Prime Tucson Commercial
For Sale
$595,000
2648 N Campbell Avenue, Tucson, AZ 85719
Commercial property in high-demand Campbell corridor near the University of Arizona.
Property Size2,340 SF
Price / SF$254.27
Days on Market101
Property Features for 2648 N Campbell Avenue
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Commercial
Zoning
Tucson - C1
Building Details
Building Size
2,340 SF
Year Built
1955
Listing Agency:
Realty Executives Arizona Territory
(520) 955-3164
Listed By:
Matthew 'Matt' E Bollinger · License #BR562660000
(520) 955-3164
Source:
Canteraland
Added: May 18
Changed: Aug 23
Last Checked: Aug 26 at 9:31AM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
Located in central Tucson at 2648 N Campbell Avenue, this commercial property is positioned in the Campbell corridor, near the University of Arizona and Banner University Medical Center. The property is also located near Midtown, Downtown, major retailers, restaurants, dense residential neighborhoods, and public transportation. The site offers visibility, convenience, and flexibility. The property includes 12 parking spaces and is surrounded by daily traffic drivers. The property is suitable for medical, office, nonprofit, service-based, or owner-user possibilities. The property size is 2340 square feet.
Key Highlights
- Prime location on high‑demand Campbell Avenue corridor.
- Close proximity to University of Arizona and Banner University Medical Center.
- High visibility and strong daily traffic.
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
$22,243
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
3.74%
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%
$444,860
$444.9K
Cap Rate 7%
$317,757
$317.8K
Cap Rate 9%
$247,144
$247.1K
Market Conditions
NOI Build-Up for 2,340 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
$33.7K $14.40/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$31.8K $13.58/SF
− OpEx
−$9.5K −$4.07/SF
NOI
$22.2K $9.51/SF
Area
Tucson, AZ
Vacancy
5.70%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$444,860
Cap Rate 7%
$317,757
Cap Rate 9%
$247,144
Alternative Uses
Best Use
Retail
$317.8K
$278.0K – $370.7K
NOI $22,243 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$607.9K
$531.9K – $709.2K
NOI $42,551 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
185k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Groceries 18%
Shops & Services 15%
Apparel 11%
Albertsons
Groceries
32,390 visits/mo
0.2 miles
Ross Dress for Less
Apparel
20,014 visits/mo
0.3 miles
Starbucks
Dining
16,588 visits/mo
0.2 miles
Flower Child
Dining
15,519 visits/mo
0.3 miles
Panda Express
Dining
14,779 visits/mo
0.2 miles
Demographics for 85719, AZ
46,242
Population
21,707
Households
2.1
Avg Household Size
27
Median Age
46%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
5,780
Density / Sq Mi
$41,086
Median Household Income
$17,430
Median Earnings
$1,051
Median Rent
$266,900
Median Home Value
Market
Vacancy Rate% for Retail in Tucson, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial property in high-demand Campbell corridor near the University of Arizona.
Where is this retail space located?
The property is located at 2648 N Campbell Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Prime location on high‑demand Campbell Avenue corridor.; Close proximity to University of Arizona and Banner University Medical Center.; High visibility and strong daily traffic.
