Phone 928.300.1699
Email Jan & Wally
Jan Bigelow: 928.300.1699
Wally Reule: 928.301.5943
Email Us
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
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
Asking Price Text: $475,000
Acres: 0
Road Access Type: City, Paved, Recorded Easement
Pet Privileges: No
Commercial Amenities: None
External Amenities: Sprinkler/Drip
Parking Spaces: 10 - 19 Cars, Off Street
Class Type: Commercial
County: Yavapai
Road Maintenance: City Maintained, Privately Maintained
Sold Date: 2020-11-11 00:00:00
Sold Price: $440,000
Special Conditions: N/A
Sqft: 3,430
Lot Size: 100 x 125
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
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