Retail Strip in Tucson,
For Sale
$9,100,000
1280 West Prince Road, Tucson, AZ 85705
77,179 SF retail strip with high traffic and visibility.
Property Size77,179 SF
Price / SF$117.91
Days on Market90
Property Features for 1280 West Prince Road
General Information
Standard status
Active
Size
77,179 SF
Property subtype
Retail
Listing Agency:
Newmark
(602) 770-3245
Listed By:
Steve Julius · License #SA586241000
(602) 770-3245
Source:
Nmrk
Added: May 14
Changed: Aug 8
Last Checked: Aug 11 at 5:01AM
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 Newmark
Investment Insights
Based on property information with market context.
The property is a 77,179 square foot retail strip located at the northeast corner of Prince Road and Flowing Wells Road in Tucson, Arizona. It is situated in a high traffic corridor and features high visibility frontage. The property offers upside potential and has a daily needs tenant mix.
Key Highlights
- High traffic corridor ensures constant exposure
- Daily needs tenant mix provides reliable customer base
- High visibility frontage attracts attention
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
$755,987
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
8.31%
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%
$15,119,740
$15.1M
Cap Rate 7%
$10,799,814
$10.8M
Cap Rate 9%
$8,399,856
$8.4M
Market Conditions
NOI Build-Up for 77,179 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
$1.20M $15.60/SF
− Vacancy
−$124.0K −$1.61/SF
EGI
$1.08M $13.99/SF
− OpEx
−$324.0K −$4.20/SF
NOI
$756.0K $9.80/SF
Area
ZIP 85705
Vacancy
10.30%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$15,119,740
Cap Rate 7%
$10,799,814
Cap Rate 9%
$8,399,856
Alternative Uses
Best Use
Retail
$10.80M
$9.45M – $12.60M
NOI $755,987 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.76M
$15.54M – $20.72M
NOI $1,243,187 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Beauty & Spa 2%
Electronics 2%
Circle K
Shops & Services
16,324 visits/mo
0.5 miles
Dollar Tree
Shops & Services
12,094 visits/mo
0.2 miles
Wells Fargo
Shops & Services
10,475 visits/mo
0.1 miles
Family Dollar
Shops & Services
8,269 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
4,943 visits/mo
0.3 miles
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
Median Home Value
Market
Vacancy Rate% for Retail in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - 77,179 SF retail strip with high traffic and visibility.
Where is this strip mall located?
The property is located at 1280 West Prince Road Tucson, AZ.
What is the asking price?
The asking price for this property is $9,100,000.
What are key features of this property?
This property features: High traffic corridor ensures constant exposure; Daily needs tenant mix provides reliable customer base; High visibility frontage attracts attention
