Commercial Real Estate Market in Flagstaff, AZ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
243 active listings and 2,006 off-market properties in Flagstaff, AZ. Commercial property asks $84/SF to buy and $65.03/SF/Yr to lease.
Market Trends
Flagstaff, AZ spans 2,494.6 square miles in Coconino County, Arizona. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Flagstaff, AZ asks $233/SF to buy. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Retail
Retail space in Flagstaff, AZ asks $195/SF to buy. Vacancy runs 5.8% across the West region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Industrial
Industrial vacancy in Flagstaff, AZ runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Flagstaff, AZ asks $315/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Open space 42.3%
- Residential 38.1%
- Civic 6.8%
- Commercial 4.8%
- Planned_development 4.5%
- Industrial 3.6%
Largest Zones share of zoned land by district
Public Lands Forest
Rural Residential
Single Family Residential
Public Open Space
Public Facility
Flagstaff, AZ zones 39,516 acres across 24 districts. Commercial zoning covers 4.8% of zoned land, residential 38.1%, open space 42.3% and industrial 3.6%. The largest single district is Public Lands Forest at 33.8%. For commercial buyers the practical constraint is that only 8.4% of land carries a commercial or industrial designation.
Public Lands Forest (PLF)
The Public Lands Forest PLF zone applies to Coconino National Forest lands currently subject to the jurisdiction of the US Forest Service USFS, This zone is intended to promote the management and preservation of habitat types and open space which is a part of the unique environmental characteristics of the City All uses are subject to the provisions of appli…
Market overview
Demographics & Economy
Flagstaff, AZ has 99,697 residents in 48,247 households. Density runs 40 people per square mile. Median household income here is $72,872 and median gross rent $1,540 a month.
99,697
Population
48,247
Households
2.1
Avg Household Size
30
Median Age
51%
College-Educated
96%
High-School Grad
2494.6 sq mi
ZIP Area
40
Density / Sq Mi
$72,872
Median Household Income
$34,812
Median Earnings
$1,540
Median Rent
$520,354
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Flagstaff?
Commercial property in Flagstaff, AZ asks an average of $84 per square foot. The 6 most recent recorded sales traded at a median of $461/SF. Multifamily carries the highest asking price at $315/SF.
How much does it cost to lease commercial space in Flagstaff?
Asking lease rates in Flagstaff, AZ average $65.03 per square foot per year.
What zoning applies to commercial property in Flagstaff?
Flagstaff, AZ zones 39,516 acres across 24 districts, of which 4.8% is commercial and 3.6% industrial. The largest single district is Public Lands Forest at 33.8% of zoned land. The Public Lands Forest PLF zone applies to Coconino National Forest lands currently subject to the jurisdiction of the US Forest Service USFS, This zone is intended to promote the management and preservation of habitat types and open space which is a part of the unique environmental characteristics of the City All uses are subject to the provisions of appli… Residential zoning covers 38.1% and open space 42.3%.
Where does Realmo's Flagstaff market data come from?
Realmo compiles Flagstaff, AZ figures from 6 recent recorded sales, 204 active sale listings, 39 active lease listings, 2,006 tracked off-market properties, the current Flagstaff zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 204 active for-sale and 39 active for-lease listings in Flagstaff, AZ. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 39,516 zoned acres across 24 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
