1297 Gurley St, Prescott, AZ 86301-3311

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%.