Live-Work Downtown
For Sale
$407,834
182 North Court Avenue, Tucson, AZ 85701
Property offers ground-floor law firm operations and a residential apartment on the second floor.
Property Size2,950 SF
Price / SF$138.25
Days on Market170
Property Features for 182 North Court Avenue
General Information
Standard status
Active
Size
2,950 SF
Property subtype
Office
Units
Multifamily Units
1
Office Units
1
Building Details
Stories
2
Listed By:
Buzz Isaacson · License #AZ BR012749000
(520) 323-5151
Source:
Cbre
Added: Apr 24
Changed: Oct 1
Last Checked: Oct 9 at 4:38PM
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 Buzz Isaacson
Investment Insights
Based on property information with market context.
This colorful downtown live-work property features an inviting courtyard entrance. The ground floor has operated as a law firm, while the second floor includes a residential apartment.
The offering is presented for sale, and the property includes guidance to use the AAR Commercial Real Estate Purchase Contract (Updated August 2024) for all offers.
With office space on the first level and residential space on the second, the layout supports combined commercial and living use within the same building.
The offering is presented for sale, and the property includes guidance to use the AAR Commercial Real Estate Purchase Contract (Updated August 2024) for all offers.
With office space on the first level and residential space on the second, the layout supports combined commercial and living use within the same building.
Key Highlights
- Year built: 1967
- Ground floor has been operating as a law firm
- Second floor includes a residential apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,241
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,820
$724.8K
Cap Rate 7%
$517,729
$517.7K
Cap Rate 9%
$402,678
$402.7K
Market Conditions
NOI Build-Up for 2,950 SF
Gross rent
$63.7K $21.60/SF
− Vacancy
−$5.7K −$1.94/SF
EGI
$58.0K $19.66/SF
− OpEx
−$21.7K −$7.37/SF
NOI
$36.2K $12.29/SF
Area
Tucson, AZ
Vacancy
9.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,820
Cap Rate 7%
$517,729
Cap Rate 9%
$402,678
Alternative Uses
Best Use
Office B
$615.8K
$538.8K – $718.5K
NOI $43,107 @ 7.0% cap · market cap 10.57%
Second Best
Mixed Use
$517.7K
$453.0K – $604.0K
NOI $36,241 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$766.3K
$670.6K – $894.1K
NOI $53,644 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,703
Businesses Nearby
Explore this area
Business Placement
Demographics for 85701, AZ
5,132
Population
3,631
Households
1.4
Avg Household Size
37
Median Age
57%
College-Educated
91%
High-School Grad
1.5 sq mi
ZIP Area
3,421
Density / Sq Mi
$52,672
Median Household Income
$43,762
Median Earnings
$1,183
Median Rent
$451,500
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?
Live-work space - Property offers ground-floor law firm operations and a residential apartment on the second floor.
Where is this live-work space located?
The property is located at 182 North Court Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $407,834.
What are key features of this property?
This property features: Year built: 1967; Ground floor has been operating as a law firm; Second floor includes a residential apartment
