223 White Spar RdPrescott, AZ 86303

Property Details for 223 White Spar Rd

Year built

1992

Construction

STEEL FRAME

Lot size

0.19 AC

Property size (Sq ft)

3,601 SF

Property type

Office buildings

APN

109-15-011C

APU

10915011C

Description

This exceptional 3,601 square foot office building in Prescott, Arizona, presents a compelling investment opportunity. Situated on a 0.18-acre lot at 223 White Spar Road, the property boasts a strong tenant base with a recently renewed 10-year, triple-net (NNN) lease for the main 2,413 square foot unit. This long-term lease provides immediate and stable cash flow. Two additional units, totaling 1,188 square feet (988 sq ft and 200 sq ft), offer flexibility for lease to additional tenants or owner occupancy. Recent improvements enhance the property's appeal, including fresh interior and exterior paint in the lower-level unit (Unit B), new carpeting, and restriped parking. The building is equipped with ADA-compliant access and restrooms on both levels, ensuring accessibility and convenience. With a projected 7.0% capitalization rate (based on all three units), this property offers a strong return on investment. The prime location on White Spar Road provides excellent visibility and accessibility. This is an ideal opportunity for investors seeking a stable, high-yield commercial property in a desirable Prescott location.

• CAP approach

  CAP return

  Valuation

  6%

  $577,289

  6.5%

  $532,882

  7%

  $494,819

• Comparable approach

  Method

  Valuation

  Relative Method

  $555,094

  Geo Method

  $555,094

• Alternative Use

  Use

  Valuation

  Residential

  $660,773

  Hospitality

  $605,265

  Educational

  $503,573

  Medical

  $520,892

  Retail

  $783,336

Location Insight

City

Prescott

County

Yavapai

State

Arizona

Latitude

34.531

Longitude

-112.471

CBSA code

39150

CBSA name

PRESCOTT VALLEY-PRESCOTT, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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