Description

371 Garden Street is a fully leased retail center for sale at 371 Garden Street in Prescott, AZ 86305. Its 12,000 SF of gross leasable area and five-tenant lineup give investors an occupied retail asset with income spread across multiple leases.

Built in 1999, the center sits on 0.93 acres and has 49 on-site parking spaces, with a parking ratio of 2.45 per 1,000 SF. The five leases are structured as NNN leases, placing the investment’s income and expense arrangements at the center of the underwriting. The largest suite is 6,000 SF, while the remaining tenants broaden the rent roll beyond a single occupant. For a buyer focused on retail operations, the parking and tenant lineup are tangible features of the property, not just figures in the offering summary.

The Prescott location puts the center among named destinations including Depot Marketplace, Prescott College and Downtown Prescott. The surrounding retail map also identifies Sprouts Farmers Market, Staples and Walgreens. That mix of shopping and civic destinations gives a buyer useful context for the property’s retail setting, while the center’s own occupancy and parking define its position within it. The address makes the asset straightforward to locate for investors comparing Prescott retail holdings.

The asking price is $2,750,000. At 100% occupancy, the property has in-place NOI of $180,653 and an in-place cap rate of 6.57%. Those figures frame the purchase around current income rather than a lease-up plan, with the five-tenant structure giving the buyer several leases to review as part of the investment. The Offering Materials are the next step for a closer look at 371 Garden Street.