Walgreens Drug
For Sale
Contact for pricing
1880 E Irvington Rd, Tucson, AZ 85714
Walgreens retail facility subject to a corporate absolute NNN lease in Tucson’s established south-side commercial area.
Property Size14,490 SF
Price / SF$271.19
Days on Market123
Property Features for 1880 E Irvington Rd
General Information
Standard status
Active
Size
14,490 SF
Total Parking Spaces
75
Property subtype
Retail
Zoning
C-1 (Local Commercial)
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$347,760
Additional Details
Highway Access
Yes
Building Details
Year Built
2002
Year Renovated
2013
Tenancy
Single
Listing Agency:
ParaSell Inc
(949) 942-6585
Listed By:
Scott Reid · License #GA - 77666
Source:
Crexi
Added: May 1
Changed: Aug 30
Last Checked: Aug 30 at 7:19AM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
The property is a 14,490-square-foot Walgreens drug store at 1880 E Irvington Rd in Tucson. Built in 2002, the building carries C-1 (Local Commercial) zoning and is subject to a corporate absolute NNN lease. The offering is positioned as a retail asset with an established national occupant.
Within a 3-mile radius, the surrounding area has a population of over 89,310. Anchored shopping centers with national, regional, and local retailers surround the site. The property is 2.5 miles south of Tucson International Airport and 1.2 miles south of I-10, providing access to a major regional transportation route. A major retail corridor with Costco, Walmart Supercenter, Bass Pro Shops, and Dave & Buster’s is located within 1 mile north.
Within a 3-mile radius, the surrounding area has a population of over 89,310. Anchored shopping centers with national, regional, and local retailers surround the site. The property is 2.5 miles south of Tucson International Airport and 1.2 miles south of I-10, providing access to a major regional transportation route. A major retail corridor with Costco, Walmart Supercenter, Bass Pro Shops, and Dave & Buster’s is located within 1 mile north.
Key Highlights
- 14,490‑square‑foot Walgreens drug store built in 2002
- Corporate absolute NNN lease
- C‑1 (Local Commercial) zoning
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
$147,572
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
3.76%
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%
$2,951,440
$3.0M
Cap Rate 7%
$2,108,171
$2.1M
Cap Rate 9%
$1,639,689
$1.6M
Market Conditions
NOI Build-Up for 14,490 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
$208.7K $14.40/SF
− Vacancy
−$11.9K −$0.82/SF
EGI
$196.8K $13.58/SF
− OpEx
−$49.2K −$3.39/SF
NOI
$147.6K $10.18/SF
Area
Tucson, AZ
Vacancy
5.70%
Lease Rate
$14.40 /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%
$2,951,440
Cap Rate 7%
$2,108,171
Cap Rate 9%
$1,639,689
Alternative Uses
Best Use
Specialty Retail
$2.11M
$1.84M – $2.46M
NOI $147,572 @ 7.0% cap · market cap 3.76%
Second Best
Retail
$1.97M
$1.72M – $2.30M
NOI $137,734 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,491 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
391k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 35%
Dining 29%
Groceries 29%
Home Improvements & Furnishings 3%
Fry's
Groceries
64,466 visits/mo
0.2 miles
QuikTrip
Shops & Services
59,274 visits/mo
0.5 miles
Food City Arizona
Groceries
47,126 visits/mo
0.3 miles
McDonald's
Dining
32,865 visits/mo
0.3 miles
Circle K
Shops & Services
21,634 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Tucson, AZ
Questions? Ask Rey
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Similar Off Market Nearby
- Food City Pharmacy — 2000 E Irvington Rd, Tucson, AZ 85714
- Jesus Solis, Pharm — 1880 E Irvington Rd, Tucson, AZ 85706, United States
- Andrea Ingalls, PharmD — 1880 East Irvington Road, Tucson, AZ 85714, Tucson, AZ 85706, United States
- COVID-19 Drive-Thru Testing at Walgreens — 1880 E Irvington Rd, Tucson, AZ 85714
- Walgreens Pharmacy — 1880 E Irvington Rd, Tucson, AZ 85714
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens retail facility subject to a corporate absolute NNN lease in Tucson’s established south-side commercial area.
Where is this drug store located?
The property is located at 1880 E Irvington Rd Tucson, AZ.
What is the asking price?
The asking price for this property is $3,929,491.
What are key features of this property?
This property features: 14,490‑square‑foot Walgreens drug store built in 2002; Corporate absolute NNN lease; C‑1 (Local Commercial) zoning
