$890,000
Flagstaff, AZ 86001
MLS# 204589
2422 sqft
1 / 5
Property Description
Exceptional redevelopment opportunity in the heart of Old Town Flagstaff. Positioned on a Highway Commercial-zoned parcel in a high-demand location near NAU, established residential neighborhoods, and key transportation corridors, this property presents a rare opportunity for developers, investors, and builders seeking future density potential in a rapidly evolving area. The primary value lies in the land, zoning flexibility, and ongoing entitlement efforts. Sellers are currently pursuing entitlement pathways that may allow for preservation of the existing residence while adding 5 townhomes, or alternatively redevelopment of the site for up to 8 townhomes (buyer to independently verify zoning, density, entitlements, permitted uses, and municipal approvals). See additional comments...
Details
Maps
Contract Info
Status: Active
Public Marketing Date: 2026-05-18
List Price: $890,000
Current Price: $890,000
List Price/SqFt: 367.46
For Lease YN: No
Owner/Agent: No
Property Sub-Type: Commercial Mix Use
Location Tax Legal
County: Coconino
Area: 150 - Flagstaff Old Town
Street #: 823
Direction: W
Street Name: Clay
Suffix: Avenue
City/Town Code: Flagstaff
State/Province: AZ
Zip Code: 86001
Geo Lat: 35.195578
Geo Lon: -111.660401
Key Words
Sale/Rent Description: Sale
Net Op Inc: CLO
Cap Rate: CLO
Down Payment: Submit
Imprv Sz (Gross SF): 2,000 - 4,999
#Tenants/Units: 1 - 4
Land Size: 0 - .4 AC
Trade/Exchange: Submit
General Property Description
Acres: 0.3
Grnd Lease Amt $: 13400
Year Built: 1935
Approx SqFt: 2422
To Show
Other: 928-607-8026
Util Pd by Tenant
Other: All
Flood Zone
Other: Buyer Verify
Location
Other: Near NAU
Property Features
Terms of Sale: Submit
General Land Info: See Remarks
Interior Amenities: Living Qtrs.
Occupancy: Totally Leased
Management: Owner
Construction: Frame
Roof: Asphalt Shingle
Utilities: City Water; Natural Gas; Phone Available; Sewer
Lot Street Imprvmnts: Curbs; St-Concrete; Unpaved Parking
Location: Corner Lot
Possession: COE +
Supplements
Situated within the area impacted by Flagstaff's continued growth and the evolving Downtown Mile corridor, the property benefits from strong connectivity, proximity to Northern Arizona University, nearby employment centers, and increasing housing demand. The location also offers convenient access to Butler Avenue, Milton Road, and Route 66, supporting both residential and mixed-use potential. The existing 6-bedroom structure is present on site and may provide interim utility; however, the opportunity is best suited for buyers focused on redevelopment, entitlement completion, land value, and long-term investment potential. Opportunities for commercially zoned infill parcels with potential higher-density outcomes in central Flagstaff are increasingly limited, making this a compelling acquisition for those seeking a strategic development position in one of Northern Arizona's strongest markets.
Listing Office: da Vinci Realty
Last Updated: June - 03 - 2026
Copyright 2021 Northern Arizona Association of Realtors®. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.