Commercial Real Estate Market in Prescott, AZ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,140 active listings and 2,074 off-market properties in Prescott, AZ. Commercial property asks $280/SF to buy and $19.20/SF/Yr to lease.
Market Trends
Prescott, AZ spans 729.3 square miles in Yavapai County, Arizona. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Prescott, AZ asks $19.89/SF/Yr to lease. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in West region
Retail
Retail space in Prescott, AZ asks $20.00/SF/Yr to lease. Vacancy runs 5.8% across the West region in 2025, down from 7% in 2020.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in West region
Industrial
Industrial vacancy in Prescott, AZ runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Prescott, AZ runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 60.1%
- Industrial 20.7%
- Commercial 11.5%
- Open space 7.6%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Single Family 9
Specially Planned Community
Rural Estate 2 Acre
Single Family 18
Natural Open Space
Prescott, AZ zones 31,684 acres across 36 districts. Commercial zoning covers 11.5% of zoned land, residential 60.1%, open space 7.6% and industrial 20.7%. The largest single district is Single Family 9 at 13%. For commercial buyers the practical constraint is that only 32.2% of land carries a commercial or industrial designation.
Single Family 9 (SF-9)
The Single-family 9 (SF-9) District is a medium-density, single-family residential district with a suburban or semi-urban character, depending on the district’s specific location. The SF-9 district provides specific standards for the development of single-family dwelling units and appropriate accessory uses
Market overview
Demographics & Economy
Prescott, AZ has 62,963 residents in 37,038 households. Density runs 86 people per square mile. Median household income here is $73,132 and median gross rent $1,362 a month.
62,963
Population
37,038
Households
1.7
Avg Household Size
60
Median Age
41%
College-Educated
96%
High-School Grad
729.3 sq mi
ZIP Area
86
Density / Sq Mi
$73,132
Median Household Income
$38,144
Median Earnings
$1,362
Median Rent
$538,270
Median Home Value
Tools
Lease vs Buy Breakeven
At $19.20/SF/Yr lease vs $280/SF buy → buying wins if held > 3.4 years.
At a 6.9% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the average price per square foot for commercial property in Prescott?
Commercial property in Prescott, AZ asks an average of $280 per square foot. The 4 most recent recorded sales traded at a median of $428/SF.
How much does it cost to lease commercial space in Prescott?
Asking lease rates in Prescott, AZ average $19.20 per square foot per year. Office asks $19.89/SF/Yr as of Q2 26, down from $25.17/SF/Yr in Q1 26.
Is it cheaper to lease or buy commercial space in Prescott?
Buying beats leasing in Prescott, AZ if the property is held longer than 3.4 years, comparing $19.20/SF/Yr asking rent with $280/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Prescott?
Prescott, AZ zones 31,684 acres across 36 districts, of which 11.5% is commercial and 20.7% industrial. The largest single district is Single Family 9 at 13% of zoned land. The Single-family 9 (SF-9) District is a medium-density, single-family residential district with a suburban or semi-urban character, depending on the district’s specific location. The SF-9 district provides specific standards for the development of single-family dwelling units and appropriate accessory uses Residential zoning covers 60.1% and open space 7.6%.
Where does Realmo's Prescott market data come from?
Realmo compiles Prescott, AZ figures from 5 recent recorded sales, 940 active sale listings, 200 active lease listings, 2,074 tracked off-market properties, the current Prescott zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 940 active for-sale and 200 active for-lease listings in Prescott, AZ. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 31,684 zoned acres across 36 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
