Two-Unit Office
For Sale
$650,000
6103 E Grant Road, Tucson, AZ 85712
Commercial Sale, Tucson, AZ
Property Size2,693 SF
Lot Size0.09 Acres
Price / SF$241.37
Days on Market48
Property Features for 6103 E Grant Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Tucson - 03
Window features
Double Pane Windows
Accessibility
Accessible Doors
Lot features
Shrubs, Borders Common Area, Corner Lot, East/ West Exposure
Directions
From Grant and Craycroft, continue eastbound on Grant Rd. Turn left into the Old Farm Executive Park, which is just before the Costco. Buildings will be on your left hand side.
Subdivision
Central
Standard status
Active
APN
11016066A
Size
2,693 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 24 & 25 Old Farm Executive Park
Tax Annual Amount
7274
Legal Description
Lots 24 & 25 Old Farm Executive Park
Utilities
Heating system
Electric (Heating), Zoned
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Building materials
Frame - Stucco
Roof type
Tile, Built-Up
Listing Agency:
Tierra Antigua Realty
(520) 428-0444
Listed By:
Becca Grappin · License #SA638957000
(520) 678-1593
Added: Jul 28
Changed: Sep 13
Last Checked: Sep 13 at 10:06AM
MLS# 22618421
Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,693-square-foot office property comprises two separately metered, single-story units at 6103 and 6105 E Grant Road, currently configured for use as one larger office. Interior improvements include updated flooring, fixtures, a kitchen, and bathrooms. The sale includes office tables, desks, and chairs, providing a furnished workplace setup. Central air conditioning and zoned electric heating serve the building, which was constructed in 1987 with frame-and-stucco construction.
The property occupies a 0.09-acre corner lot in Tucson's Old Farm Executive Park. Ample parking is available, and public water service, built-up and tile roofing, and accessible doors are in place. The property is identified with Tucson - 03 zoning.
The property occupies a 0.09-acre corner lot in Tucson's Old Farm Executive Park. Ample parking is available, and public water service, built-up and tile roofing, and accessible doors are in place. The property is identified with Tucson - 03 zoning.
Key Highlights
- 2,693 SF office property with two separately metered units
- Two single‑story offices currently configured as one larger workspace
- Updated flooring, fixtures, kitchen, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,351
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$787,020
$787.0K
Cap Rate 7%
$562,157
$562.2K
Cap Rate 9%
$437,233
$437.2K
Market Conditions
NOI Build-Up for 2,693 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.2K $21.60/SF
− Vacancy
−$5.7K −$2.12/SF
EGI
$52.5K $19.48/SF
− OpEx
−$13.1K −$4.87/SF
NOI
$39.4K $14.61/SF
Area
Tucson, AZ
Vacancy
9.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$787,020
Cap Rate 7%
$562,157
Cap Rate 9%
$437,233
Alternative Uses
Best Use
Office B
$562.2K
$491.9K – $655.9K
NOI $39,351 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$699.6K
$612.1K – $816.2K
NOI $48,970 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,609
Businesses Nearby
Explore this area
Business Placement
Demographics for 85712, AZ
33,108
Population
18,215
Households
1.8
Avg Household Size
44
Median Age
37%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
4,869
Density / Sq Mi
$48,185
Median Household Income
$39,090
Median Earnings
$947
Median Rent
$250,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Updated single-story office configuration with separate metering, furnished workspaces, and accessible doors.
Where is this office units located?
The property is located at 6103 E Grant Road Tucson, AZ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,693 SF office property with two separately metered units; Two single‑story offices currently configured as one larger workspace; Updated flooring, fixtures, kitchen, and bathrooms
