$2,564,640
Flagstaff, AZ 86001
MLS# 193716
5343 sqft
1 / 5
Property Description
Stand alone retail building on desirable Milton Corridor in Flagstaff directly across from Northern Arizona University and The Jack, a 591 bed student housing apartment complex. This property has over 140 feet of frontage on Milton Rd. An additional 7,000 square feet of improvements could be developed on the property (buyer to verify with the City of Flagstaff). Building is 100% occupied by long-time tenants at below market rents. 7.5 % Cap Rate based upon projected market rents of $36.00 per square foot NNN. Landlord has the right to ''Buy Out'' upon sale of the property per the leases which would allow for buyer to bring rents to market rates. Location, Location, Location!
Details
Maps
Contract Info
List Price: $2,564,640
Current Price: $2,564,640
List Price/SqFt: 480
Property Sub-Type: Retail Building
Buyer Agency: 3
Buyer Agency Type: %
Co-Variable: No
Public Marketing Date: 2023-06-21
Location, Tax & Legal
County: Coconino
Region: 10 - North West City
Area: 157 - Milton Commercial
APN: 10037004a
Street #: 101
Direction: S
Street Name: Milton
Suffix: Road
City/Town Code: Flagstaff
State/Province: AZ
Zip Code: 86001
Cross Street: Milton and Tucson
Legal Description: SUBDIVISION: FLAGSTAFF TOWNSITE BLOCK: 1Y N 57 FT LOTS 17 TO 23 EXC THAT POR OF LOTS 21-23 DEEDED TO FLAGSTAFF IN BK 38
Zoned: HC
Taxes: 4072
Tax Year: 2022
Geo Lat: 35.196581
Geo Lon: -111.654953
Key Words
Sale/Rent: Sale
Net Op Inc: $100,000 - 499,999
Cap Rate: 1 - 7.9%
Down Payment: Submit
Imprv Sz (Gross SF): 5,000 - 11,999
#Tenants/Units: 1 - 4
Land Size: 0 - .4 AC
Trade/Exchange: Not Applicable
General Property Description
Dimensions: 124.56x57.15x117.75x57.54
Acres: 0.37
Year Built: 1966
Approx SqFt: 5343
Remarks & Misc
Directions: Property is located on the desirable Milton Road Corridor across from Northern Arizona University in Flagstaff, AZ. Walking distance to Northern Arizona University, multiple retailers, restaurants, bus and train stations, Downtown Flagstaff, and more!
Status Change Info
Status: Active
Location
Other: Milton Corridor
Property Features
To Show: CLO/KILO
Terms of Sale: Cash
Leases: Net
Util Pd by Tenant: Electricity; Janitorial; Nat. Gas; Snow Removal; Trash Collect; Water/Sewer
Docs on File: Leases; Legal Descrip.
Interior Amenities: Display Window; Floor Drains; Showroom
Exterior Amenities: Handic. Access
Occupancy: Totally Leased
Management: Owner
Construction: One Story; Masonry
Roof: Flat
Heating: Natural Gas
Cooling: Evaporative Cooling; Individual A/C Units
Utilities: City Water; Electric; Natural Gas; Sewer
Lot Street Imprvmnts: Curbs; Paved Parking; Sidewalks
Location: Corner Lot
Freeway Turn Time: 1-4 Min
Possession: COE +
Supplements
All 3 parcels
100-37-003B, 100-37-004A, & 100-37-005
Listing Office: da Vinci Realty
Last Updated: February - 21 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Copyright 2021 Northern Arizona Association of Realtors®. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.