301 Whipple St Prescott, AZ 86301-1748

Property Details for 301 Whipple St

Year built

2007

Construction

STEEL FRAME

Lot size

0.78 lot acres

Property size

4,776 SF

Property type

Industrial properties

APN

113-02-072B

APU

11302072B

Description

This exceptional investment opportunity presents a portfolio of two well-maintained, multi-tenant commercial buildings totaling 10,462 square feet in Prescott, Arizona. The portfolio comprises two buildings, constructed in 2003 and 2007, situated on a combined 1.15 acres. The properties boast a diverse tenant mix including a fitness center, insurance agency, construction company, interior design studio, and photography studio, ensuring a stable income stream with 100% occupancy. The buildings are strategically located in high-traffic areas with excellent visibility, offering strong potential for future income growth. The current Net Operating Income (NOI) is $127,879, resulting in a 5.95% cap rate. The asking price is $2,150,000, translating to $205.51 per square foot. The properties are zoned IT and RO, and feature a mix of creative, executive, and traditional office spaces. One building, located at 301 Whipple Street, encompasses 5,626 square feet and houses three long-term tenants. The second building, situated at 1702 Willow Creek Road, offers 4,836 square feet and accommodates two tenants. Both properties benefit from newer construction, low rental rates, and some short-term leases, providing opportunities to increase income. This portfolio represents a compelling investment in Prescott's thriving commercial real estate market, offering significant potential for equity growth. The properties are classified as Class B and represent a stabilized investment portfolio. The portfolio consists of five individual units across the two buildings.