Gas Station with Commercial
For Sale
$749,000
31926 N Us Highway 89, Flagstaff, AZ 86004
Commercial Sale, Flagstaff, AZ
Property Size5,283 SF
Lot Size13.33 Acres
Price / SF$141.78
Days on Market21
Property Features for 31926 N Us Highway 89
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Head North on HWY 89 A From Flagstaff 27 miles. Property will be on the West Side of 89A
Subdivision
99 - Other Cities/Areas
Standard status
Active
APN
30216001
Size
5,283 SF
Lot size
13.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lengthy, to be provided in escrow
Tax Annual Amount
2206
Legal Description
Lengthy, to be provided in escrow
Utilities
Utilities
Propane
Cooling system
Evaporative Cooling
Amenities
walk-in cooler
on-site mobile home
bar seating
public restrooms
storage area
dedicated office
commercial kitchen
employee restroom
additional room
signage
Building Details
Roof type
Asphalt
Listing Agency:
Russ Lyon Sothebys Intl Realty · Sotheby's International Realty
(928) 779-5966
Listed By:
Ty Van Dyke · License #SA651983000
(928) 699-9707
Added: Aug 3
Changed: Aug 19
Last Checked: Aug 23 at 3:06PM
MLS# 205519
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.
Established in 1959, this gas station occupies a 13.33-acre commercial parcel along US Highway 89. The 5,283-square-foot property includes ADEQ-registered underground fuel tanks with dispensers serving Regular, Premium, and Diesel fuel. Evaporative cooling, an asphalt roof, and propane service are also present.
The improvements combine convenience retail space with a walk-in cooler, a saloon with bar seating, two public restrooms, a commercial kitchen, an employee restroom, office space, storage, and an additional room. An on-site mobile home is included among the property features. The expansive parking area accommodates cars, RVs, buses, and large commercial vehicles. A Class 6 Liquor License is included, while all FF&E will transfer through a separate bill of sale.
The property is positioned on the highway route connecting Flagstaff and Page, with the source information citing more than 3.9 million annual travelers. The parcel also includes space identified for potential future expansion, including EV charging stations, boat storage, RV park use, hay sales, Jeep tours, food trucks, outdoor dining, or specialty retail.
The improvements combine convenience retail space with a walk-in cooler, a saloon with bar seating, two public restrooms, a commercial kitchen, an employee restroom, office space, storage, and an additional room. An on-site mobile home is included among the property features. The expansive parking area accommodates cars, RVs, buses, and large commercial vehicles. A Class 6 Liquor License is included, while all FF&E will transfer through a separate bill of sale.
The property is positioned on the highway route connecting Flagstaff and Page, with the source information citing more than 3.9 million annual travelers. The parcel also includes space identified for potential future expansion, including EV charging stations, boat storage, RV park use, hay sales, Jeep tours, food trucks, outdoor dining, or specialty retail.
Key Highlights
- 13.33‑acre commercial parcel along US Highway 89
- 5,283‑square‑foot building with convenience retail, saloon, kitchen, office, storage, and restrooms
- ADEQ‑registered underground fuel tanks with Regular, Premium, and Diesel dispensers
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,899
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,277,980
$1.3M
Cap Rate 7%
$912,843
$912.8K
Cap Rate 9%
$709,989
$710.0K
Market Conditions
NOI Build-Up for 5,283 SF
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.
Gross rent
$97.6K $18.48/SF
− Vacancy
−$6.3K −$1.20/SF
EGI
$91.3K $17.28/SF
− OpEx
−$27.4K −$5.18/SF
NOI
$63.9K $12.10/SF
Area
Coconino County, AZ
Vacancy
6.50%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,277,980
Cap Rate 7%
$912,843
Cap Rate 9%
$709,989
Alternative Uses
Best Use
Specialty Retail
$1.11M
$972.5K – $1.30M
NOI $77,799 @ 7.0% cap · market cap 10.39%
Second Best
Retail
$912.8K
$798.7K – $1.06M
NOI $63,899 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,238 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 86004, AZ
38,451
Population
16,550
Households
2.3
Avg Household Size
37
Median Age
44%
College-Educated
95%
High-School Grad
914.5 sq mi
ZIP Area
42
Density / Sq Mi
$77,486
Median Household Income
$42,659
Median Earnings
$1,611
Median Rent
$464,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Fueling operation with convenience retail, hospitality space, expansive vehicle parking, and additional commercial areas.
Where is this gas station located?
The property is located at 31926 N Us Highway 89 Flagstaff, AZ.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 13.33‑acre commercial parcel along US Highway 89; 5,283‑square‑foot building with convenience retail, saloon, kitchen, office, storage, and restrooms; ADEQ‑registered underground fuel tanks with Regular, Premium, and Diesel dispensers
