Flexible Office
For Sale
$1,450,000
515 N Beaver St, Flagstaff, AZ 86001
Office property north of downtown with leased front space and additional rear-area flexibility.
Property Size4,052 SF
Price / SF$357.85
Days on Market39
Property Features for 515 N Beaver St
General Information
Standard status
Active
Size
4,052 SF
Building Details
Year Built
1986
Buildings
1
Listing Agency:
Coldwell Banker Northland
(928) 607-3749
Listed By:
Darien D Degher · License #SA640115000
Source:
Thebergaminigroup
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 29 at 3:54PM
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 Coldwell Banker Northland
Investment Insights
Based on property information with market context.
Built in 1986, this 4,052-square-foot office building is positioned north of downtown Flagstaff. The property includes a front section that is fully leased, providing an established occupancy component, along with a rear section that can accommodate additional owner or tenant use. This configuration supports separate occupied and available areas within one building.
The property is located on N Beaver St near downtown Flagstaff, with access to downtown amenities, major employment centers, and regional transportation corridors. Its layout offers a practical combination of existing tenancy and usable expansion capacity for an owner-user, investor, or mixed-occupancy arrangement.
The property is located on N Beaver St near downtown Flagstaff, with access to downtown amenities, major employment centers, and regional transportation corridors. Its layout offers a practical combination of existing tenancy and usable expansion capacity for an owner-user, investor, or mixed-occupancy arrangement.
Key Highlights
- 4,052‑square‑foot office building constructed in 1986
- Front portion is fully leased
- Rear section offers additional owner or tenant space
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
$55,891
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
3.85%
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%
$1,117,820
$1.1M
Cap Rate 7%
$798,443
$798.4K
Cap Rate 9%
$621,011
$621.0K
Market Conditions
NOI Build-Up for 4,052 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
$94.3K $23.28/SF
− Vacancy
−$19.8K −$4.89/SF
EGI
$74.5K $18.39/SF
− OpEx
−$18.6K −$4.60/SF
NOI
$55.9K $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%
$1,117,820
Cap Rate 7%
$798,443
Cap Rate 9%
$621,011
Alternative Uses
Best Use
Office B
$798.4K
$698.6K – $931.5K
NOI $55,891 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$980.2K – $1.31M
NOI $78,415 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,159
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
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Frequently Asked Questions
What type of property is this?
Office building - Office property north of downtown with leased front space and additional rear-area flexibility.
Where is this office building located?
The property is located at 515 N Beaver St Flagstaff, AZ.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 4,052‑square‑foot office building constructed in 1986; Front portion is fully leased; Rear section offers additional owner or tenant space
