Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1840 Jasper Dr Flagstaff, AZ 86001-1634

    • Medical offices
    • 2.62 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2022
    $17,170,000
    Value Estimations
    $16,530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2549283
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 1840 Jasper Dr

    Lot size
    2.62 lot acres
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    101-46-011
    APU
    10146011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $20,955,000
      ML approach
      $10,835,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Flagstaff
    County
    Coconino
    State
    Arizona
    Longitude
    -111.632
    Latitude
    35.2094
    CBSA code
    22380
    CBSA name
    FLAGSTAFF, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $104,765
    $124,719
    $1,500,604
    $1,625,323
    -
    $755,873
    $9,094,567
    $9,850,440

    Comparable in this City

    • Value Estimation by Request
      998 SF

      710 Beaver St Bldg, Unit 4

      MEDICAL CLINIC • 998 SF
      710 Beaver St Bldg, Flagstaff, AZ 86001-3139
      View Details
    • Value Estimation
      $575,000
      1,995 SF

      710 Beaver St Bldg, Unit 3

      MEDICAL CLINIC • 1,995 SF
      710 Beaver St Bldg, Flagstaff, AZ 86001-3147
      View Details
    • Value Estimation
      $710,000
      1,970 SF

      608 Humphreys St

      MEDICAL CLINIC • 1,970 SF
      608 Humphreys St, Flagstaff, AZ 86001-3024
      View Details
    • Value Estimation by Request
      1,639 SF

      1360 Rim Dr

      MEDICAL CLINIC • 1,639 SF
      1360 Rim Dr, Flagstaff, AZ 86001-3111
      View Details
    • Value Estimation
      $1,065,000
      5,468 SF

      1024 San Francisco St

      MEDICAL CLINIC • 5,468 SF
      1024 San Francisco St, Flagstaff, AZ 86001-3266
      View Details
    • Value Estimation
      $1,990,000
      11,920 SF

      1030 San Francisco St

      MEDICAL CLINIC • 11,920 SF
      1030 San Francisco St, Flagstaff, AZ 86001-3252
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12.71 Acres

      Flagstaff Industrial Land - 12.71 Acres

      Prime Flagstaff location, mixed-use potential, freeway access.
      1600 Butler Ave, Flagstaff, AZ 86001
      View Details
    • $350,000
      714 SF

      Ponderosa Park Executive Office

      Flagstaff Executive Office, Vacant, $350K
      1600 University Dr, Flagstaff, AZ 86001
      View Details
    • New
      $1,650,000
      3,648 SF

      Historic Downtown Flagstaff Income Property

      Updated income property in the heart of Historic Downtown Flagstaff.
      309 N Humphreys St, Flagstaff, AZ 86001
      View Details
    • $1,000,000
      3 SF

      Flagstaff Commercial Investment Opportunity

      Prime commercial space in Flagstaff with high visibility and flexibility.
      207 S Beaver St, Flagstaff, AZ 86001
      View Details
    • Contact for pricing
      2,319 SF

      Downtown Flagstaff Retail Space

      Prime Commercial Location, 2319 SF Available
      123 Birch Ave, Flagstaff, AZ 86001
      View Details
    • Contact for pricing
      2,152 SF

      Flagstaff Commercial Space For Lease

      Prime Location, Versatile Space, Sublease Available
      1585 Plaza Way, Flagstaff, AZ 86001
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      6,149 SF

      Flagstaff Office Space Available

      Flexible office solutions in prime location.
      0 University Ave, Flagstaff, AZ 86001
      View Details
    • $24 SF/Yr
      16,000 SF

      The Standard: Flagstaff Office Space

      Prime Flagstaff Office, Retail, Restaurant
      824 Route 66, Flagstaff, AZ 86001
      View Details
    • $26 SF/Yr
      19,114 SF

      Flagstaff Medical Office Suite 140

      1,281 SF Medical Office Space Available
      1750 Woodlands Village Blvd, Flagstaff, AZ 86001
      View Details
    • $24 SF/Yr
      2,516 SF

      LIB SQ Office Suites, Flagstaff, AZ

      Prime Flagstaff Medical Office Space
      914 San Francisco St, Flagstaff, AZ 86001
      View Details
    • $5,940 /Mo
      5,300 SF

      111 Aspen Ave

      Coworking space • 5,300 SF
      111 Aspen Ave, Flagstaff, AZ 86001
      View Details
    • $24 SF/Yr
      4,604 SF

      Route 66 Office/Retail Space

      New Construction, Prime Location, High Traffic
      800 Route 66, Flagstaff, AZ 86001
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1840 Jasper Dr
    Flagstaff, AZ 86001-1634
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.