101 S Milton Rd

101/103/105 S Milton Rd Flagstaff, AZ 86001

FOR SALE

Property Type:

Street Retail

Amount:

$2,564,640

Last Verified:

Jun 07, 2024

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Highlights

Stand Alone Building
Milton Corridor Location
Over 140' Milton Rd Frontage
7.5% Cap Rate (Projected)
Room for Additional Improvements
"Buy Out" Option for Leases Available

Description

PRICED TO SELL!!! 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 rates. 7.50 % 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 will allow for the rents to be at market price. Location, Location, Location!

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!

Year Built: 1964

Building Size: 5343sq ft

Lot Size: 0.37 acres