Medical Office Condominium For
For Sale
Contact for pricing
1668 W Ina Rd, Tucson, AZ 85704
Well-laid out medical office condominium with multiple rooms.
Property Size4,358 SF
Price / SF$225
Days on Market157
Property Features for 1668 W Ina Rd
General Information
Standard status
Active
Size
4,358 SF
Class
B
Property subtype
Office
Zoning
TR
Lease Type
NNN
Building Details
Year Built
1985
Buildings
1
Stories
1
Units
1
Listing Agency:
Volk Company Commercial Real Estate
(520) 495-2238
Listed By:
David Volk · License #AZ BR027227000
Source:
Crexi
Added: Mar 18
Changed: Aug 9
Last Checked: Aug 19 at 9:29PM
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 Volk Company Commercial Real Estate
Investment Insights
Based on property information with market context.
This is a medical office condominium featuring a well-designed layout. The space includes 13 exam rooms, large reception areas, a fiber-optic IT room, a lab, an office, and a business office. The property is suitable for medical practices seeking a functional and well-equipped space.
Key Highlights
- 13 Exam Rooms provide ample space for patient care.
- Large Reception Areas offer a welcoming environment.
- Fiber‑Optic IT Room for advanced technology infrastructure.
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
$63,681
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
6.49%
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%
$1,273,620
$1.3M
Cap Rate 7%
$909,729
$909.7K
Cap Rate 9%
$707,567
$707.6K
Market Conditions
NOI Build-Up for 4,358 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
$94.1K $21.60/SF
− Vacancy
−$9.2K −$2.12/SF
EGI
$84.9K $19.48/SF
− OpEx
−$21.2K −$4.87/SF
NOI
$63.7K $14.61/SF
Area
Tucson, AZ
Vacancy
9.80%
Lease Rate
$21.60 /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%
$1,273,620
Cap Rate 7%
$909,729
Cap Rate 9%
$707,567
Alternative Uses
Best Use
Office B
$909.7K
$796.0K – $1.06M
NOI $63,681 @ 7.0% cap · market cap 6.49%
Second Best
Healthcare Medical
$829.3K
$725.6K – $967.5K
NOI $58,049 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$1.13M
$990.6K – $1.32M
NOI $79,247 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85704, AZ
34,430
Population
17,827
Households
1.9
Avg Household Size
49
Median Age
51%
College-Educated
95%
High-School Grad
18.2 sq mi
ZIP Area
1,892
Density / Sq Mi
$76,915
Median Household Income
$43,684
Median Earnings
$1,424
Median Rent
$389,000
Median Home Value
Market
Vacancy Rate% for Office in Tucson, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-laid out medical office condominium with multiple rooms.
Where is this medical office space located?
The property is located at 1668 W Ina Rd Tucson, AZ.
What is the asking price?
The asking price for this property is $980,550.
What are key features of this property?
This property features: 13 Exam Rooms provide ample space for patient care.; Large Reception Areas offer a welcoming environment.; Fiber‑Optic IT Room for advanced technology infrastructure.
