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Listed by Keller Williams Arizona Realty
$ 1,550,000
Est. payment /mo
Active
805 White Spar RD Prescott, AZ 86303
0.36 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1079872
Year Built 1985
Annual Tax Amount $1,728
Tax Year 2025
Lot Size 0.360 Acres
Acres 0.36
Property Sub-Type Hotel/Motel
Source paar
Property Description
Exceptional investment opportunity in the heart of downtown Prescott! The historic Cascade Motel, originally built in 1946, has undergone a comprehensive interior and exterior renovation in 2024/2025 and is now in excellent, turnkey condition. This 11-unit lodging property consists of three separate, adjacent buildings totaling approximately 3,733 SF, situated on +/-0.36 acres with BG (Business General) zoning. The unit mix includes ten fully renovated studio guest rooms and one 1-bedroom suite currently utilized as an on-site manager's office/residence. All units offer Wi-Fi, cable, and utilities included. Recent interior upgrades include new doors and windows, mini-split HVAC systems, digital door locks, vinyl plank flooring, updated cabinetry and countertops, new sinks and showers, modern lighting, and fresh paint throughout. Exterior improvements feature a new parking lot and concrete walkways, updated landscaping, outdoor patio space, enhanced exterior lighting, security camera system, six new water heaters, and new fencing. Additional amenities include a shared kitchen area, storage room, and a newly constructed laundry facility with four coin-operated washers and dryers, folding table, coin change machine, and laundry accessory vending machine. The property provides 11 on-site parking spaces plus additional parking at the southeast corner of the parcel. Flexible BG zoning allows for multiple operational options, including apartment rentals, daily/weekly/monthly lodging, group home, or other specialty multi-family uses (buyer to verify). A rare owner-operator or investment opportunity in a prime downtown location. Currently operated as mid-term rental (weekly to monthly) with solid occupancy. The CAP rate of 7.85% includes a 5% vacancy factor and 5% repair/reserve factor. Management in place that can transfer to new owner.
Location
State AZ
County Yavapai
Zoning Business General
Interior
Heating Electric
Cooling Room A/C, Other
Flooring Concrete, Vinyl
Exterior
Exterior Feature Handicap Access
Utilities Available Electricity Available, Natural Gas Available, Phone Available, Underground Utilities, WWT - City Sewer
Roof Type Asphalt
Total Parking Spaces 11
Building
Story 1
Structure Type Frame,Stucco
Others
Acceptable Financing Cash, Submit
Listing Terms Cash, Submit
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