Second-Story Office Unit with
For Sale
$350,000
1600 W University Avenue, Flagstaff, AZ 86001
COMMERCIAL - Flagstaff, AZ
Property Size1,027 SF
Price / SF$340.80
Days on Market8
Property Features for 1600 W University Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Landscaped
Directions
S. Woodlands Village Blvd, west on University, condo is a second level suite located within the Ponderosa Park Business Center on the northwest corner of W. University and S. Thompson.
Subdivision
170 - Boulder Pointe
Standard status
Active
APN
11266022
Size
1,027 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Provided in escrow
Tax Annual Amount
2955
Legal Description
Provided in escrow
Utilities
Utilities
Electricity Available
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Amenities
private balcony
Building Details
Year built
2007
Floors in Building
2
Roof type
Asphalt
Listing Agency:
Coldwell Banker Northland · Coldwell Banker Real Estate
(928) 526-5309
Listed By:
Darien D Degher · License #SA640115000
(928) 607-3749
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 12 at 7:06PM
MLS# 205631
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 1,027-square-foot office unit occupies the second story and includes a private balcony, multiple offices, a reception and waiting area, and supporting workspace. An ADA bathroom is provided, with elevator access through the common area. The suite also contains a larger self-contained office area with its own entrance and bathroom, giving the configuration distinct private work areas within the unit.
Located at 1600 W University Avenue in Flagstaff, the property is part of Ponderosa Park Business Center in the Woodlands Village commercial corridor. Built in 2007, the office has central air conditioning and electric heating, with electricity available. An asphalt roof serves the building.
Located at 1600 W University Avenue in Flagstaff, the property is part of Ponderosa Park Business Center in the Woodlands Village commercial corridor. Built in 2007, the office has central air conditioning and electric heating, with electricity available. An asphalt roof serves the building.
Key Highlights
- 1,027‑square‑foot second‑story office unit with private balcony
- Multiple private offices plus reception, waiting, and support areas
- Larger self‑contained office area with separate entrance and bathroom
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
$14,166
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
4.05%
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%
$283,320
$283.3K
Cap Rate 7%
$202,371
$202.4K
Cap Rate 9%
$157,400
$157.4K
Market Conditions
NOI Build-Up for 1,027 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
$23.9K $23.28/SF
− Vacancy
−$5.0K −$4.89/SF
EGI
$18.9K $18.39/SF
− OpEx
−$4.7K −$4.60/SF
NOI
$14.2K $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%
$283,320
Cap Rate 7%
$202,371
Cap Rate 9%
$157,400
Alternative Uses
Best Use
Office B
$202.4K
$177.1K – $236.1K
NOI $14,166 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.9K
$248.4K – $331.3K
NOI $19,875 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
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?
Office units - Flexible professional layout includes private offices, reception space, and ADA-accessible common-area elevator service.
Where is this office units located?
The property is located at 1600 W University Avenue Flagstaff, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,027‑square‑foot second‑story office unit with private balcony; Multiple private offices plus reception, waiting, and support areas; Larger self‑contained office area with separate entrance and bathroom
