3250 Gateway Boulevard $15,000,000

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    3250 Gateway Boulevard Prescott, AZ 86303

    Active
    • 35.56 Acres
    • Commercial
    • MLS# 1043833
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    Views: 88 Days On Site: 48

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    Property Details

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    Prescott Gateway Mall is a modern, multifaceted regional shopping mall built in 2002, comprised of both an indoor traditional mall and an open-air outdoor lifestyle center. Indoors, under a magnificent exposed beam ceiling, are approximately 133,000 square feet and 67 suites, six of which serve an open and inviting food court. Outside, in the nicely landscaped open-air lifestyle center, 29 more suites occupy approximately 192,000 square feet. The property hosts national, regional and independent tenants including Bed Bath & Beyond, Michaels, Mattress Firm, Famous Footwear, Chico's, Bath & Body Works and Spencer's. Prescott Gateway Mall is an exciting value-addable opportunity for an investor looking to reposition the project. Some of the upsides include the potential of developing outparcels and/or selling the pads, building out the 21,000 square feet of gray shell space, increasing under market rents, rebranding the property and drawing alternative uses to the property. The possibilities are endless. This is the only shopping mall for nearly 100 miles offering both an enclosed traditional mall shopping experience as well as an outdoor lifestyle and Town Center component. Flush with variety and centrally located, the mall functions as a community hub for the Quad City Area Prescott, Prescott Valley, Chino Valley, Dewey-Humboldt - and beyond. Demographically, the area continues to grow at a remarkable rate, fueled by a steady stream of new arrivals seeking refuge from the tax and regulation burdens of bigger cities and states. Prescott Gateway Mall is located in the area's prime retail hub at the intersection of State Route 69 and Prescott Lakes Parkway. It is surrounded by Class A retail, restaurant and service tenants including Costco, Walmart, Lowe's, Trader Joe's, Best Buy, Red Robin, Olive Garden, In-N-Out, and US Bank, as well as some of Prescott's most prestigious and established residential communities and a flourishing retirement community.

    • General Features
      • Zip Code 86303
      • UnBranded Virtual Tour https://vimeo.com/phoenixdroneclients/review/515310419/80744e7d12
      • Vac Rate Pct 30.90
      • Year Built 2001
      • Business Location Commercial Strip, Multiple Locations, Traffic Signal
      • Business Name Prescott Gateway Mall
      • Cap % 4.80
      • Cc & R Yes
      • City/Township Prescott
      • Cc & R Frequency Monthly
      • Cc & R Type Other - See Remarks
      • Comm Type Shopping Center
      • County Yavapai
      • Construction Status Existing
      • Directions Turn into the Mall Entrance at State Route 69 and Gateway Blvd.
      • Display on Public Websites Y
      • Entry Timestamp 12/2/2021 11:04:07 AM
      • Geo Lat 34.547549
      • Geo Lon -112.409163
      • Grm 7
      • Gross Vol Yr Amt 2131709.95
      • List Price SqFt 48.00
      • Management Manager
      • Num Units 104
      • Noi Amt 717852.85
      • Neighborhood N/A
      • Property Type C
      • Property Use Investment Prop
      • Reo/Short Sale Not Applicable
      • Subdivision None
      • Tax Parcel 103-20-600M
      • Space Available Yes
      • Tax Year 2019
      • Taxes $178,349
    • Building Features
      • Buildings 3
      • Aprx Sq Ft Building 313132.00
      • Cooling Heat Pump
      • Construction Bay Door Height 12
      • Construction # of Bays 2
      • Heating Electric, Natural Gas, Zoned
      • Bathrooms 75.00
      • Bathrooms1 ADA, Public, Separate M and W
      • Building Type 5+ Units
      • Construction Frame - Steel
      • Flooring Carpet, Concrete, Tile
      • Internal Amenities Ceiling Fan(s), Fire/Smoke Detector, Security/Alarm, Sprinklers
      • Roof Metal, Welded Membrane
      • Stories 1
    • Property Features
      • Approximate Acres 35.56
      • Lot Size 1437480
      • Zoning Description Business Regional
      • Utilities Installed 220, 3 Phase, Electricity, Fire Hydrant, Individual Meter, Master Meter, Natural Gas, Security System, Telephone, Underground, Water - City, WWT - City Sewer
      • External Amenities Handicap Access, Landscaped, Paved Parking
      • Traffic Count Per Day 44000
      • Volts 480.0000
      • Zoning BR
      • Commercial Amenities Ceiling Ht. 16+, Ceiling Ht. Under 12, Overhead Door(s), Truck/Loading Dock
      • Parking On-Site, Storage, Trailer, Truck
      • Parking Spaces 3000
      • Road Access/Maint Maint-Private, Paved, State

    Contact

    Pat Leahy

    Pat Leahy

    REALTOR®

    BR516735000

    Foothills - Tucson

    Direct: 520-262-9583

    Neighborhood

    86303 (Prescott) Demographics

    58 Median Age
    133 Population Density (per sq. mile)
    51% College Educated
    $56,085 Estimated Median Income
    5,852 Estimated Total Home Owners
    2,865 Estimated Total Renters
    67% / 33% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    17,719 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $679,000 Median Sales Price
    46 Homes Sold
    32 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $15,000,000
        12/2/2021 9:18:00 AM New in Database Source: Multiple Listing Service New Value: $15,000,000

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Information is provided in part by the IDX program of the Prescott Association of REALTORS® MLS. All information provided is deemed reliable but is not guaranteed and should be independently verified.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.