Class A Professional Office
For Sale
Contact for pricing
1980 E Fort Lowell Rd, Tucson, AZ
Professional office building with high-end amenities and secured parking.
Property Size8,054 SF
Lot Size0.60 Acres
Price / SF$186.24
Days on Market270
Property Features for 1980 E Fort Lowell Rd
General Information
Standard status
Active
Size
8,054 SF
Lot size
0.60 Acres
Property subtype
OFFICE
Listing Agency:
CBRE | Tucson
(520) 307-2336
Listed By:
Jeff Casper · License #632063
(520) 307-2336
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:45PM
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 CBRE | Tucson
Investment Insights
Based on property information with market context.
This Class A professional office building, designed by a leading law firm, presents an opportunity for an owner-user or investor. The first floor offers approximately 4,027 square feet and is vacant, allowing for immediate occupancy. It can be divided for two tenants by incorporating a storage area. The second floor, also approximately 4,027 square feet, will be available for occupancy in 45 days. The flexible floor plan includes a conference room, library, and private offices, with both elevator and stair access. High-end amenities are present throughout the building, and numerous large windows provide ample natural light. A secured parking lot offers 32 parking spaces, including 14 covered reserved spaces, providing abundant at-door parking. The property benefits from significant building signage and outstanding visibility. It is located near the high-traffic 'Campbell Corridor,' offering excellent access to Downtown, the University of Arizona, and the Foothills. Built in 2003, the property is zoned O-2 in the City of Tucson, with a tax parcel number of 112-05-047B and 2024 real estate taxes of $23,720. The property size is 8,054 square feet.
Key Highlights
- Vacant 1st Floor (±4,027 SF) available for immediate occupancy, suitable for owner‑user or investor.
- Secured parking lot with 32 spaces provides abundant at‑door parking, including 14 covered reserved spaces.
- Significant building signage and outstanding visibility in the high‑traffic 'Campbell Corridor'.
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
$117,688
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
7.85%
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%
$2,353,760
$2.4M
Cap Rate 7%
$1,681,257
$1.7M
Cap Rate 9%
$1,307,644
$1.3M
Market Conditions
NOI Build-Up for 8,054 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
$174.0K $21.60/SF
− Vacancy
−$17.0K −$2.12/SF
EGI
$156.9K $19.48/SF
− OpEx
−$39.2K −$4.87/SF
NOI
$117.7K $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%
$2,353,760
Cap Rate 7%
$1,681,257
Cap Rate 9%
$1,307,644
Alternative Uses
Best Use
Office B
$1.68M
$1.47M – $1.96M
NOI $117,688 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,457 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,266
Businesses Nearby
Explore this area
Business Placement
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 - Professional office building with high-end amenities and secured parking.
Where is this office building located?
The property is located at 1980 E Fort Lowell Rd Tucson, AZ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Vacant 1st Floor (±4,027 SF) available for immediate occupancy, suitable for owner‑user or investor.; Secured parking lot with 32 spaces provides abundant at‑door parking, including 14 covered reserved spaces.; Significant building signage and outstanding visibility in the high‑traffic 'Campbell Corridor'.
