124 N Virginia Street, Prescott, AZ 86301

Property Description

Rare opportunity to acquire a well-established, multi-building campus in a highly accessible location just off E. Gurley Street in central Prescott. The property is being offered at $1,795,000 ($183.41/SF), priced below a recent appraisal, and offers an attractive combination of substantial existing improvements, land, parking, outdoor areas, and flexible potential for continued educational use or adaptive reuse. Located adjacent to OneAZ Credit Union, the property enjoys convenient access from N. Virginia Street, with additional access from an alley along the west side of the campus. The site provides 40+ on-site parking spaces, with additional street parking available along N. Virginia Street.The property formerly served as the home several charter schools for over 30 years and most recently La Tierra Community School a successful K-7 educational institution that recently acquired a larger campus in Prescott to accommodate its growing student population. The existing campus consists of three separate, adjacent buildings on three separate parcels totaling +/-9,787 SF on +/-.90 acres of MF-H zoned land, together providing a functional mix of classrooms, offices, open areas, restrooms, kitchen facilities, storage, playgrounds and other improvements.Building A - 124 N. Virginia St. +/-7,636 SF | Two-Story Building | 8 Classrooms. The primary campus building is a two-story walk-up built in 1977 and contains eight classrooms. Each classroom features a counter with hand sink, windows providing east and west exposure, and dedicated storage areas. There are over .25 acres of open space immediately adjacent and to the east of the building used as a playground area and could be repurposed. The building's existing configuration and educational improvements provide an excellent foundation for a continued school or institutional use, while also offering potential for other users seeking substantial existing improvements.Building B - 130 & 134 N. Virginia St. +/-1,132 SF | Former Single-Family Residence / Administrative Offices. Constructed in approximately 1927, Building B is a former single-family residence that was converted from a 3 bedroom 2 bath home for use as the school's administrative offices. The interior has an open configuration, with most interior walls removed except for the kitchen area, storage room and restroom. Its location immediately north of Building A provides convenient separation between administrative and classroom functions.Building C - 138 N. Virginia St. +/-1,019 SF | Former Residence / Preschool Facility. Constructed in approximately 1940, Building C is another former single-family residence that was converted from a 2 bedroom 1 bath home and adapted for educational use. The building has been utilized as a preschool and includes two large open classrooms, a kitchen area and restroom. The campus also includes significant outdoor improvements that enhance its functionality for educational, recreational or other potential uses: a large outdoor playground area east of Building A; a second playground area east of Building C; +/-480 SF detached storage shed; chain-link fencing surrounding the campus; 40+ on-site parking spaces; additional street parking along N. Virginia Street; convenient alley access along the west side of the property. The property is currently leased to La Tierra Community School through June 2027. Current rent is $12,300 per month, with the tenant also responsible for all operating expenses of the campus. The existing lease provides an investor with an opportunity to acquire the property with an established tenant and current rental income while also providing an owner-user or future investor with flexibility to evaluate the property following the expiration of the current lease. The owner is willing to consider seller carry-back financing, subject to the buyer's financial qualifications, creditworthiness, proposed purchase terms and other customary underwriting requirements. CLICK MORE...