500 N Beaver St, Flagstaff, AZ 86001

This is a classic Flagstaff Malapai rock home that has been converted into a commercial property. It is an attractive building located on a busy corner lot in an appealing neighborhood just north of downtown Flagstaff, Arizona. The CS (Commercial Service) liberal Zoning allows for a large number of commercial usages. The property could be extensively developed. The zoning also encourages commercial use with an owner-occupied residential area. It has two large open office spaces, two other office rooms, an appealing conference room, reception room, kitchenette, bathroom, and a small enclosed solarium like entry area. Most of the flooring is a beautifully refinished red oak. The property contains a large apple tree, three beautiful mature aspen trees, a garden area, and a rear covered patio. If converted back to all residential use, it could have 3 to 6 bedrooms and/or a large family or entertainment room. Exclusive use as a residence would require a special use permit from the city. This prime corner lot has parking for up to 12 vehicles with space to add more. There are about 7 adjacent street parking spaces. All utilities have new service to the building and all interior utilities have been upgraded. The entire building was completely remodeled in 2013. The property has new sidewalks and 2 newly paved front parking spaces. This is currently an income producing property with a great tenant. The lease terminates on April 1st, 2023. The tenant may be interested in a new lease agreement. This is an “owner seller” property who is willing to carry a note. Why the property should be considered a good purchase: 1. LOCATION: A location that is in high demand now and in the foreseeable future, and that has excellent visibility. a. Significant growth potential b. Demographics are stable and growing c. Near shops, public transportation, hospital, and many other facilities d. High real estate appreciation and increasing property value e. An area with near 100% high occupancy rate for all kinds of rental properties. f. Close to downtown 2. CONDITION & AMENITIES: a. Exceptional structural integrity b. Large lot size c. Corner lot d. New plumbing e. New electrical service inside and out f. New curbs, sidewalks, driveway, and city Beaver Street infrastructure utilities g. New total remodel 3. MAINTENANCE COSTS: The Malapai rock offers exceptionally low maintenance costs and there are minimum surfaces that would need to be painted in the future. 4. CURRENT TENANTS: Exceptional tenants that take care of the property without oversight, a stable company, reliable, and respected in the industry. 5. FLEXIBILITY: a. The Commercial Service zoning allows for many different usages to attract a variety of tenants b. Significant development options under the Commercial Service zone. c. Significant parking options, more so than most other commercial properties in the area. 6. CASH FLOW: Reasonable current short lease tenant cash flow OTHER CONSIDERATIONS • Rarely available scarce north downtown Flagstaff commercial property location • Liquidity o Most investors value properties that have greater liquidity. This property is more liquid than other local properties because it can be sold more quickly due to a larger audience of potential buyers • Parking for up to 12 vehicles with space to add more. There are about 7 adjacent street parking spaces. • Beautiful and appealing • Easy to find • High Demand for “Life Sciences” o Being near the largest hospital in Northern Arizona, there is great interest in the area for consumer healthcare services and new medical technology. o Health care services are being farmed out by the hospital to outpatient facilities. PROPERTY INFORMATION Flagstaff Prime Business Property FOR SALE by owner 500 N Beaver St Zoned CS, Commercial Service 2315 sq ft Property size is 75’ x 134’ Coconino County Parcel # 101-09-010