500 Copper Basin RdPrescott, AZ 86303

Property Details for 500 Copper Basin Rd

Year built

1954

Construction

STEEL FRAME

Lot size

0.45 AC

Property size (Sq ft)

306 SF

Property type

Hospitality properties

Property subtype

Motels

APN

109-09-078A

APU

10909078A

Description

This exceptional Prescott, Arizona investment opportunity presents a fully renovated, 15-unit multifamily property (previously a motel) boasting a strong 100% occupancy rate. Situated on a 0.45-acre lot at 500 Copper Basin Rd, Prescott, AZ 86303, this property offers 4,686 square feet of net rentable space, comprised of 13 studio units and 2 suites. The property underwent a complete renovation in 2022, enhancing its appeal and profitability. Currently generating a Net Operating Income (NOI) of $138,889, resulting in an 8.42% capitalization rate, with a pro-forma NOI of $167,083 and a pro-forma cap rate of 10.13%. The asking price is $1,649,000, translating to $109,933.33 per unit and $351.90 per square foot. Conveniently located near downtown Prescott and Highway 89, the property benefits from its proximity to shops, restaurants, and the Prescott Courthouse. Additional income streams are derived from on-site laundry facilities and late payment fees. The property features five buildings across two stories, with ample parking (20 spaces total), and is zoned for general business use. This is a turnkey operation ideal for an owner-user or 1031 exchange, offering significant potential for future growth in the thriving Prescott market. The property's APN is 109-09-078A. The building was originally constructed in 1962.

• CAP approach

  CAP return

  Valuation

  6%

  $55,719

  6.5%

  $51,433

  7%

  $47,759

• Comparable approach

  Method

  Valuation

  Relative Method

  $110,849

  Geo Method

  $110,849

• Alternative Use

  Use

  Valuation

  Residential

  $56,150

  Hospitality

  $51,433

  Educational

  $42,792

  Medical

  $44,264

  Retail

  $66,565

Location Insight

City

Prescott

County

Yavapai

State

Arizona

Latitude

34.5301

Longitude

-112.476

CBSA code

39150

CBSA name

PRESCOTT VALLEY-PRESCOTT, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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