Mixed-Use Property with Salon
For Sale
$525,000
2721 N West Street, Flagstaff, AZ 86004
Commercial and residential zoning supports a flexible live-work configuration with existing salon improvements.
Property Size1,775 SF
Price / SF$295.77
Days on Market11
Property Features for 2721 N West Street
General Information
Standard status
Active
Size
1,775 SF
Property subtype
Commercial
Zoning
Res/Comm
Taxes and HOA fees
Annual Taxes
$1,992
Building Details
Building Size
1,775 SF
Year Built
1961
Buildings
1
Stories
1
Listing Agency:
Skysbright Realty
(928) 310-0994
Listed By:
Lisa A Aird · License #BR546774000
(928) 310-0994
Source:
Aznewhorizonrealty
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 28 at 4:03PM
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 Skysbright Realty
Investment Insights
Based on property information with market context.
This 1,775-square-foot mixed-use property, built in 1961, combines commercial and residential functionality within one adaptable layout. The front portion was previously used as a salon and retains one salon station, while the rear portion has served as a residence. Updated flooring runs throughout the property, and a bonus room adds flexible interior space for storage, office use, laundry, hobbies, or another room configuration.
Exterior features include a yard and two storage sheds, one of which has been used as a workshop. The property is zoned for both commercial and residential use, supporting a range of live-work arrangements. An electric or gas dryer hookup is also present.
Exterior features include a yard and two storage sheds, one of which has been used as a workshop. The property is zoned for both commercial and residential use, supporting a range of live-work arrangements. An electric or gas dryer hookup is also present.
Key Highlights
- 1,775‑square‑foot mixed‑use property built in 1961
- Zoned for both commercial and residential use
- Front portion previously operated as a salon
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
$24,483
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
4.66%
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%
$489,660
$489.7K
Cap Rate 7%
$349,757
$349.8K
Cap Rate 9%
$272,033
$272.0K
Market Conditions
NOI Build-Up for 1,775 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
$41.3K $23.28/SF
− Vacancy
−$8.7K −$4.89/SF
EGI
$32.6K $18.39/SF
− OpEx
−$8.2K −$4.60/SF
NOI
$24.5K $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%
$489,660
Cap Rate 7%
$349,757
Cap Rate 9%
$272,033
Alternative Uses
Best Use
Office B
$349.8K
$306.0K – $408.1K
NOI $24,483 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$306.7K
$268.4K – $357.8K
NOI $21,469 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$490.7K
$429.4K – $572.5K
NOI $34,350 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,213
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential zoning supports a flexible live-work configuration with existing salon improvements.
Where is this mixed-use property located?
The property is located at 2721 N West Street Flagstaff, AZ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,775‑square‑foot mixed‑use property built in 1961; Zoned for both commercial and residential use; Front portion previously operated as a salon
