Flex and Warehouse Space
For Sale
$838,390
Pending
1134 South Park Avenue, Tucson, AZ 85719
Flex and warehouse spaces totaling 8,555 SF for sale.
Property Size8,555 SF
Days on Market274
Property Features for 1134 South Park Avenue
General Information
Standard status
Pending
Size
8,555 SF
Property subtype
Office
Listing Agency:
CBRE - Tucson
(520) 323-5151
Listed By:
Buzz Isaacson · License #AZSA518757000
(520) 323-5151
Source:
Cbre
Added: Nov 22, 2025
Changed: Aug 19
Last Checked: Jul 23 at 7:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Tucson
Investment Insights
Based on property information with market context.
Located at 1128-1134 S. Park Ave, this property offers approximately 3,239 square feet of flex space and approximately 5,316 square feet of warehouse space, totaling approximately 8,555 square feet. The property is zoned C-3 (City of Tucson) for the flex space and I-1 (City of Tucson) for the warehouse space.
Key Highlights
- Total of ±8,555 SF available, suitable for various business needs.
- Sale Price of $838,390 ($90/SF) represents a potentially attractive investment.
- Includes both Flex (±3,239 SF) and Warehouse (±5,316 SF) spaces.
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
$75,278
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
8.98%
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%
$1,505,560
$1.5M
Cap Rate 7%
$1,075,400
$1.1M
Cap Rate 9%
$836,422
$836.4K
Market Conditions
NOI Build-Up for 8,555 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
$93.4K $10.92/SF
− Vacancy
−$4.9K −$0.57/SF
EGI
$88.6K $10.35/SF
− OpEx
−$13.3K −$1.55/SF
NOI
$75.3K $8.80/SF
Area
Tucson, AZ
Vacancy
5.20%
Lease Rate
$10.92 /SF/Yr
Expense Ratio
15.00%
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%
$1,505,560
Cap Rate 7%
$1,075,400
Cap Rate 9%
$836,422
Alternative Uses
Best Use
Warehouse
$1.08M
$941.0K – $1.25M
NOI $75,278 @ 7.0% cap · market cap 8.98%
Second Best
Industrial
$885.6K
$774.9K – $1.03M
NOI $61,994 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,567 @ 7.0% cap · market cap 18.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85719, AZ
46,242
Population
21,707
Households
2.1
Avg Household Size
27
Median Age
46%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
5,780
Density / Sq Mi
$41,086
Median Household Income
$17,430
Median Earnings
$1,051
Median Rent
$266,900
Median Home Value
Market
Vacancy Rate% for Industrial in Tucson, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Flex and warehouse spaces totaling 8,555 SF for sale.
Where is this warehouse located?
The property is located at 1134 South Park Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $838,390.
What are key features of this property?
This property features: Total of ±8,555 SF available, suitable for various business needs.; Sale Price of $838,390 ($90/SF) represents a potentially attractive investment.; Includes both **Flex (±3,239 SF)** and **Warehouse (±5,316 SF) spaces**.
