Freestanding Warehouse-Office
2126 N Walgreens Street Flagstaff, AZ 86004
2126 N Walgreens Street, Flagstaff, AZ, 86004
$2,150,000
For Sale
Under Contract
$2,150,000
COMMERCIAL - Flagstaff, AZ
Property Size9,800 SF
Lot Size1.02 Acres
Price / SF$219.39
Days on Market69
Property Features for 2126 N Walgreens Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Security features
- Security System
- Fencing
- Fenced
- Standard status
- Active Under Contract
- APN
- 10730018b
- Size
- 9,800 SF
- Lot size
- 1.02 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Provided in escrow
Utilities
- Utilities
- Phone Available
- Heating system
- Space Heater, Central, Natural Gas
- Cooling system
- Central Air, Gas (Cooling)
Building Details
- Year built
- 1998
- Roof type
- Asphalt, Metal
Listing Agency
Coldwell Banker Northland
(928) 526-5309
5200 E Cortland Blvd., Ste. D, Flagstaff, AZ
Listed by
Darien D Degher · License #SA640115000
(928) 607-3749
Added: May 12 Checked: Jul 19 at 6:06 am
MLS# 204477
Copyright © 2026 Northern Arizona Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A freestanding warehouse-office facility located within Flagstaff’s Northwoods Business Centre. The approximately 9,800-square-foot building includes a mix of office and warehouse space, described as roughly 60 percent office and 40 percent warehouse. Improvements include a fenced yard, on-site parking, a large concrete pad, a monument sign, and a rolling gate designed to support delivery and service access. The property is zoned Light Industrial (LI).
Convenient access to the I-40 / US-89 transportation network connects the facility to the broader regional roadway system. The site sits on 1.02 acres, providing space for industrial-style circulation and outdoor staging through the fenced yard.
This configuration is well-suited for an owner-user seeking combined office and warehouse functionality in one location, particularly service providers, contractors, or companies supporting light assembly and distribution. The fenced yard and rolling gate can support day-to-day loading needs while keeping operations organized on-site. The property may also interest light industrial or flex investors looking for durable tenancy in a business-park setting with Light Industrial zoning and dedicated industrial site amenities.
Convenient access to the I-40 / US-89 transportation network connects the facility to the broader regional roadway system. The site sits on 1.02 acres, providing space for industrial-style circulation and outdoor staging through the fenced yard.
This configuration is well-suited for an owner-user seeking combined office and warehouse functionality in one location, particularly service providers, contractors, or companies supporting light assembly and distribution. The fenced yard and rolling gate can support day-to-day loading needs while keeping operations organized on-site. The property may also interest light industrial or flex investors looking for durable tenancy in a business-park setting with Light Industrial zoning and dedicated industrial site amenities.
Key Highlights
- Approximately 9,800 SF freestanding warehouse/office facility in Flagstaff’s Northwoods Business Centre
- Building mix of about +-60% office and +-40% warehouse, built in 1998
- Sits on 1.02 acres with a fenced yard, large concrete pad, on‑site parking, and rolling gate
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $228.1k | $23.28 |
| − Vacancy | −$47.9k | −$4.89 |
| EGI | $180.2k | $18.39 |
| − OpEx | −$45.1k | −$4.60 |
| NOI | $135.2k | $13.79 |
9,800 SF · lease $23.28/SF/yr · vacancy 21.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.93M
$1.69M – $2.25M
NOI $135,175 @ 7.0% cap · market cap 6.29%
Second Best
Flex RnD
$1.56M
$1.36M – $1.82M
NOI $108,927 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,652 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Freestanding light industrial facility with fenced yard and rolling gate, combining office space with warehouse operations.
Where is this flex space located?
The property is located at 2126 N Walgreens Street Flagstaff, AZ.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Approximately 9,800 SF freestanding warehouse/office facility in Flagstaff’s Northwoods Business Centre; Building mix of about +-60% office and +-40% warehouse, built in 1998; Sits on 1.02 acres with a fenced yard, large concrete pad, on‑site parking, and rolling gate
