Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    245 South Wilmot Rd Tucson, AZ 85711

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $25 SF/Yr

    New retail development in the Park Place Mall area.

    Property Features for 245 South Wilmot Rd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Jesse Peron
    Jesse Peron
    Source: Cbre

    Listing Agency: CBRE - Tucson Listing Agent: Jesse Peron

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space in Park Place

    This newly built retail development offers approximately 10,500 square feet of space. It is situated in the Park Place Mall regional trade area. The location benefits from nearby restaurants and retailers, including Total Wine and More, Dillard's, Forever 21, Applebee's, Red Lobster, Best Buy, Cost Plus World Market, Pier 1 Imports, Savers, LA Fitness, Texas Roadhouse, BevMo, Tuesday Morning, and Famous Footwear. Recent additions to the intersection include Kneaders Bakery & Cafe, Dick's Sporting Goods, Nordstrom Rack, and Raising Cane's. Monument signage is available. The property is suitable for restaurant uses.
    Location Intelligence

    Current Use by Public Records

    Quik Fix Phone ... Computer & Electronic Repair One Stop Nutrition ... (Bike/Boat/Book/etc) Store Army Recruiting Catalina Military Recruiting Office Cinnaholic Bakery Peach Skin & Laser Skin Care Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.8574562
    Latitude
    32.2190065

    Nearby Similar for Lease

    • $3,250 /Mo
      2,600 SF

      Versatile Commercial Space in Tucson

      2600 SF commercial space suitable for various business uses.
      2841 N Campbell Ave, Tucson, AZ 85719
      View Details
    • $16 SF/Yr
      13,939 SF

      Tucson Commercial Space For Rent

      1400 SF commercial space in vibrant Tucson location.
      919 N Stone Ave, Tucson, AZ 85705
      View Details
    • $2,800 /Mo
      2,384 SF

      Midtown Tucson Office/Warehouse with Apartment

      Unique industrial property with office, warehouse, and apartment.
      3365 N Dodge Blvd, Tucson, AZ 85716
      View Details
    • $4,000 /Mo
      2,600 SF

      Renovated Commercial Building with Yard

      Turnkey 2,600 SF commercial space with C1 zoning.
      6470 E 22Nd St, Tucson, AZ 85710
      View Details
    • $7,500 /Mo
      3,690 SF

      Adaptable Warehouse and Office Space

      Versatile commercial property with warehouse and office space for lease.
      2200 W La Osa St, Tucson, AZ 85705
      View Details
    • Contact for pricing

      AZ, Tucson - Congress St

      Workspaces, services and support to help you grow your business in CA, Moreno Valley - Town Cir
      130 Congress St, Tucson, AZ 85701
      View Details
    • Contact for pricing

      AZ, Tucson - E Broadway Blvd

      Discover many ways to work your way in AZ, Tucson - E Broadway Blvd
      5055 Broadway Blvd, Tucson, AZ 85711
      View Details
    • $3,000 /Mo
      3,315 SF

      High-Traffic Commercial Space with Drive-Thru

      High-visibility Tucson commercial space with drive-thru; additional storage available.
      2901 N Country Club Rd, Tucson, AZ 85716
      View Details
    • Sponsored
      Contact for pricing

      AZ, Tucson - N Oracle Road

      Discover many ways to work your way in Bellevue Skyline Tower
      6760 Oracle Rd, Tucson, AZ 85704
      View Details
    • $30,558
      1,398 SF

      Prime Retail Space in Tucson

      High-visibility retail space in Tucson's Central Business District.
      424 E 6Th St, Tucson, AZ 85705
      View Details
    • $22 SF/Yr
      57,481 SF

      Retail and Office Space Available

      Retail and office suites in established Tucson shopping center.
      1101 N Wilmot Rd, Tucson, AZ 85712
      View Details
    • Contact for pricing

      AZ, Tucson - N Church Ave

      Discover many ways to work your way in AZ, Tucson - N Church Ave
      177 Church Ave, Tucson, AZ 85701
      View Details

    FAQs

    What type of property is this?
    Retail space - New retail development in the Park Place Mall area.
    Where is this retail space located?
    The property is located at 245 South Wilmot Rd Tucson, AZ.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: - Located in the heart of the Park Place Mall regional trade area.; - Newly built, ±10,500 SF retail development.; - Benefits from surrounding restaurants and retailers.
    (520) 323-5130
    Request Owner's contact information
    245 South Wilmot Rd Tucson, AZ 85711
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    245 South Wilmot Rd
    Tucson, AZ 85711
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    245 South Wilmot Rd Tucson, AZ 85711
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jesse Peron
    Jesse Peron
    Real Estate License ID: SA571953000
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!