Commercial property with two standalone buildings on 1.63 acres of HC (Highway Commercial) zoned land. Subject property is located on Route 66 near the Milton Road corridor of Flagstaff, AZ. Building #1 is approximately 11,500 SF and is occupied by a single tenant, Goodwill Industries who has a lease expiration of 4/30/2023 but the tenant would consider vacating by 3/30/2022 . Building #2 is approximately 6,685 SF with a Veterinary Clinic occupying 2,593 SF with a lease expiration of 3/8/2022 and 4,092 SF of existing available space. There are 60 parking spaces. 7.26% Cap Rate based on proforma. You cannot buy a well-located property in Flagstaff and build for anywhere near $211 per SF due to cost of land and inflationary costs of development.
Courtesy of: Da Vinci Realty, LLC The ARMLS logo indicates a shared property that may be listed by a real estate brokerage other than the ARMLS. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Updated: 18th September, 2021 6:38 AM
Russ Lyon Sotheby’s International Realty20 Roadrunner Drive, Suite ASedona, AZ 86336
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