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    Flagstaff Office Space For Lease Title is generated by Realmo AI

    823 N San Francisco Street, Flagstaff, AZ 86001

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    For Lease
    $50,904 SF/Yr $8,997,282/Mo (calc)

    COMMERCIAL - Flagstaff, AZ

    Property size:
    2,121 SF
    Lot size:
    0.49 Acres
    Added:
    Apr 2, 2026
    Days on Market:
    44
    Last Refresh:
    May 15 at 10:06 am

    Property Features for 823 N San Francisco Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    RC
    Standard status
    Active
    APN
    10104001b
    Size
    2,121 SF
    Lot size
    0.49 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SUBDIVISION: MT ELDEN HEIGHTS ADD BLOCK: 93 LOT: 1 THRU:- LOT: 6 EXC BEG NE COR OF SAID LOT 1; TH S 21D01M W 15 FT; TH
    Tax Annual Amount
    37736

    Building Details

    Year built
    1985

    We can help!

    Listing Contact
    Mark T Belsanti
    Mark T Belsanti

    Listing agent Mark T Belsanti License #SA104226000

    Listing office da Vinci Realty 111 E Aspen Ave #3, Flagstaff, AZ

    Listing date Apr 2, 2026

    MLS# 203901

    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.

    HighLights

    • Prime location north of Historic Downtown Flagstaff, near key landmarks.
    • Functional layout featuring a glassed‑in reception, 3 offices, a conference area, and a large break room with sink.
    • 2121 SF of office space.
    • Convenient first‑floor access at the corner of San Francisco St. and Columbus Avenue.
    • Established building, constructed in 1985.
    • Two exam rooms equipped with sinks.

    Overview

    Available for lease is 2121 square feet of office space situated on the first floor of a building located at 823 North San Francisco Street, at the southwest corner of San Francisco Street and Columbus Avenue. The property is conveniently located just north of Historic Downtown Flagstaff, near Flagstaff Medical Center, courthouses, and City of Flagstaff Municipalities. The office space includes a glassed-in reception area, three offices, two exam rooms with sinks, a large break room with a sink, a conference room area, two bathrooms, and a storage room. The property is located in Flagstaff, Arizona, within Coconino County, and has a zoning designation of RC. The lot size is 0.49 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alchemie Academy LLC Business Service Center Flagstaff Neurosurgery PLLC Medical Clinic Dr. Brad Nicol, ... Physician Dr. Theodore H. ... Physician JLB Project Charitable Organization

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flagstaff
    County
    Coconino
    State
    Arizona
    Longitude
    -111.644608
    Latitude
    35.205346

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    FAQs

    What type of property is this?
    Office units - Office space for lease near downtown Flagstaff and Flagstaff Medical Center.
    Where is this office units located?
    The property is located at 823 N San Francisco Street Flagstaff, AZ.
    What is the lease rate?
    The lease rate is $50,904.
    What are key features of this property?
    This property features: Prime location north of Historic Downtown Flagstaff, near key landmarks.; Functional layout featuring a glassed‑in reception, 3 offices, a conference area, and a large break room with sink.; 2121 SF of office space.
    (928) 779-3800
    We can help!
    Listing Contact
    Mark T Belsanti
    Mark T Belsanti
    Real Estate License ID: SA104226000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    823 N San Francisco Street, Flagstaff, AZ 86001
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