Mixed-Use Property with
New
For Sale
$525,000
2721 N West Street, Flagstaff, AZ 86004
Commercial Sale, Flagstaff, AZ
Property Size1,775 SF
Lot Size0.14 Acres
Price / SF$295.77
Days on Market4
Property Features for 2721 N West Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Cedar Avenue to West Street. Go South to House on Right.
Subdivision
400 - Sunnyside
Standard status
Active
APN
10910124
Size
1,775 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUBDIVISION: SUNNYSIDE NORTH ANNEX UNIT 11 LOT: 18 SIXTEENTH: NW QUARTER: SE SECTION: 11 TOWNSHIP: 21N RANGE: 07E
Tax Annual Amount
1992
Legal Description
SUBDIVISION: SUNNYSIDE NORTH ANNEX UNIT 11 LOT: 18 SIXTEENTH: NW QUARTER: SE SECTION: 11 TOWNSHIP: 21N RANGE: 07E
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Heat Pump (Heating)
Building Details
Year built
1961
Roof type
Asphalt
Listing Agency:
Skysbright Realty
(928) 310-0994
Listed By:
Lisa A Aird · License #BR546774000
(928) 310-0994
Added: Aug 19
Last Checked: Aug 22 at 3:06AM
MLS# 205714
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 1,775-square-foot mixed-use property combines a former salon area with residential space in a 1961-built structure. The front section retains one salon station, while the rear portion has served as a residence. A bonus room adds flexible interior capacity for office, laundry, hobby, or bedroom use. Updated flooring contributes to the current condition, and the property includes a yard with two storage sheds, one of which may function as a workshop.
Located in Flagstaff, the property occupies a 0.14-acre lot and has natural gas available, along with natural gas and heat pump heating. The asphalt roof completes the existing improvements. Commercial and residential zoning allows the property to support business operations, residential occupancy, or a combination of both, subject to applicable requirements.
Located in Flagstaff, the property occupies a 0.14-acre lot and has natural gas available, along with natural gas and heat pump heating. The asphalt roof completes the existing improvements. Commercial and residential zoning allows the property to support business operations, residential occupancy, or a combination of both, subject to applicable requirements.
Key Highlights
- Commercial and residential zoning supports a live‑work configuration
- 1,775‑square‑foot property on a 0.14‑acre lot
- Former salon area retains one salon station
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
Mixed Use
$292.9K
$256.3K – $341.7K
NOI $20,501 @ 7.0% cap · market cap 3.90%
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
Property Profile
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 combined live-work configuration with adaptable interior space and outdoor storage.
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: Commercial and residential zoning supports a live‑work configuration; 1,775‑square‑foot property on a 0.14‑acre lot; Former salon area retains one salon station
