Historic Two-Unit
For Sale
$560,000
2721 E Fort Lowell Rd, Tucson, AZ 85716
Historic-designated property offering residential, office, and boutique commercial use potential.
Property Size1,818 SF
Price / SF$308.03
Days on Market19
Property Features for 2721 E Fort Lowell Rd
General Information
Standard status
Active
Size
1,818 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Amenities
private patios
large yards
central A/C
washer and dryer hookups
storage
Building Details
Year Built
1952
Listing Agency:
NextHome Complete Realty (DBA)
(520) 250-9709
Listed By:
James Snodgrass · License #BR551653000
Source:
Azonthemove
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 30 at 8:36PM
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 NextHome Complete Realty (DBA)
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,818 square feet and was built in 1952. Each residence provides two bedrooms, one bathroom, a spacious layout, a private patio, and a large yard. Both units include central A/C and washer and dryer hookups, and are described as move-in ready.
The property includes a two-car garage with storage, along with abundant off-street parking. Its position on Fort Lowell Road places the building within the Winterhaven Historic District and provides visibility from the roadway. The property is identified as historic-designated and offers flexibility for residential occupancy, office use, or boutique commercial purposes. The site also includes private outdoor areas associated with each unit.
The property includes a two-car garage with storage, along with abundant off-street parking. Its position on Fort Lowell Road places the building within the Winterhaven Historic District and provides visibility from the roadway. The property is identified as historic-designated and offers flexibility for residential occupancy, office use, or boutique commercial purposes. The site also includes private outdoor areas associated with each unit.
Key Highlights
- Two‑unit duplex with 1,818 square feet, built in 1952
- Each unit includes 2 bedrooms and 1 bathroom
- Historic‑designated property in the Winterhaven Historic District
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
$22,334
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
3.99%
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%
$446,680
$446.7K
Cap Rate 7%
$319,057
$319.1K
Cap Rate 9%
$248,156
$248.2K
Market Conditions
NOI Build-Up for 1,818 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
$39.3K $21.60/SF
− Vacancy
−$3.5K −$1.94/SF
EGI
$35.7K $19.66/SF
− OpEx
−$13.4K −$7.37/SF
NOI
$22.3K $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 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%
$446,680
Cap Rate 7%
$319,057
Cap Rate 9%
$248,156
Alternative Uses
Best Use
Mixed Use
$319.1K
$279.2K – $372.2K
NOI $22,334 @ 7.0% cap · market cap 3.99%
Second Best
Multifamily LT 5
$291.0K
$254.7K – $339.5K
NOI $20,372 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$472.3K
$413.2K – $551.0K
NOI $33,059 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 85716, AZ
31,521
Population
19,025
Households
1.7
Avg Household Size
39
Median Age
42%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
4,378
Density / Sq Mi
$47,009
Median Household Income
$33,367
Median Earnings
$1,021
Median Rent
$300,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Historic-designated property offering residential, office, and boutique commercial use potential.
Where is this duplex located?
The property is located at 2721 E Fort Lowell Rd Tucson, AZ.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,818 square feet, built in 1952; Each unit includes 2 bedrooms and 1 bathroom; Historic‑designated property in the Winterhaven Historic District
