720 Elrod RdPrescott, AZ 86305

Property Details for 720 Elrod Rd

Year built

1980

Construction

CONCRETE

Lot size

2.25 AC

Property size (Sq ft)

14,849 SF

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

113-10-036F

APU

11310036F

Description

This exceptional 15,349-square-foot industrial property, situated on a spacious 2.25-acre lot in Prescott, Arizona, presents a unique investment opportunity. Located in the heart of Prescott, this versatile building seamlessly blends warehouse, office, and showroom space, currently utilized for manufacturing, distribution, and retail operations. The expansive interior features large open areas ideal for various uses, complemented by elevated loading docks for efficient logistics. The high ceilings, ranging from 16 to 24 feet, provide ample vertical space and flexibility for diverse operational needs. The property's strategic location within a thriving retail hub and in close proximity to Prescott College offers significant advantages. The substantial lot size ensures ample parking and the possibility of developing a secure yard. The building is equipped with solar power, reducing energy costs and promoting sustainability. This property benefits from its position in the largest metropolitan statistical area north of Phoenix, serving a substantial trade area with a population exceeding 255,000, a significant portion residing within a 15-mile radius of downtown Prescott. The Industrial Light zoning allows for a wide range of uses, making this a truly adaptable and valuable asset. This is a rare opportunity to acquire a substantial, well-located industrial property with significant potential for growth and diverse applications. The asking price is $3,375,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,951,812

  6.5%

  $2,724,750

  7%

  $2,530,125

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,547,909

  Geo Method

  $3,547,909

• Alternative Use

  Use

  Valuation

  Residential

  $2,724,750

  Hospitality

  $2,495,856

  Educational

  $2,076,523

  Medical

  $2,147,938

  Retail

  $3,230,147

Location Insight

City

Prescott

County

Yavapai

State

Arizona

Latitude

34.5468

Longitude

-112.479

CBSA code

39150

CBSA name

PRESCOTT VALLEY-PRESCOTT, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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