129 N Cortez Street $3,300,000

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    129 N Cortez Street Prescott, AZ 86301

    Closed
    SOLD 11/25/2019

    $3,300,000

    • 0.42 Acres
    • Commercial
    • MLS# 1015197
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    Views: 228

    Property Details

    Description

    The Downtown Prescott Inn is a 56-room independent, limited service hotel. The property also includes a 3,000 sf commercial space currently operating as a full-service restaurant & bar that accommodates 125 seats. The entire property is being offered For Sale @ $3,495,000 (or $55,000/unit & $415,000 for the commercial restaurant lease offered at a 10 CAP). The property spans 3 floors totaling approx. 25,597 sf (sf to be confirmed by Buyer) and is elevator served. The main level consists of a large lobby/reception area, managers office, storage & mechanical rooms and Papa's Italian Restaurant. All 56 units are located on the second and third floors with 31 units having their own private bathroom and 25 units that share a total of 6 common bathrooms (3 bathrooms per floor) Click More Tab...

    • General Features
      • Zip Code 86301
      • UnBranded Virtual Tour http://www.tourfactory.com/idxr2057416
      • Vac Rate Pct 100.00
      • Year Built 1974
      • Agent Days On Market 352
      • Agent ID 20130713151434575609000000
      • Business Location Freestanding Bldg, Inside Location
      • Cap % 0.00
      • Cam Amt 0.00
      • Cc & R Fees 12224.00
      • City/Township Prescott
      • Comm Type Hotel/Motel
      • County Yavapai
      • Direction N
      • Directions From the Courthouse Square, head north on Cortez St. Property is mid-block on the right. Lobby entrance is adjacent to Papa's Italian Restaurant.
      • Display on Public Websites Y
      • Entry Timestamp 9/5/2018 12:43:50 AM
      • Geo Lat 34.542908
      • Geo Lon -112.468563
      • Financing Conventional
      • Grm 0
      • Internal Listing ID 20180824202934710303000000
      • Legal CITY OF PRESCOTT THE S 32.83' OF LOT 10 & THE N 14.31' OF LOT 12 BLK 9
      • List Number Main 1015197
      • List Number Prefix 00
      • List Price SqFt 137.00
      • Listing ID 1015197
      • Listing Price 3495000.00
      • ListingMemberAddress 102 W Gurley St #102, Prescott, AZ 86301
      • ListingMemberEmail raymond@prescottcommercial.com
      • ListingMemberFax (928) 443-9566
      • ListingMemberName Raymond G. Zogob
      • ListingMemberPhone (928) 443-0766
      • ListingMemberShortId 4993
      • ListingOfficeAddress 102 W Gurley St #102, Prescott, AZ 86301
      • ListingOfficeEmail broker@bloomtreerealty.com
      • ListingOfficeFax (928) 443-8822
      • ListingOfficeName Better Homes And Gardens Real Estate Bloomtree Realty
      • ListingOfficePhone (928) 443-8800
      • ListingOfficeShortId 5358.000
      • MLS Approved Y
      • MLS Identifier 20130515013222870030000000
      • Num Units 56
      • Noi Amt 0.00
      • Office ID 20130713020151498357000000
      • Original List Price 3495000.00
      • Picture Count 38
      • Picture Timestamp 9/6/2018 5:14:33 PM
      • Property Group ID 19990816212135227274000000
      • Property Type C
      • Possession At Recordation
      • Records Available Site Plan
      • Remarks The Downtown Prescott Inn is a 56-room independent, limited service hotel. The property also includes a 3,000 sf commercial space currently operating as a full-service restaurant & bar that accommodates 125 seats. The entire property is being offered For Sale @ $3,495,000 (or $55,000/unit & $415,000 for the commercial restaurant lease offered at a 10 CAP). The property spans 3 floors totaling approx. 25,597 sf (sf to be confirmed by Buyer) and is elevator served. The main level consists of a lar
      • Reo/Short Sale Not Applicable
      • St Suffix Street
      • State AZ
      • Status Closed
      • Street Name Cortez
      • Street Num 129
      • Tax Parcel 113-16-056A & 056C
      • Tax Year 2017
      • Taxes $15,265
      • Timestamp 11/25/2019 8:58:46 PM
      • Sold Date 2019-11-25
    • Building Features
      • Buildings 1
      • Aprx Sq Ft Building 25597.00
      • Cooling Ceiling Fan(s), Gas Pack
      • Heating Electric, Gas
      • Bathrooms1 Other - See Remarks, ADA, Shared
      • Building Type Other - See Remarks, 5+ Units, Motel/Hotel
      • Construction Stucco, Frame - Wood
      • Flooring Carpet, Vinyl
      • Floor 3.00
      • Internal Amenities Sprinklers, Ceiling Fan(s), Elevator(s)
      • Stories 3
    • Property Features
      • Approximate Acres 0.42
      • Lot Size 6970
      • Source of Measuremnt Owner
      • Utilities Installed Master Meter, Natural Gas, Telephone, Water - City, Electricity, WWT - City Sewer
      • External Amenities Handicap Access, Paved Parking
      • Zoning DTB
      • Commercial Amenities Ceiling Ht. Under 12, Ceiling Ht. 12-15
      • Parking On-Site
      • Parking Spaces 10
      • Road Access/Maint City, Paved, Maint-City

    Neighborhood

    86301 (Prescott) Demographics

    53 Median Age
    715 Population Density (per sq. mile)
    47% College Educated
    $48,130 Estimated Median Income
    6,239 Estimated Total Home Owners
    3,624 Estimated Total Renters
    63% / 37% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    22,109 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $405,000 Median Sales Price
    56 Homes Sold
    44 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source New Value: $0 -100%
        11/25/2019 12:00:00 AM Sold Source New Value: $3,300,000

        About

        Matt Rivera

        Matt Rivera Regional Mortgage Manager

        Matt Rivera – Regional Mortgage Manager, Long Mortgage

        Matt Rivera has more than 18 years of experience in the lending industry. He has experience in a wide variety of positions vital to the originating, funding and eventual sale of residential mortgages.  Matt currently manages a team of Mortgage Consultants, Processors and Closer in multiple states. Matt is a native Tucsonan and a graduate of the University of Arizona’s Eller College of Management with a major in Finance.  

        Information is provided in part by the IDX program of the Prescott Association of REALTORS® MLS. All information provided is deemed reliable but is not guaranteed and should be independently verified.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.