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Investment Opportunities in Prescott Valley
Prescott Valley is a relatively new town, founded in 1965. Most perceive this community as progressive and even enthusiastic in its attitude towards growth, commercial development, and investors. The town council and town administration appear aggressive in reducing red-tape and in removing roadblocks that slow down development. Prescott Valley is considered as the center of development activity in the region.
Highway 69 is the major path to the Prescott Area for residents of the Phoenix metropolitan area. In order to be close to the center of this new development, our Real Estate firm, Keller Williams Check Realty, has recently leased 5,400 square feet of office space to establish a presence close to this area.
Immediately to the south is the newly-incorporated town of Dewey-Humboldt. This town is now under control of those advocating "no-growth" or "keep it rural" factions, thus appearing to establish a boundary of reduced commercial development to the south.
Many believe the City of Prescott is also being heavily influenced by those who would retard growth, thereby restricting development opportunities there. Moreover, the rough, hilly and steep terrain around Prescott is a natural barrier to many future large scale developments in Prescott.
The Town of Prescott Valley has landed many new commercial enterprises. The base of sales tax revenues is growing rapidly, providing the town with a revenue stream that is the envy of the surrounding towns.
In conversation with leasing specialists, we have been told that lease rates for finished building space in Prescott Valley range from a low of around $11.00 per sq-ft to a high of $35.00 per sq-ft in Fry's Center near the corner of Glassford Hill and Florentine. Per our MLS, vacant lots from one to four acres that are zoned C-2 with utilities in place in this area typically sell for $10 to $15 per sq-ft, and maybe as much as twice that for good exposure and position.
