Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    309 N Humphreys Street Flagstaff, AZ 86001

    View on Map
    For Sale
    $1,550,000

    COMMERCIAL - Flagstaff, AZ

    Property size:
    3,648 SF
    Lot size:
    0.24 Acres
    Added:
    Jan 3, 2025
    Days on Market:
    456
    Last Refresh:
    Apr 4 at 9:06 am

    Property Features for 309 N Humphreys Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    10009001e
    Size
    3,648 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    SUBDIVISION: FLAGSTAFF TOWNSITE BLOCK: 4B BEG SLY COR LOTS 3 & 4; TH N 68-57-01 W 2.00' TPOB; TH N 20-55-25 E 75.02'; T
    Tax Annual Amount
    6730

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Natural Gas
    Cooling system
    Multi Units

    Building Details

    Year built
    1943
    Floors in Building
    2
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Bruce Bourne

    Listing agent Bruce Bourne

    Listing office Linton Real Estate 304 S Elden St., AZ

    Listing date Jan 3, 2025

    MLS# 199205

    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.

    Overview

    Historic Downtown Income Property

    Located on a high-profile corner lot in the heart of Historic Downtown Flagstaff, this updated income property, known as the circa 1906 Lindemann House, is zoned Community Commercial and has accommodated a variety of prior commercial uses. The 3,648 square foot property features five residences: three fully furnished short-term rentals and two long-term rentals, including a furnished 2-bedroom, 1-bath penthouse apartment and an unfurnished 1-bedroom, 1-bath apartment. The short-term rentals consist of a large studio apartment, a 2-bedroom, 1-bath apartment, and a 1-bedroom, 1-bath apartment. The 0.24-acre lot includes a large paved parking lot. Prior commercial uses have included a retail running store, hair salon, and attorney and engineering offices. Seller financing is available to a qualified buyer.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flagstaff
    County
    Coconino
    State
    Arizona
    Longitude
    -111.650135
    Latitude
    35.201336

    Nearby Similar for Sale

    • $2,525,000
      10,000 SF

      Freestanding Commercial Building in Flagstaff

      10,000 SF commercial building in high-traffic Flagstaff location.
      460 N Switzer Canyon Drive, Flagstaff, AZ 86001
      View Details
    • $4,900,000
      22,000 SF

      Mountain Resort with Western Charm

      280-acre resort with cabins, RV park, steakhouse, and more.
      1901 South Mormon Lake Rd, Flagstaff, AZ 86038
      View Details
    • $899,000

      Turnkey Equestrian Facility in Flagstaff

      10-acre horse property with arena, stalls, and stunning views.
      13170 STOCKMENS Road unit: 0, Flagstaff, AZ 86004
      View Details
    • $899,000

      Turnkey Equestrian Facility on 10 Acres

      10-acre Flagstaff horse property with arena, stalls, and storage.
      13170 Stockmens Road, Flagstaff, AZ 86004
      View Details
    • $925,000
      2,500 SF

      Historic Flagstaff Commercial Building

      Fully occupied, modernized historic building in Flagstaff's southside district.
      117 S San Francisco Street, Flagstaff, AZ 86001
      View Details
    • $7,500
      5,350 SF

      Downtown Flagstaff Restaurant/Bar Opportunity

      Rare restaurant/bar lease with rooftop patio in downtown Flagstaff.
      101 S San Francisco Street, Flagstaff, AZ 86001
      View Details
    • $1,850,000
      4,777 SF

      Historic Route 66 Landmark

      Iconic Flagstaff venue on Historic Route 66.
      3404 E Route 66, Flagstaff, AZ 86004
      View Details
    • $3,610
      1,604 SF

      Flagstaff Warehouse with Mezzanine Offices

      Flexible warehouse spaces with mezzanine offices in prime location.
      3111 N Caden Court unit: 150/160, Flagstaff, AZ 86004
      View Details
    • $305,000
      1,620 SF

      Flagstaff Luxury Storage Condo

      Luxury storage condo in Flagstaff's exclusive Boat/RV storage facility.
      5590 Dark Sky Drive unit: A103, Flagstaff, AZ 86001
      View Details
    • $3,300
      711 SF

      Professional Space Near Flagstaff Medical

      Remodeled medical/wellness space with shared amenities and convenient location.
      1300 N Rim Drive unit: A, Flagstaff, AZ 86001
      View Details
    • $1,950,000
      6,029 SF

      Downtown Flagstaff Commercial Flex Space

      6,000 SF commercial space in the heart of Flagstaff.
      417 W Santa Fe Avenue, Flagstaff, AZ 86001
      View Details
    • $600,000
      2,070 SF

      Flagstaff Multifamily with Income Potential

      Multifamily property in Flagstaff with income and flexible living.
      3260 Toho Trail, Flagstaff, AZ 86005
      View Details

    FAQs

    What type of property is this?
    Short term rental property - Updated income property in the heart of Historic Downtown Flagstaff.
    Where is this short term rental property located?
    The property is located at 309 N Humphreys Street Flagstaff, AZ.
    What is the asking price?
    The asking price for this property is $1,550,000.
    What are key features of this property?
    This property features: High‑profile corner lot location in the heart of Historic Downtown Flagstaff.; Income property with 3 fully furnished short‑term rentals (STRs) and 2 long‑term rentals.; Seller financing available to qualified buyer.
    (928) 699-1336
    We can help!
    Listing Contact
    Bruce Bourne
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!