Ranch Triplex with
For Sale
$329,000
1302 N Dodge Boulevard, Tucson, AZ 85716
Residential Income, Ranch, Tucson, AZ
Property Size1,699 SF
Lot Size0.16 Acres
Price / SF$193.64
Days on Market123
Property Features for 1302 N Dodge Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Tucson - R2
Parking
3
Patio and Porch features
Patio
Appliances
Electric Range, Gas Range
Subdivision
Speedway Park
Lot features
East/ West Exposure
View
City
Elementary school
Wright
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Speedway/Dodge, North to property address
Standard status
Active
APN
122-18-2010
Size
1,699 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Speedway Park S60' Lot 5 Blk 10
Legal Description
Speedway Park S60' Lot 5 Blk 10
Utilities
Heating system
Electric (Heating), Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central a/c and heat
washer/dryer
washer/dryer hookups
Building Details
Year built
1946
Number of units
3
Flooring type
Carpet, Vinyl
Building materials
Block
Roof type
Built-Up
Architectural style
Ranch
Additional Structures
Kennel/Dog Run
Listing Agency:
Tierra Antigua Realty
(520) 544-2335
Listed By:
Carlos Taplin
(520) 331-8351
Added: May 12
Changed: Sep 5
Last Checked: Sep 11 at 11:06PM
MLS# 22612291
Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This ranch-style triplex at 1302 N Dodge Boulevard contains 1,699 square feet on a 0.16-acre lot. Built in 1946, the property features solid block construction, central air conditioning, forced-air heating, vinyl and carpet flooring, a built-up roof, and a patio. Two units include washer and dryer equipment, while the third has available hookups. Electric and gas ranges are present, along with public water service.
The property is located in Tucson near the University of Arizona, Loft Theater, Whole Foods, restaurants, and coffee shops. It is within walking distance of the bus line and close to the 3rd Street bike path. Zoning is Tucson - R2, and off-street parking is available on the site.
The property is located in Tucson near the University of Arizona, Loft Theater, Whole Foods, restaurants, and coffee shops. It is within walking distance of the bus line and close to the 3rd Street bike path. Zoning is Tucson - R2, and off-street parking is available on the site.
Key Highlights
- Three‑unit ranch property with 1,699 square feet of building area
- Situated on a 0.16‑acre lot in Tucson - R2 zoning
- Solid block construction; built in 1946
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
5.79%
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 5.79%
Second Best
Apartment 5plus
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$441.4K
$386.2K – $514.9K
NOI $30,895 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,131
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Block-built three-unit property with central air, laundry connections, patio space, and off-street parking.
Where is this triplex located?
The property is located at 1302 N Dodge Boulevard Tucson, AZ.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Three‑unit ranch property with 1,699 square feet of building area; Situated on a 0.16‑acre lot in Tucson - R2 zoning; Solid block construction; built in 1946
