7.71 Ac., Cordes Junction – Frontage

The property is located in Cordes Junction, Yavapai County, Arizona with frontage on the Prescott bound side of Highway 69 just west of Interstate 17.

The Cordes Junction interchange is 67 miles north of downtown Phoenix, 81 miles south of Flagstaff and 35 miles east of Prescott.

Cordes Junction is the central Arizona traffic interchange serving Prescott and Prescott Valley traffic and north-south interstate travel between Phoenix, Sedona, and Flagstaff.

Offering Price: $671,000
Total Site Area: 7.71 Acres
Price/sf: $2
Parcel: 500-06-015B
Zoning: RCU 2
ADOT Access

Description: Approximately 7.71 acres of undeveloped land gently sloping from the midpoint towards the highway with elevated 360 degree views, stunning to the north. Vegetation is light brush overgrowth.

Access: The Property is accessed by the frontage road on the westbound (Prescott) side of Highway 69, with a dedicated eastbound left-turn lane giving full ingress and egress to the highway. The current frontage road access to the property is Kennedy Drive on the eastern front parcel boundary.

Zoning: Currently RCU-2A, Residential with two (2) acres minimum. Due to the proximity to the interchange, Yavapai County is very interested in the commercial development of bordering and nearby properties and welcomes re-zoning with a formal site development plan. Quail Ridge, a 5-Acre parcel directly across Highway 69 from the subject property, evidences this by being recently rezoned to C1 commercial with a 27-unit “KOA style” RV Park currently under development. C1 zoning is a broad category encompassing gas station, hotel/motel, retail, restaurants, fast food, travel related services as well as neighborhood sales and services for the nearby communities.

Utilities: Utilities are existing on adjacent property. Water wells are in the area.

Traffic: From Cordes Junction to Spring Valley, the nearest community 2.75 miles to the west, 2008 traffic counts are 13,000 daily with predictions to double by 2020. The Interstate 17 traffic to the south counts 26,000 and to the north 17,500. The Arizona Department of Transportation (ADOT) in conjunction with the Federal Highway Administration (FHWA) is in the process of a $53 million Interchange Improvement Project scheduled for 2010-2011 to upgrade and improve the interchange and provide secondary access to the Cordes Lakes community.

Population Centers: The westbound Highway 69/Interstate 17 Interchange is the major artery to the Prescott MSA (82,500) which is the largest Arizona MSA north of Phoenix with growth that exceeds the regional and national averages. It serves the communities of Prescott (47,400), Prescott Valley (41,900), Chino Valley (17,000), and Dewey-Humboldt (4,500). Communities in the property’s immediate vicinity include Mayer, Spring Valley, Cordes Lakes and Arcosanti with a combined population of 6,700. Other major population centers of Phoenix Metro (4.3 million), Flagstaff (65,000) and Sedona (11,400), are within 25 to 75 miles of this location.

Yavapai County: Yavapai County encompasses 8,125 square miles. The current population is approximately 241,000 making it the 4th largest county in the state. It is one of the fastest growing counties in the U.S. and the second fastest in the state, experienced a population growth of 205% from 1990 to 2003.
AZ Dept. of Economic Security and U.S Census Bureau

Multi-Family Investment Opportunities

Like the rest of the nation, Arizona has seen a decline in multi-family transactions due to the severity of the economy.  Arizona Commercial believes we are at or, near the bottom of the decline cycle and multi-family real estate opportunities will once again begin to attract prudent investors.

Arizona Commercial can guide your multi-family investment from start to finish by understanding your financial objectives and preparing a property performance analysis that will serve as the blueprint for your endeavor.