Historic Log
For Sale
$1,850,000
3404 East Route 66, Flagstaff, AZ 86004
National Register property with Highway Commercial zoning and a flexible venue layout along Historic Route 66.
Property Size4,777 SF
Days on Market194
Property Features for 3404 East Route 66
General Information
Standard status
Active
Size
4,777 SF
Property subtype
Street Retail
Building Details
Building Size
4,777 SF
Year Built
1929
Listing Agency:
da Vinci Realty, LLC
(928) 254-1770
Listed By:
Mark T. Belsanti · License #SA104226000
(928) 254-1770
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 5:27PM
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 da Vinci Realty, LLC
Investment Insights
Based on property information with market context.
This 4,777-square-foot tavern occupies a 1.42-acre parcel at 3404 East Route 66 in Flagstaff. The property is listed on the National Register of Historic Places and features substantial log construction with rustic interior character. Its documented history includes use as a saloon, dance hall, and live music venue.
The site is zoned Highway Commercial and includes the Museum Club trade name, furniture, fixtures, equipment, and historic signage. The property can support continued tavern or entertainment use, with stated possibilities including a restaurant, event space, brewery, or live venue. Its Route 66 setting places the asset near downtown Flagstaff, the Museum of Northern Arizona, and Walnut Canyon National Monument.
The site is zoned Highway Commercial and includes the Museum Club trade name, furniture, fixtures, equipment, and historic signage. The property can support continued tavern or entertainment use, with stated possibilities including a restaurant, event space, brewery, or live venue. Its Route 66 setting places the asset near downtown Flagstaff, the Museum of Northern Arizona, and Walnut Canyon National Monument.
Key Highlights
- 4,777 SF tavern on a 1.42‑acre parcel
- Listed on the National Register of Historic Places
- Highway Commercial zoning
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
$70,347
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
3.80%
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%
$1,406,940
$1.4M
Cap Rate 7%
$1,004,957
$1.0M
Cap Rate 9%
$781,633
$781.6K
Market Conditions
NOI Build-Up for 4,777 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
$100.3K $21.00/SF
− Vacancy
−$6.5K −$1.37/SF
EGI
$93.8K $19.64/SF
− OpEx
−$23.4K −$4.91/SF
NOI
$70.3K $14.73/SF
Area
Coconino County, AZ
Vacancy
6.50%
Lease Rate
$21.00 /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%
$1,406,940
Cap Rate 7%
$1,004,957
Cap Rate 9%
$781,633
Alternative Uses
Best Use
Specialty Retail
$1.00M
$879.3K – $1.17M
NOI $70,347 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,446 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
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 Retail 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?
Bar & Pub - National Register property with Highway Commercial zoning and a flexible venue layout along Historic Route 66.
Where is this bar & pub located?
The property is located at 3404 East Route 66 Flagstaff, AZ.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 4,777 SF tavern on a 1.42‑acre parcel; Listed on the National Register of Historic Places; Highway Commercial zoning
