Downtown Office
For Sale
Contact for pricing
116 W Simpson St, Tucson, AZ 85701
For-sale office building in Tucson near key downtown cultural and entertainment venues.
Property Size3,377 SF
Price / SF$281.31
Days on Market142
Property Features for 116 W Simpson St
General Information
Standard status
Active
Size
3,377 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Barrio Viejo
Listing Agency:
CBRE | Tucson
(520) 323-5100
Listed By:
Jeff Casper · License #632063
(520) 307-2336
Source:
Moodyscre
Added: Jun 4
Changed: Oct 3
Last Checked: Oct 23 at 7:09AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a for-sale downtown office building at 116 W Simpson St in Tucson, AZ. The available information identifies it as office space within a compact, multi-unit commercial setting.
The location places the building blocks from major downtown destinations including the Tucson Convention Center, Linda Ronstadt Music Hall, and the Leo Rich Theater. It is also near restaurants and coffee shops, with Teatro Carmen noted as soon to be revived. Access is described as blocks from the Tucson Loop and Interstate 10.
While specific interior unit configurations and condition details are not provided, the property is positioned as an office asset within a walkable downtown environment supported by nearby entertainment and dining.
The location places the building blocks from major downtown destinations including the Tucson Convention Center, Linda Ronstadt Music Hall, and the Leo Rich Theater. It is also near restaurants and coffee shops, with Teatro Carmen noted as soon to be revived. Access is described as blocks from the Tucson Loop and Interstate 10.
While specific interior unit configurations and condition details are not provided, the property is positioned as an office asset within a walkable downtown environment supported by nearby entertainment and dining.
Key Highlights
- For‑sale office building in Tucson near Interstate 10.
- Blocks away from the Tucson Loop (131 mi. bike path).
- Close to the Tucson Convention Center, Linda Ronstadt Music Hall, and Leo Rich Theater.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,346
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,920
$986.9K
Cap Rate 7%
$704,943
$704.9K
Cap Rate 9%
$548,289
$548.3K
Market Conditions
NOI Build-Up for 3,377 SF
Gross rent
$72.9K $21.60/SF
− Vacancy
−$7.1K −$2.12/SF
EGI
$65.8K $19.48/SF
− OpEx
−$16.4K −$4.87/SF
NOI
$49.3K $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 Rate 5%
$986,920
Cap Rate 7%
$704,943
Cap Rate 9%
$548,289
Alternative Uses
Best Use
Office B
$704.9K
$616.8K – $822.4K
NOI $49,346 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$877.3K
$767.6K – $1.02M
NOI $61,408 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,888
Businesses Nearby
Explore this area
Business Placement
Demographics for 85701, AZ
5,132
Population
3,631
Households
1.4
Avg Household Size
37
Median Age
57%
College-Educated
91%
High-School Grad
1.5 sq mi
ZIP Area
3,421
Density / Sq Mi
$52,672
Median Household Income
$43,762
Median Earnings
$1,183
Median Rent
$451,500
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
Frequently Asked Questions
What type of property is this?
Office unit - For-sale office building in Tucson near key downtown cultural and entertainment venues.
Where is this office unit located?
The property is located at 116 W Simpson St Tucson, AZ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: For‑sale office building in Tucson near Interstate 10.; Blocks away from the Tucson Loop (131 mi. bike path).; Close to the Tucson Convention Center, Linda Ronstadt Music Hall, and Leo Rich Theater.
