunity.
    Where is this individual retail property located?
    The property is located at 1297 Gurley St Prescott, AZ.
    What is the asking price?
    The asking price for this property is $1,979,000.
    What are key features of this property?
    This property features: Prescott city limits access.; High-traffic intersection of SR 89/69.; Excellent visibility due to high daily traffic counts.
    Request Owner's contact information
    1297 Gurley St Prescott, AZ 86303
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1297 Gurley St Prescott, AZ 86303
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