Investment Overview

Marcus & Millichap is pleased to exclusively present for sale +/- 35.77 acres on the west side of N. State Route 89 in Prescott, Arizona. The site is located about 1/2 mile south of the Prescott Lakes Parkway and +/- 3 miles from the downtown Prescott. The property is currently zoned Business General (BG) by the City of Prescott, BG zoning is intended for moderate-intensity business district providing standards for small to mid-sized business, office, and service uses. BG zoning also permits “by-right” residential uses, including site-built single-family homes, modular homes, duplexes, and multifamily housing. The entire property is located within a federally designated Difficult to Develop Area (DDA), which makes the site desirable to affordable housing developers. Portions of the site are elevated above N. State Route 89 with rolling and sloping topography. It is estimated that about 10 acres of the site is suitable for development without significant site work. The City of Prescott recently revised its Hillside Ordinance and portions of the property may be subject to the new ordinance. The City of Prescott’s water and sewer lines are located on the west side of Route 89 at E. Rosser Street, which is +/- 975 feet from the property's northern boundary. The site has ±2,300 feet of frontage on Route 89 with +/- 18.3k vehicles/day. Buyer to verify all utility access, locations and treatment plant capacity issues during due diligence.