Photo Gallery
$4,500,000
0
Beds
5
Baths
0
Sqft
141 S Mccormick Street, Prescott, Arizona, 86303
By contacting this agent you agree to these Terms and Conditions.
MLS# 1075827
This Downtown Prescott investment is a prime opportunity for
$4,500,000
141 S Mccormick Street, Prescott, Arizona, 86303
0
Beds
5
Baths
0
Sqft
0.860
Acres
$4,500,000
141 S Mccormick Street, Prescott, Arizona, 86303
0 Beds
5 Baths
0 Sqft
0.860 Acres
Accessibility Features
Accessible Approach with Ramp
Accessible Elevator Installed
This Downtown Prescott investment is a prime opportunity for investors seeking steady cash flow and a diverse tenant mix while being 100% occupied. Located just two blocks from the iconic Courthouse Square, this property sits in a highly walkable, demand-driven downtown business district that attracts residents and visitors year-round. The property is comprised of 42 units, covered private parking, a restaurant building, spread across five parcels and two well-maintained buildings, with 72 grade level parking spaces that enhances desirability for tenants and reduces turnover. Historically low vacancy rates demonstrate the property's resilience and enduring appeal. One of Prescott's most popular dining destinations enhances the site, drawing consistent foot traffic and contributing to a robust tenant mix. Bringing lease rates to market value at this property skyrockets the cap rate from 1% to 12% with a proforma NOI of $543,324. The multi-tenant office component already houses a range of professional services 'legal, financial, medical, development services and other professional businesses' ensuring diversified income streams and reduced risk. From an investment perspective, the property offers multiple upside opportunities including rental rate optimization, rightsizing expenses, opportunities for redevelopment or reconfiguration to maximize unit counts, and potential for capital improvements that enhance property value, commanding higher rents, and tenant appeal. The downtown location ensures strong market demand (growing population, thriving tourism, and a burgeoning local economy, all of which bode well for continued demand and rent growth). This listing presents a compelling chance to acquire a well-positioned, income-generating asset in a premium Prescott location. Whether you're seeking stable annual returns, long-term appreciation, or a strategic foothold in a high-demand market, this investment property delivers cash flow, tenant diversity, and future upside.
98 days
on BarrierFreeHome.com
31
views
0
saves
Property Details
0 Beds
5 Baths
0 Sqft
Built 1990
0.860 Acres
No Patio
On Street
Zoned, Natural Gas, Heat Pump (Heating), Electric (Heating)
Siding : Frame, Stucco
Membrane, Rolled Hot Mop Roof
$46,954 Property Tax
Prescott Origil Township Community
Yavapai County
See More Details
Location
Mortgage Calculator
Ad Statistics
Ad Number
7042290
Viewed
31 times
Added
Dec 08, 2025
Updated on
Dec 08, 2025
Listing Information
Data Source
Prescott Area Association of Realtors®
Source Property ID
1075827
Compliance
Listing Agent: Donald S Teel, Arizona Commercial LLC, 928-777-8100, 928-515-1223, Listing Status: Active
Copyright © 2025 Prescott Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Copyright © 2025 Prescott Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Request Information
Start advertising today
Explore options for real estate agents and homeowners advertising on BarrierFreeHome.com
Sell Your Home
Explore Similar Properties
