Retail Space Near Interstate
For Sale
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2212 E Cedar Avenue, Flagstaff, AZ 86004
Retail space near Interstate 40, downtown Flagstaff, and Northern Arizona University.
Property Size2,727 SF
Price / SF$278
Days on Market59
Property Features for 2212 E Cedar Avenue
General Information
Standard status
Active
Size
2,727 SF
Property subtype
Retail
Zoning
Community Commercial
Investment Type
Owner/User
Site & Location
Traffic Count
55,073 vehicles/day
Highway Access
Yes
Additional Details
Asking Price
$758,106
Building Details
Year Built
1975
Buildings
1
Listing Agency:
Cushman & Wakefield - Phoenix, Arizona
Listed By:
Shane Carter · License #SA673156000
(602) 954-9000
Source:
Crexi
Added: Jul 14
Changed: Sep 9
Last Checked: Sep 10 at 8:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - Phoenix, Arizona
Investment Insights
Based on property information with market context.
Located at 2212 E Cedar Ave in Flagstaff, this 2,727-square-foot retail space offers a defined commercial footprint for retail operations. The property is approximately 5 miles from Northern Arizona University, with a campus community exceeding 28,000 students plus thousands of faculty and staff.
Downtown Flagstaff is less than 3 miles away, providing access to restaurants, breweries, retail, entertainment, and year-round community events. Interstate 40 is conveniently accessible and carries approximately 55,073 vehicles per day. Average household incomes within a 3-mile radius exceed $105,000.
Downtown Flagstaff is less than 3 miles away, providing access to restaurants, breweries, retail, entertainment, and year-round community events. Interstate 40 is conveniently accessible and carries approximately 55,073 vehicles per day. Average household incomes within a 3-mile radius exceed $105,000.
Key Highlights
- 2,727‑square‑foot retail space at 2212 E Cedar Ave
- Approximately 5 miles from Northern Arizona University
- Less than 3 miles from Downtown Flagstaff
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
$32,984
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
4.35%
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%
$659,680
$659.7K
Cap Rate 7%
$471,200
$471.2K
Cap Rate 9%
$366,489
$366.5K
Market Conditions
NOI Build-Up for 2,727 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
$50.4K $18.48/SF
− Vacancy
−$3.3K −$1.20/SF
EGI
$47.1K $17.28/SF
− OpEx
−$14.1K −$5.18/SF
NOI
$33.0K $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%
$659,680
Cap Rate 7%
$471,200
Cap Rate 9%
$366,489
Alternative Uses
Best Use
Retail
$471.2K
$412.3K – $549.7K
NOI $32,984 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$753.9K
$659.7K – $879.6K
NOI $52,774 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
55,073 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
102k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Groceries 33%
Dining 19%
Electronics 2%
Safeway
Groceries
33,348 visits/mo
0.3 miles
Dollar Tree
Shops & Services
14,718 visits/mo
0.2 miles
SONIC Drive In
Dining
11,824 visits/mo
0.4 miles
Wells Fargo
Shops & Services
11,276 visits/mo
0.3 miles
Safeway Gas
Shops & Services
9,983 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space near Interstate 40, downtown Flagstaff, and Northern Arizona University.
Where is this retail space located?
The property is located at 2212 E Cedar Avenue Flagstaff, AZ.
What is the asking price?
The asking price for this property is $758,106.
What are key features of this property?
This property features: 2,727‑square‑foot retail space at 2212 E Cedar Ave; Approximately 5 miles from Northern Arizona University; Less than 3 miles from Downtown Flagstaff
