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    957 Black Dr Prescott, AZ 86305-1407

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    957 Black Dr Prescott, AZ 86305-1407

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    • Medical Office Space
    • 4,716 SF
    • 0.46 lot acres
    Off-Market
    Last Sale Dec 1, 2022
    $1,025,000
    Property ID
    US07-2966280
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $910,000
    Show details
    Cap Rate Potential
    9.9%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • Paul Johnson Drywall / Hardware & Home Improvement / Interior Design
    • Copper Tree Construction / General Contractor
    • Reflections Recovery Center / Crisis Center / Medical Clinic
    • Active Life Physical Therapy / Medical Clinic
    • Weary Chiropractic Clinic / Medical Clinic

    Property Details for 957 Black Dr

    Year built
    2006
    Construction
    STEEL FRAME
    Lot size
    0.46 lot acres
    Property size
    4,716 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    115-05-043D
    APU
    11505043D

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $775,000
      ML approach
      $805,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,280,000
      6.5%
      $1,180,000
      7%
      $1,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $914,000
      Market price range: $667k - $1.29M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,060,000
      Current use
      RETAIL STORES
      $1,165,000
      Change: +10% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Yavapai
    State
    Arizona
    Longitude
    -112.484
    Latitude
    34.5661
    CBSA code
    39150
    CBSA name
    PRESCOTT VALLEY-PRESCOTT, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $9,366
    $21,497
    $152,672
    $174,169
    -
    $143,316
    $1,017,812
    $1,161,128

    Comparable in this City

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      0.40 Acres

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      3,134 SF

      907 Ainsworth Dr

      MEDICAL CLINIC • 3,134 SF
      907 Ainsworth Dr, Prescott, AZ 86305-1607
      View Details
    • Value Estimation
      $765,000
      5,124 SF

      955 Black Dr

      MEDICAL BUILDING • 5,124 SF
      955 Black Dr, Prescott, AZ 86305-1403
      View Details
    • Value Estimation by Request
      3,200 SF

      920 Black Dr

      MEDICAL BUILDING • 3,200 SF
      920 Black Dr, Prescott, AZ 86305-1404
      View Details
    • Value Estimation
      $1,525,000
      9,784 SF

      3190 Clearwater Dr

      MEDICAL CLINIC • 9,784 SF
      3190 Clearwater Dr, Prescott, AZ 86305-7131
      View Details
    • Value Estimation
      $565,000
      3,535 SF

      3185 Clearwater Dr

      MEDICAL BUILDING • 3,535 SF
      3185 Clearwater Dr, Prescott, AZ 86305-7119
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Medical Office Building For Sale

      Medical office building near hospital with exam rooms and parking.
      1100 Gail Gardner Way, Prescott, AZ 86305
      View Details
    • New
      $2,400,000
      8,274 SF

      Medical/Professional Office in Prescott

      Class A medical/professional office property in a desirable location.
      3130-3140 Stillwater Dr, Prescott, AZ 86305
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    • Contact for pricing
      2,000 SF

      Medical Office Investment Opportunity

      Single tenant medical office condo with new 3-year lease.
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      View Details
    • New
      $645,000
      0.17 Acres

      Mixed-Use Property with Rental Income

      Immaculate mixed-use property with residential and commercial potential.
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    • $169,000
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      Prescott Land Parcel with Views

      Private 1.61-acre parcel in Talking Rock Ranch.
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    • $425,000
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      2.35-acre lot in Talking Rock golf community with amenities.
      5141 W Ethan Trl, Prescott, AZ 86305
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    Similar Nearby for Lease

    • $20 SF/Yr
      46,174 SF

      Prescott Medical/Professional Office Space

      Premium office suites for lease in Prescott's 'The Crossings'.
      3625 Crossings Dr, Prescott, AZ 86305
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    • $16 SF/Yr
      21,780 SF

      Medical Office Suite in Prescott

      Professional medical office suite for rent in Prescott, Arizona.
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      View Details
    • $24 SF/Yr
      41,382 SF

      Medical Office Space Available

      Prime medical office space for sale or lease in Prescott.
      1100 Gail Gardner Way, Prescott, AZ 86305
      View Details
    • $21 SF/Yr
      46,174 SF

      Prescott Medical/Professional Office Space

      Premium office space for lease in Prescott's 'The Crossings'.
      3625 Crossings Dr, Prescott, AZ 86305
      View Details
    • $20 SF/Yr
      Pending

      Commercial Space in Prescott, Arizona

      New commercial spaces available for lease in Prescott, Arizona.
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      View Details
    • $6 SF/Yr
      41,382 SF

      Prescott Commercial Storage Space Available

      950 sq ft basement storage in secure Prescott subdivision.
      3191 Stillwater Dr, Prescott, AZ 86305
      View Details
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    Prescott, AZ 86305-1407
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    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
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