Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1297 Gurley St Prescott, AZ 86303

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Prescott location, redevelopment opportunity.

    Property size:
    5,392 SF

    Property Features for 1297 Gurley St

    General Information

    Property type
    Grocery and convenience stores
    Square Feet
    5,392 SF
    Lot Size
    60,113 SF

    Building Details

    Year Built
    1979
    Buildings
    2
    Stories
    1
    Units
    2

    We can help!

    Listing Contact
    Sandra F Shaffer
    Sandra F Shaffer

    Listing Agent: Sandra F Shaffer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    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 Profile Insight Report Location Intelligence

    Current Use by Public Records

    Koko Grill Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store 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

    Nearby Similar for Sale

    • $849,900
      2,858 SF

      Medical Office Building For Sale

      2,858 sqft medical office near hospital and high school.
      1011 Ruth St, Prescott, AZ 86301
      View Details
    • New
      $1,175,000
      4,900 SF

      Versatile Industrial Space in Prescott

      4,900 SF industrial building with offices and expansion potential.
      6655 Inter Cal Way, Prescott, AZ 86301
      View Details
    • $650,000
      Pending

      High-Traffic Prescott Commercial Building

      Versatile commercial building on a high-traffic corridor in Prescott.
      625 Miller Valley Rd, Prescott, AZ 86301
      View Details
    • $475,000
      1,361 SF

      Professional Office Building Near Hospital

      Well-maintained office building suitable for healthcare providers or investment.
      143 E Merritt St, Prescott, AZ 86301
      View Details
    • New
      $4,500,000
      0.86 Acres

      Downtown Prescott Investment Opportunity

      Prime investment property near Courthouse Square with diverse tenant mix.
      141 S Mccormick St, Prescott, AZ 86303
      View Details
    • New
      $574,982
      2,740 SF

      View Property in Yavapai Hills

      Multi-family property with income potential in Prescott, Arizona.
      694 Sunrise Blvd, Prescott, AZ 86301
      View Details
    • $780,000
      0.19 Acres

      Commercial Office Building Investment Opportunity

      High-visibility office building with long-term tenant and income potential.
      223 White Spar Rd, Prescott, AZ 86303
      View Details
    • $599,478
      0.20 Acres

      Downtown Prescott Commercial Opportunity

      Versatile commercial space in downtown Prescott, suitable for various businesses.
      112 N Summit Ave, Prescott, AZ 86301
      View Details
    • $849,000
      0.18 Acres

      Income-Producing Multifamily Property

      Multifamily property with in-place rents and value-add potential.
      658 W Gurley St, Prescott, AZ 86305
      View Details
    • New
      $3,200,000
      1.77 Acres

      Modern Prescott Office/Industrial Facility

      Modern office/industrial building with exceptional access and functionality in Prescott, Arizona.
      2220 Taxi Way, Prescott, AZ 86301
      View Details
    • $799,000
      0.28 Acres

      Medical/Professional Office Space Available

      Freestanding building near hospital, suitable for medical or professional use.
      1202 Willow Creek Rd, Prescott, AZ 86301
      View Details
    • $3,000,000
      1.17 Acres

      Medical Office Building For Sale

      Medical office building for sale or lease near Highway 69.
      3605 Ranch Dr, Prescott, AZ 86303
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Prime Prescott location, redevelopment opportunity.
    Where is this grocery and convenience store 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.
    (928) 899-3111 Call to check price and availability
    Request Owner's contact information
    1297 Gurley St Prescott, AZ 86303
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1297 Gurley St
    Prescott, AZ 86303
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sandra F Shaffer
    Sandra F Shaffer
    Real Estate License ID: BR102761000
    (928) 899-3111
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!