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    Speedway Shops: Fully Leased Retail Title is generated by Realmo AI

    2545 E Speedway Blvd, Tucson, AZ 85716

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    For Sale
    $3,389,000

    100% leased retail center near University of Arizona.

    Type:Retail
    Property size:
    7,917 SF
    Price / SF:
    $428/SF
    Added:
    Apr 16, 2026
    Days on Market:
    52
    Last Refresh:
    Apr 16 at 10:35 pm

    Property Features for 2545 E Speedway Blvd

    General Information

    Standard status
    Active
    Size
    7,917 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    John Schweikert
    John Schweikert

    Listing agent John Schweikert License #SA536326000

    Listing office Phoenix Commercial Advisors

    Listing date Apr 16, 2026

    Source Phoenixcommercialadvisors

    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 Phoenix Commercial Advisors

    HighLights

    • 100% Leased with a 6.25% Cap Rate providing immediate income.
    • Strong Tenant History, including Papa Johns for 20 years.
    • Internet‑Resistant, Service‑Oriented Tenants ensure consistent occupancy.
    • High Traffic Location on Speedway Boulevard with excellent access.
    • Proximity to University of Arizona and Banner University Medical Center.
    • Future Upside Potential by transitioning to NNN leases and bumping rents.

    Overview

    Speedway Shops is a 7,917 square foot retail property that is 100% leased to a mix of service-oriented tenants. The property has demonstrated strong historic occupancy, with half of the tenants occupying their spaces for ten years or more. Papa John's has been at the property for 20 years. The majority of tenants are on gross leases with no remaining options, presenting an opportunity to transition to true NNN leases and increase rents. The property is located less than half a mile from the University of Arizona, which has over 54,000 students and 5,200 staff. It is also near Banner University Medical Center Tucson, a major employer in the area with approximately 649 beds. The property benefits from excellent access and visibility on Speedway Boulevard, a major east-west thoroughfare with over 42,000 vehicles per day. The surrounding area is densely populated, with over 277,000 residents within a 5-mile radius. The average household income within 1 mile of the property is over $101,000. Food away from home consumer spending in 2025 was over $346 million within 5 miles.
    Location Intelligence

    Current Use by Public Records

    Papa John's Pizza Restaurant The Screamery (Speedway Location) Grocery & Convenience Store Santorini Greek Cafe Restaurant Peach Nails Nail Salon

    Suggested Use

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

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

    Similar Places Nearby

    • Plaza Square — 1927 E Speedway Blvd, Tucson, AZ 85719

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.934245
    Latitude
    32.236445

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    FAQs

    What type of property is this?
    Shopping center - 100% leased retail center near University of Arizona.
    Where is this shopping center located?
    The property is located at 2545 E Speedway Blvd Tucson, AZ.
    What is the asking price?
    The asking price for this property is $3,389,000.
    What are key features of this property?
    This property features: 100% Leased with a 6.25% Cap Rate providing immediate income.; Strong Tenant History, including Papa Johns for 20 years.; Internet‑Resistant, Service‑Oriented Tenants ensure consistent occupancy.
    (602) 288-3472
    We can help!
    Listing Contact
    John Schweikert
    John Schweikert
    Real Estate License ID: SA536326000
    Learn More
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    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.

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