Is Local Commercial Real Estate the Answer?
Opportunity is calling in the Prescott Commercial Real Estate Market. Whether you are an investor or an owner/user, there is currently an opportunity for everyone. However, the one thing that the current market is lacking is a wide variety of to inventory choose from. Excluding vacant land, residential/multi-family and vacation rentals (or house/office conversions) there are only 29 commercial/industrial properties currently listed for sale in the township of Prescott and 3 properties that are pending sale as of June 1, 2023.
Of these 29 properties for sale, the lowest listed property price is $562,000.
This property is a 1,748 SF retail/office on roughly an 8,000 SF lot on W Gurley. The highest priced property is an investment on a 50,000+ SF class A industrial warehouse, 100% leased with a 5.83% cap rate listed for $11,350,000. That is quite a range!
However, many of the properties are within the reach of most commercial real estate investors which presents great potential for growth, even in a low-inventory market.
Take a look at the current commercial real estate market snapshot I have put together here:
There are two types of commercial real estate buyers that can really benefit in this market, local investors and local business owners looking to own their own location. Local is the theme and Prescott commercial real estate has something for both demographics!
Local investors: For many of us the traditional investment markets like stocks, bonds, commodities, and the like have become so volatile and controlled by politics and monetary policy that they may not make sense for us any longer. Investing in your hometown through commercial real estate that you can see, touch and control makes more sense at this place in time. There are great opportunities to create monthly, consistent asset-backed income while enjoying appreciation and the security that local commercial real estate can provide. This can be done individually, through a trust, or as a group through a limited liability company or other investment vehicle. Prescott is the ideal location, and you will feel proud and secure investing in your hometown.
Local businesses: One of the largest expenses for any location-based business is the cost of the lease. It is also a critical component of the business that is typically controlled by someone else, a major variable that can produce uncertainty. As a business owner, investing in your own commercial real estate allows you to control your own destiny, reduce business risks, and minimize your tax burden all while putting more money in your pocket for your family. Prescott is the ideal location to invest in your own future.
Brookshire & Associates is committed to creating and preserving the wealth of its clients through commercial real estate sales, leasing, and investments. Our focus is truly on a local level where positive changes have a profound impact on local prosperity and in turn the success of our clients. No matter what commercial real estate position you are in, property owner, active or passive investor, business owner or hope to be one of those in the future, let my expertise be your guide here in Prescott. Call, text or email me any time, I am always available to guide you on your commercial real estate journey.
Ron Brookshire Broker, REALTOR©, SFR
Recognized, Respected, Recommended
Direct: (928) 458-1403
Email: Ron@BrookshireAssociates.com
Website: www.BrookshireAssociates.com
AZDRE BR706071000
Brookshire & Associates, LLC
3623 Crossings Dr, Ste 272
Prescott, AZ 86305
