Fully leased 12 unit + office multifamily portfolio in Downtown Prescott. Three parcels totaling approximately 0.64 acres with +/-11,600 SF of improvements, 100% leased to a licensed treatment operator under a modified NNN lease structure.Current rent of $20,800/month increases 4% upon renewal, producing $249,600 in annual income post-renewal. Tenant reimburses operating expenses and pays property taxes directly, providing stable, low-management cash flow.Zoned MF-M with long-term flexibility for continued multifamily use or redevelopment. Rare, stabilized investment opportunity in a supply-constrained downtown submarket.Offered at $3,750,000 (~6.66% cap on post-renewal income).
For sale
$3,750,000
214 N Arizona Ave, Prescott, AZ 86301
--beds
--baths
11,600sqft
:
Get pre-qualified$22,839/mo
Multi Family
Built in 1992
-- sqft lot
$2,985,900 Zestimate®
$323/sqft
$-- HOA
What's special
- 150 days |
- 116 |
- 3 |
Zillow last checked:
Listing updated:
Listed by:
Nick Malouff 928-925-2023,
Commercial Advisors of Prescott
Source: PAAR as distributed by MLS GRID,MLS#: 1079801
Facts & features
Interior
Heating
- Electric, Heat Pump, Natural Gas
Cooling
- Ceiling Fan(s), Central Refriger, Evaporative Cooling, Heat Pump, Room Evap
Features
- Flooring: Carpet, Laminate, Tile
- Has fireplace: No
Interior area
- Total structure area: 11,600
- Total interior livable area: 11,600 sqft
Property
Accessibility
- Accessibility features: Exterior Handicap Access
Lot
- Size: 0.64 Acres
- Features: Landscaped
Details
- Has additional parcels: Yes
- Parcel number: Multi
- Zoning: MF-M
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame
- Roof: Asphalt
Condition
- Year built: 1992
Utilities & green energy
- Sewer: City Sewer
- Water: Public
- Utilities for property: Electricity Available, Individual Meter, Natural Gas Available
Community & HOA
Community
- Subdivision: Joslin Whipple
HOA
- Has HOA: No
Location
- Region: Prescott
Financial & listing details
- Price per square foot: $323/sqft
- Tax assessed value: $1,435,889
- Annual tax amount: $6,330
- Date on market: 2/25/2026
- Cumulative days on market: 151 days
- Electric utility on property: Yes
- Road surface type: Paved
Estimated market value
$2,985,900
$2.27M - $3.79M
$1,822/mo
Price history
| Date | Event | Price |
|---|---|---|
| 2/25/2026 | Listed for sale | $3,750,000+1215.8%$323/sqft |
Source:  PAAR as distributed by MLS GRID #1079801 Report a problem | ||
| 12/4/2018 | Sold | $285,000-65.7%$25/sqft |
Source: Public Record Report a problem | ||
| 12/6/2017 | Sold | $830,000-14.9%$72/sqft |
Source: Public Record Report a problem | ||
| 6/28/2017 | Listing removed | $975,000$84/sqft |
Source: KLEIN PROPERTIES AND INVESTMENTS, LLC #1004475 Report a problem | ||
| 6/21/2017 | Listed for sale | $975,000$84/sqft |
Source: KLEIN PROPERTIES AND INVESTMENTS, LLC #1004475 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,123 +2.1% | $53,220 +5% |
| 2024 | $3,060 +2% | $50,685 -72.1% |
| 2023 | $2,999 -4.1% | $181,392 +29.4% |
| 2022 | $3,126 -0.2% | $140,166 -4.5% |
| 2021 | $3,132 +1.3% | $146,814 +13.7% |
| 2020 | $3,092 +3.7% | $129,179 |
| 2019 | $2,983 | -- |
| 2018 | -- | -- |
| 2017 | -- | -- |
| 2016 | -- | -- |
| 2015 | -- | -- |
| 2012 | -- | -- |
| 2010 | -- | -- |
| 2008 | $6,996 | -- |
| 2007 | -- | -- |
| 2006 | -- | -- |
| 2005 | -- | -- |
| 2004 | -- | -- |
| 2003 | -- | -- |
| 2002 | -- | -- |
| 2001 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 86301
Nearby schools
GreatSchools rating
- 8/10Lincoln Elementary SchoolGrades: K-5Distance: 1 mi
- 4/10Prescott Mile High Middle SchoolGrades: 6-8Distance: 0.9 mi
- 8/10Prescott High SchoolGrades: 8-12Distance: 1.6 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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