Listing MLS# 522739 Cottonwood AZ Real Estate
Please contact Barbara Baker at 928.301.0669 for more information on this property! I specialize in Cottonwood AZ real estate, Mingus Park - Cottonwood real estate for sale, Cottonwood, AZ homes for sale and Cottonwood real estate and Cottonwood homes.
Cottonwood, AZ 86326
- N/ABeds
- 0.00Total Baths
- 3,430SqFt
- 1953Year Built
- 0.29Acres
- 70 yearsEst Age
- MLS# 522739
- Commercial
- Commercial
- Sold
- Approx Time on Market7 months, 13 days
- AreaCottonwood
- CountyYavapai
- SubdivisionMingus Park
Overview
For many years the Cottonwood/Camp Verde area has lacked enough small retail rental spaces to meet community demand. This property, originally built in 1953, was recently remodeled by the owners into 11 rental spaces with six bathrooms, at a cost of over $100,000. The overall 3430 sq. ft., gradually rising in occupancy, now brings in monthly rents of $4,525 per month, or $54,300 per year, producing a cap rate of about 7.45%,. Leases are one to four years. When the building reaches over 90% occupancy the total monthly rent is expected to be over $6,000 per month, or $72,000 per year. This could produce a 10% cap rate. The property is well located on S. Main Street adjoining the old Circle K. The location should benefit from the new Circle K planned for the NW corner of Mingus & Main
Building Info
Year Built: 1,953
Construction: Block, Frame - Wood, Stone, Stucco
Floors: Concrete, Laminate, Sheet Vinyl, Tile
Internal Amenities: Ceiling Fan, Fire/Smoke Alarm, Refrigerator, Security
Roof Materials: Comp Shingle
Type Building: 5 or More Units
Financial
Asking Price Text: $475,000
Lot Info
Acres: 0
Road Access Type: City, Paved, Recorded Easement
Misc Info
Pet Privileges: No
Commercial Amenities: None
External Amenities: Sprinkler/Drip
Parking Info
Parking Spaces: 10 - 19 Cars, Off Street
Property Info
Class Type: Commercial
County: Yavapai
Road Maintenance: City Maintained, Privately Maintained
Sale / Lease Info
Sold Date: 2020-11-11 00:00:00
Sold Price: $440,000
Special Conditions: N/A
SqFt Info
Sqft: 3,430
Lot Size: 100 x 125
Utilities / HVAC
Cooling: Gas
Utilities Included: Cable TV, Electricity, Master Meter, Natural Gas, None, Public Water, Sewer (Private), Sewer (Public), Shared Well, Telephone
Water Heater: Natural Gas
Courtesy of Sound Investments
MLS# 531147 
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