Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    6393 Lear Ln Prescott, AZ 86301

    • Land
    • 166,160 SF
    • 3.81 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hudson Group / Civil Law Attorney

    Property Details for 6393 Lear Ln

    Lot size
    3.81 lot acres
    Property size
    166,160 SF
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This 3.81-acre lot (166,160 square feet), located at 6393 Lear Ln Lot 58 in Prescott, Arizona (zip code 86301), presents a significant opportunity within the Prescott Regional Airpark and Commerce Center. Priced at $420,053 ($2.53 per square foot), this vacant parcel offers convenient access from Lear Avenue and is zoned IL for light industrial and commercial development. Grading may be necessary. The property is situated in a master-planned development, directly southeast of Prescott Regional Airport (Ernest A. Love Field), and benefits from readily available utilities including APS electric, Unisource natural gas, City of Prescott water, sewer, and refuse services, as well as CenturyLink telephone and CableOne internet. This lot can be combined with adjacent lots (2, 3, and 57) to create a larger 23.75-acre assemblage. The property's APN is 102-03-075. Further details are available in supplemental documentation. This location offers proximity to established businesses such as Sturm Ruger, Pure Wafer, and others, making it an attractive location for industrial or commercial development in Prescott, Arizona.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.413
    Latitude
    34.6487

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      2204 Cirrus

      Land • 43,585 SF
      2204 Cirrus, Prescott, AZ 86301
      View Details
    • Value Estimation by Request
      1.00 Acre

      2224 Cirrus

      Land • 43,764 SF
      2224 Cirrus, Prescott, AZ 86301
      View Details
    • Value Estimation by Request
      4.33 Acres

      2237 Cirrus

      Land • 188,732 SF
      2237 Cirrus, Prescott, AZ 86301
      View Details
    • Value Estimation by Request
      1.66 Acres

      2227 Cirrus

      Land • 72,119 SF
      2227 Cirrus, Prescott, AZ 86301
      View Details
    • Value Estimation by Request
      1.00 Acre

      2228 Cirrus Dr

      Land • 43,765 SF
      2228 Cirrus Dr, Prescott, AZ 86301
      View Details
    • Value Estimation by Request
      1.00 Acre

      2208 Cirrus Dr Lot

      Land • 43,598 SF
      2208 Cirrus Dr Lot, Prescott, AZ 86301
      View Details

    Similar Nearby for Sale

    • $473,000
      3.88 Acres

      Prescott Airpark Lot 53

      3.88-acre lot, ideal location
      6405 Lear Ln, Prescott, AZ 86301
      View Details
    • $524,827
      4.33 Acres

      Prescott Airpark Lot 40

      4.33-acre industrial lot, prime location
      2237 Cirrus Dr, Prescott, AZ 86301
      View Details
    • $1,072,500
      6.07 Acres

      Prescott Industrial Land - $1M+

      6.07-acre industrial lot, prime Prescott location.
      2100 Gulfstream, Prescott, AZ 86301
      View Details
    • $3,000,000
      24.31 Acres

      Prescott Commercial Land - 24 Acres

      Prime Prescott location, 24 acres, business zoning.
      2340 Granite Dells Rd, Prescott, AZ 86301
      View Details
    • $175,000
      0.88 Acres

      Airpark Land: Prescott, AZ

      0.88-acre commercial lot, ready to build.
      6615 Inter Cal Way, Prescott, AZ 86301
      View Details
    • $37,500
      Pending

      Vacant Land in Prescott, AZ

      Vacant land offering boundless opportunities in Prescott, Arizona.
      4520 E Warren Dr, Prescott, AZ 86301
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      Pending

      Versatile Industrial Space in Prescott

      14,400 SF industrial building for lease or sale.
      2232 Cirrus Dr, Prescott, AZ 86301
      View Details
    • $12 SF/Yr
      261,360 SF

      Industrial Space in Prescott Available

      81,600 SF industrial space for lease in Prescott, Arizona.
      2222 Cirrus Unit 103 Dr, Prescott, AZ 86301
      View Details
    • $12 SF/Yr
      261,360 SF

      Industrial Space in Prescott Available

      81,600 SF industrial space for lease in Prescott, Arizona.
      2222 Cirrus Unit 102 Dr, Prescott, AZ 86301
      View Details
    • $11 SF/Yr
      43,996 SF

      Versatile Prescott Commercial Space Available

      Suites with warehouse and office space in central Prescott.
      430 N Mount Vernon Ave, Prescott, AZ 86301
      View Details
    • $12 SF/Yr
      43,560 SF

      Flex Space with Fenced Yard

      Flex space featuring warehouse, office areas, and secure fenced yard.
      6724 Corsair Ave, Prescott, AZ 86301
      View Details
    • $12 SF/Yr
      49,658 SF

      Industrial Space with Yard in Prescott

      Light industrial space with flexible options and yard space available.
      6720 Corsair Ave, Prescott, AZ 86301
      View Details
    Request Owner's contact information
    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.
    6393 Lear Ln
    Prescott, AZ 86301
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.