NFP Insurance Solutions Office
For Sale
Contact for pricing
6992 E Broadway Blvd, Tucson, AZ 85710
Corporate lease guaranty and gross lease structure accompany this office property.
Property Size15,600 SF
Lot Size0.66 Acres
Price / SF$290.58
Days on Market580
Property Features for 6992 E Broadway Blvd
General Information
Standard status
Active
Size
15,600 SF
Lot size
0.66 Acres
Property subtype
OFFICE
Listing Agency:
Echo West Capital Advisors
(602) 509-5800
Listed By:
Jack McAndrew · License #SA680087000
(602) 509-5800
Source:
Moodyscre
Added: Jan 28, 2025
Changed: Aug 29
Last Checked: Aug 30 at 8:19PM
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 Echo West Capital Advisors
Investment Insights
Based on property information with market context.
NFP Insurance Solutions is a 15,600-square-foot office building situated on 0.66 AC at 6992 E Broadway Blvd in Tucson, Arizona. The property is offered with a gross lease structure that includes 3% annual rent increases and renewal provisions consisting of 2, 3-year options.
The lease guarantor is corporate, identified as NFP, An Aon Company. These documented lease terms, together with the building’s office classification, define the current commercial offering at the East Broadway Boulevard address.
The lease guarantor is corporate, identified as NFP, An Aon Company. These documented lease terms, together with the building’s office classification, define the current commercial offering at the East Broadway Boulevard address.
Key Highlights
- 15,600 square feet of office space
- Office property situated on 0.66 AC
- Gross lease structure
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
$219,024
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
4.83%
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%
$4,380,480
$4.4M
Cap Rate 7%
$3,128,914
$3.1M
Cap Rate 9%
$2,433,600
$2.4M
Market Conditions
NOI Build-Up for 15,600 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
$374.4K $24.00/SF
− Vacancy
−$82.4K −$5.28/SF
EGI
$292.0K $18.72/SF
− OpEx
−$73.0K −$4.68/SF
NOI
$219.0K $14.04/SF
Area
ZIP 85710
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,380,480
Cap Rate 7%
$3,128,914
Cap Rate 9%
$2,433,600
Alternative Uses
Best Use
Office B
$3.13M
$2.74M – $3.65M
NOI $219,024 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.27M
$3.74M – $4.99M
NOI $299,146 @ 7.0% cap · market cap 6.60%
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
Explore this area
Business Placement
Demographics for 85710, AZ
57,381
Population
28,463
Households
2
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
12.0 sq mi
ZIP Area
4,782
Density / Sq Mi
$54,738
Median Household Income
$36,892
Median Earnings
$1,169
Median Rent
$245,900
Median Home Value
Market
Vacancy Rate% for Office in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corporate lease guaranty and gross lease structure accompany this office property.
Where is this office building located?
The property is located at 6992 E Broadway Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $4,533,000.
What are key features of this property?
This property features: 15,600 square feet of office space; Office property situated on 0.66 AC; Gross lease structure
