Remodeled Medical Office
For Sale
$575,000
1300 N Rim Drive, Flagstaff, AZ 86001
Commercial Sale, Flagstaff, AZ
Property Size2,215 SF
Price / SF$259.59
Days on Market93
Property Features for 1300 N Rim Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Landscaped
Directions
180 N. Right on W Forest Ave. Right on N Rim Drive.
Subdivision
130 - NoHo
Standard status
Active
APN
10140001
Size
2,215 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Forest Hills Medical Condo Unit A (Part Of)
Tax Annual Amount
3804
Legal Description
Forest Hills Medical Condo Unit A (Part Of)
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
dedicated walking path
shared entry
waiting room
storage
Building Details
Year built
1982
Listing Agency:
Linton Real Estate
(928) 779-4411
Listed By:
Susan Weitzman · License #BR006602000
(928) 699-3499
Added: Jun 9
Changed: Sep 2
Last Checked: Sep 9 at 5:06PM
MLS# 204828
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.
This 2,215-square-foot medical office suite at 1300 N Rim Drive includes five offices and two bathrooms within a fully remodeled interior. Central heating and central air conditioning serve the space. A shared entrance, reception area, and storage are provided with the neighboring medical office; these common areas are separate from the stated square footage.
The suite connects to Flagstaff Medical Center through a dedicated pedestrian path, providing direct walkable access between the property and the medical campus. Built in 1982 and updated for medical or wellness use, the space combines private office areas with shared support facilities.
The suite connects to Flagstaff Medical Center through a dedicated pedestrian path, providing direct walkable access between the property and the medical campus. Built in 1982 and updated for medical or wellness use, the space combines private office areas with shared support facilities.
Key Highlights
- 2,215‑square‑foot medical office suite
- Five offices and two bathrooms
- Fully remodeled interior for medical or wellness use
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
$30,552
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
5.31%
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%
$611,040
$611.0K
Cap Rate 7%
$436,457
$436.5K
Cap Rate 9%
$339,467
$339.5K
Market Conditions
NOI Build-Up for 2,215 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
$51.6K $23.28/SF
− Vacancy
−$10.8K −$4.89/SF
EGI
$40.7K $18.39/SF
− OpEx
−$10.2K −$4.60/SF
NOI
$30.6K $13.79/SF
Area
Coconino County, AZ
Vacancy
21.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
25.00%
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%
$611,040
Cap Rate 7%
$436,457
Cap Rate 9%
$339,467
Alternative Uses
Best Use
Office B
$436.5K
$381.9K – $509.2K
NOI $30,552 @ 7.0% cap · market cap 5.31%
Second Best
Healthcare Medical
$383.4K
$335.5K – $447.3K
NOI $26,840 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$612.4K
$535.8K – $714.4K
NOI $42,865 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 86001, AZ
37,093
Population
15,364
Households
2.4
Avg Household Size
27
Median Age
55%
College-Educated
96%
High-School Grad
290.4 sq mi
ZIP Area
128
Density / Sq Mi
$62,587
Median Household Income
$24,346
Median Earnings
$1,505
Median Rent
$570,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Five private offices support medical and wellness-oriented operations in a professionally updated suite.
Where is this medical office space located?
The property is located at 1300 N Rim Drive Flagstaff, AZ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,215‑square‑foot medical office suite; Five offices and two bathrooms; Fully remodeled interior for medical or wellness use
