Medical Office Near Flagstaff
For Sale
$549,000
1360 N Rim Drive, Flagstaff, AZ 86001
COMMERCIAL - Flagstaff, AZ
Property Size1,639 SF
Lot Size0.04 Acres
Price / SF$334.96
Days on Market94
Property Features for 1360 N Rim Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Hwy 180 to Forest Dr Right on RIm Dr
Subdivision
130 - NoHo
Standard status
Active
APN
10101001n
Size
1,639 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
SIXTEENTH: NW QUARTER: NW SECTION: 15 TOWNSHIP: 21N RANGE: 07E FOREST MEDICAL CENTER PARCEL B ACCORDING TO RECORD OF SUR
Tax Annual Amount
4702
Legal Description
SIXTEENTH: NW QUARTER: NW SECTION: 15 TOWNSHIP: 21N RANGE: 07E FOREST MEDICAL CENTER PARCEL B ACCORDING TO RECORD OF SUR
Utilities
Utilities
Natural Gas Available
Heating system
Central
Building Details
Roof type
Asphalt
Listing Agency:
National Flagstaff Connection
(928) 526-3737
Listed By:
Katharine L Haley
(928) 853-1796
Added: May 20
Changed: Aug 4
Last Checked: Aug 21 at 10:06PM
MLS# 204595
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 commercial property is a professional medical office building offering convenient access to Flagstaff Medical Center. The space measures 1639 square feet and includes a front reception area with a brightly lit waiting area. It features 4 separate exam rooms, a lab/break room area, and a private office area with a private access door. The property also includes 2 half baths. The lot size is 0.04 acres. The property is located in Flagstaff, Arizona, in the 86001 postal code area.
Key Highlights
- Convenient access to Flagstaff Medical Center
- Professional medical office building
- Four separate exam rooms
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
$22,607
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
4.12%
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%
$452,140
$452.1K
Cap Rate 7%
$322,957
$323.0K
Cap Rate 9%
$251,189
$251.2K
Market Conditions
NOI Build-Up for 1,639 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
$38.2K $23.28/SF
− Vacancy
−$8.0K −$4.89/SF
EGI
$30.1K $18.39/SF
− OpEx
−$7.5K −$4.60/SF
NOI
$22.6K $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%
$452,140
Cap Rate 7%
$322,957
Cap Rate 9%
$251,189
Alternative Uses
Best Use
Office B
$323.0K
$282.6K – $376.8K
NOI $22,607 @ 7.0% cap · market cap 4.12%
Second Best
Healthcare Medical
$283.7K
$248.3K – $331.0K
NOI $19,861 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$453.1K
$396.5K – $528.6K
NOI $31,718 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional medical office building with convenient access to medical center.
Where is this medical office space located?
The property is located at 1360 N Rim Drive Flagstaff, AZ.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Convenient access to Flagstaff Medical Center; Professional medical office building; Four separate exam rooms
