Flagstaff, Arizona, offers a unique opportunity for investors to capitalize on the city's growing retail market. With a diverse range of attractions, including the Grand Canyon National Park, Lowell Observatory, and Arizona Snowbowl ski resort, Flagstaff draws visitors from across the country, making it an ideal location for retail properties. Retail properties in Flagstaff can represent a variety of investments, from small, independent shops to larger, more established chain stores. The city's strong tourism industry, combined with its growing population of around 70,000 residents, creates a demand for retail spaces that cater to both locals and visitors. Flagstaff's amenities, such as the Flagstaff Medical Center, Northern Arizona University, and the Flagstaff Urban Trails System, make it an attractive location for businesses and residents alike. The city's infrastructure, including the Southern Transcon rail corridor and Flagstaff Pulliam Airport, also supports the growth of retail properties. Additionally, Flagstaff's proximity to major attractions like the Grand Canyon and its scenic natural beauty make it a popular destination for tourists, further supporting the demand for retail spaces.
Currently, there are 5 retail properties for sale in Flagstaff, offering a range of investment opportunities. The average price per square foot for retail properties in Flagstaff is $861 USD, with an average size of 9,849 square feet. The largest retail property available is 19,168 square feet. In addition to retail properties, Flagstaff also offers a range of other commercial properties, including shopping centers, restaurants, office properties, and hotels. Shopping centers in Flagstaff offer a range of retail spaces, from small boutiques to larger anchor stores. Restaurants in Flagstaff cater to a diverse range of tastes, from fine dining to casual eateries. Office properties in Flagstaff are home to a variety of businesses, including tech startups and established companies. Hotels in Flagstaff offer a range of accommodations, from budget-friendly options to luxury resorts. Overall, Flagstaff's commercial real estate market offers a range of investment opportunities, from retail properties to other commercial spaces.
What is the average cap rate for retail properties in Flagstaff?
When it comes to retail properties in Flagstaff, investors can expect an average cap rate of 6.62%, which is a key metric to consider when evaluating the potential return on investment. To learn more about how cap rates work and what they mean for your investment strategy, be sure to check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Flagstaff, Arizona, the location of a retail property plays a significant role in determining its value, with properties situated near popular tourist attractions like the Grand Canyon National Park, Lowell Observatory, and Arizona Snowbowl ski resort tend to have higher values due to increased foot traffic. Additionally, properties located in areas with high foot traffic, such as downtown Flagstaff and the Northern Arizona University campus, are more likely to attract customers and generate revenue, thereby increasing their value.
