16-Unit Apartment
New
For Sale
$900,000
1435 E Benson Highway, Tucson, AZ 85714
Commercial Sale, Tucson, AZ
Property Size4,651 SF
Lot Size1.08 Acres
Price / SF$193.51
Days on Market6
Property Features for 1435 E Benson Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Tucson - C2
Directions
From Ajo, go southeast on Benson Hwy to property on Left
Subdivision
South
Standard status
Active
APN
132-16-0320
Size
4,651 SF
Lot size
1.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:001010010 /Pc 100' X 471' Facing Benson Hwy In Nw4 Ne4 Lyg 1109.9' Sely From W Line Of Ne4 S 1.08 Ac Sec 31-
Tax Annual Amount
3500
Legal Description
From Parcel:001010010 /Pc 100' X 471' Facing Benson Hwy In Nw4 Ne4 Lyg 1109.9' Sely From W Line Of Ne4 S 1.08 Ac Sec 31-
Building Details
Year built
1948
Listing Agency:
Real Broker
(602) 755-3415
Listed By:
Marc E Luety II · License #SA637104000
(520) 850-4000
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 13 at 12:06PM
MLS# 22622120
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 16-unit apartment property occupies a one-story stucco and block building containing 4,651 square feet. The property operates as an all-bills-paid community with owner-paid utilities and is zoned Tucson - C2. Its construction and unit count support a compact multifamily configuration on a commercial-zoned site.
The property is located at 1435 E Benson Highway in Tucson’s South Tucson / Ward 5 area, near downtown Tucson and the I-10/I-19 interchange. Banner-University Medical Center South and the Tucson VA Medical Center are also nearby. The asset sits within an active corridor of 1940s-vintage Class C apartment properties along Benson Highway.
The property is located at 1435 E Benson Highway in Tucson’s South Tucson / Ward 5 area, near downtown Tucson and the I-10/I-19 interchange. Banner-University Medical Center South and the Tucson VA Medical Center are also nearby. The asset sits within an active corridor of 1940s-vintage Class C apartment properties along Benson Highway.
Key Highlights
- 16 apartment units in a one‑story building
- 4,651 square feet of property area
- Stucco and block construction
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
$47,790
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
5.31%
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%
$955,800
$955.8K
Cap Rate 7%
$682,714
$682.7K
Cap Rate 9%
$531,000
$531.0K
Market Conditions
NOI Build-Up for 4,651 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
$94.9K $20.40/SF
− Vacancy
−$8.0K −$1.72/SF
EGI
$86.9K $18.68/SF
− OpEx
−$39.1K −$8.41/SF
NOI
$47.8K $10.28/SF
Area
Tucson, AZ
Vacancy
8.42%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$955,800
Cap Rate 7%
$682,714
Cap Rate 9%
$531,000
Alternative Uses
Best Use
Apartment 5plus
$682.7K
$597.4K – $796.5K
NOI $47,790 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,575 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
16
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
Explore this area
Business Placement
Demographics for 85714, AZ
14,232
Population
5,589
Households
2.5
Avg Household Size
38
Median Age
10%
College-Educated
69%
High-School Grad
5.6 sq mi
ZIP Area
2,541
Density / Sq Mi
$47,093
Median Household Income
$30,204
Median Earnings
$879
Median Rent
$177,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - One-story stucco and block apartment property with C-2 zoning and owner-paid utilities.
Where is this apartment building located?
The property is located at 1435 E Benson Highway Tucson, AZ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 16 apartment units in a one‑story building; 4,651 square feet of property area; Stucco and block construction
