Updated Triplex With Detached
For Sale
$369,000
1302 N Dodge Blvd, Tucson, AZ 85716
Three tenant-occupied residences offer individual HVAC systems and dedicated laundry connections in a solid block property.
Property Size1,699 SF
Price / SF$217.19
Days on Market93
Property Features for 1302 N Dodge Blvd
General Information
Standard status
Active
Size
1,699 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2/1, 2 x 1/1
Multifamily Units
3
Listing Agency:
Tierra Antigua Realty
(520) 331-8351
Listed By:
Carlos Taplin
(520) 331-8351
Source:
Exprealty
Added: May 12
Changed: Aug 8
Last Checked: Aug 11 at 9:39AM
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 Tierra Antigua Realty
Investment Insights
Based on property information with market context.
Located at 1302 N Dodge Blvd in Tucson, this triplex includes a two-bedroom, one-bath unit, a one-bedroom, one-bath unit, and a separate one-bedroom, one-bath residence. Solid block construction supports the property’s three-unit configuration, while updates include HVAC equipment, flooring, and cabinetry. Each residence has air conditioning, heat, and its own laundry hookups, and the property is tenant occupied.
The property is a 10-minute drive from the University of Arizona and sits two blocks from the bus line. The Loft theater, Whole Foods, restaurants, and coffee shops are also nearby, providing access to established neighborhood amenities. The combination of three distinct residences, a detached unit, and updated interior and mechanical features defines the property’s current configuration.
The property is a 10-minute drive from the University of Arizona and sits two blocks from the bus line. The Loft theater, Whole Foods, restaurants, and coffee shops are also nearby, providing access to established neighborhood amenities. The combination of three distinct residences, a detached unit, and updated interior and mechanical features defines the property’s current configuration.
Key Highlights
- Three‑unit configuration with a 2/1, 1/1, and detached 1/1 residence
- Solid block construction
- HVAC, flooring, and cabinet updates
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
$19,038
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
5.16%
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%
$380,760
$380.8K
Cap Rate 7%
$271,971
$272.0K
Cap Rate 9%
$211,533
$211.5K
Market Conditions
NOI Build-Up for 1,699 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
$29.6K $17.40/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$27.2K $16.01/SF
− OpEx
−$8.2K −$4.80/SF
NOI
$19.0K $11.21/SF
Area
Tucson, AZ
Vacancy
8.00%
Lease Rate
$17.40 /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%
$380,760
Cap Rate 7%
$271,971
Cap Rate 9%
$211,533
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.3K
NOI $19,038 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$441.4K
$386.2K – $514.9K
NOI $30,895 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
Explore this area
Business Placement
Demographics for 85716, AZ
31,521
Population
19,025
Households
1.7
Avg Household Size
39
Median Age
42%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
4,378
Density / Sq Mi
$47,009
Median Household Income
$33,367
Median Earnings
$1,021
Median Rent
$300,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three tenant-occupied residences offer individual HVAC systems and dedicated laundry connections in a solid block property.
Where is this triplex located?
The property is located at 1302 N Dodge Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Three‑unit configuration with a 2/1, 1/1, and detached 1/1 residence; Solid block construction; HVAC, flooring, and cabinet updates
