Freestanding Office
For Sale
$2,400,000
460 N Switzer Canyon Drive, Flagstaff, AZ 86001
COMMERCIAL - Flagstaff, AZ
Property Size10,000 SF
Lot Size0.69 Acres
Price / SF$240
Days on Market154
Property Features for 460 N Switzer Canyon Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security System
Directions
From E. Route 66, north on N. Switzer Canyon Dr, property is on the right side.
Subdivision
135 - Switzer Mesa
Standard status
Active
APN
10125002
Size
10,000 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Provided in escrow
Tax Annual Amount
10928
Legal Description
Provided in escrow
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Central
Cooling system
Gas (Cooling), Central Air
Building Details
Year built
1975
Roof type
Flat, Built-Up
Listing Agency:
Coldwell Banker Northland · Coldwell Banker Real Estate
(928) 526-5309
Listed By:
Darien D Degher · License #SA640115000
(928) 607-3749
Added: Mar 16
Changed: Aug 4
Last Checked: Aug 16 at 4:06PM
MLS# 203696
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.
Freestanding commercial office building offering 10,000 square feet on a 0.69-acre site. The building was built in 1975 and features a flat, built-up roof. Interior configuration is described as flexible, supporting efficient single-tenant occupancy and also providing potential for subdivision to adapt to changing needs. Heating is central and fueled by natural gas, and cooling is provided via central air with gas cooling. Natural gas is listed as available, and the property includes convenient on-site parking.
Located at 460 N Switzer Canyon Drive in Flagstaff, Arizona, the building sits along a mixed-use corridor described as highly trafficked. The property is zoned Highway Commercial, making it suitable for a range of uses including medical, professional services, retail, or specialty commercial users. The prominent frontage along a major thoroughfare is positioned to support visibility and day-to-day accessibility.
With its freestanding identity, zoning flexibility, and functional layout, the property can be considered for long-term owner-user control or as an investment that can align with evolving tenant demand in the corridor.
Located at 460 N Switzer Canyon Drive in Flagstaff, Arizona, the building sits along a mixed-use corridor described as highly trafficked. The property is zoned Highway Commercial, making it suitable for a range of uses including medical, professional services, retail, or specialty commercial users. The prominent frontage along a major thoroughfare is positioned to support visibility and day-to-day accessibility.
With its freestanding identity, zoning flexibility, and functional layout, the property can be considered for long-term owner-user control or as an investment that can align with evolving tenant demand in the corridor.
Key Highlights
- 10,000 SF freestanding office building on 0.69 acres
- Zoned Highway Commercial
- Flexible floor plan for single‑tenant occupancy or potential subdivision
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
$137,934
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
5.75%
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%
$2,758,680
$2.8M
Cap Rate 7%
$1,970,486
$2.0M
Cap Rate 9%
$1,532,600
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$232.8K $23.28/SF
− Vacancy
−$48.9K −$4.89/SF
EGI
$183.9K $18.39/SF
− OpEx
−$46.0K −$4.60/SF
NOI
$137.9K $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%
$2,758,680
Cap Rate 7%
$1,970,486
Cap Rate 9%
$1,532,600
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,934 @ 7.0% cap · market cap 5.75%
Second Best
Healthcare Medical
$1.73M
$1.51M – $2.02M
NOI $121,176 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$2.76M
$2.42M – $3.23M
NOI $193,523 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,055
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Zoned Highway Commercial with central gas heating and central air cooling in a freestanding building.
Where is this office building located?
The property is located at 460 N Switzer Canyon Drive Flagstaff, AZ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 10,000 SF freestanding office building on 0.69 acres; Zoned Highway Commercial; Flexible floor plan for single‑tenant occupancy or potential subdivision
