Broadway Boulevard Office Building For
For Sale
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2819 E Broadway Blvd, Tucson, AZ 85716
Single-tenant office building near Downtown Tucson and University of Arizona.
Property Size3,049 SF
Price / SF$188.59
Days on Market152
Property Features for 2819 E Broadway Blvd
General Information
Standard status
Active
Size
3,049 SF
Class
C
Property subtype
Office
Zoning
C-1, City of Tucson
Building Details
Year Built
1986
Buildings
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield PICOR Commercial Real Estate Services - Tucson, Arizona
Listed By:
Molly Mary Gilbert, CCIM · License #AZ SA683144000
Source:
Crexi
Added: Mar 24
Changed: Aug 18
Last Checked: Aug 21 at 9:00PM
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 Cushman & Wakefield PICOR Commercial Real Estate Services - Tucson, Arizona
Investment Insights
Based on property information with market context.
This single-tenant office building is situated along the Sunshine Mile Central Broadway corridor. The location provides access to numerous dining, retail, and service amenities within walking distance. The building features direct elevator access from under-building covered parking to the office level; pricing has been adjusted to account for needed elevator upgrades. Located on Broadway Boulevard, the property benefits from a major bus route, offering transit access for employees and visitors. Its location is conveniently close to Downtown Tucson and the University of Arizona. The property includes 16 on-site parking spaces, with 12 covered. The building contains 3,049 square feet and is suitable for professional and institutional users.
Key Highlights
- Prime Sunshine Mile location on Broadway Blvd, near dining, retail, and services.
- 16 on‑site parking spaces (12 covered), a strong ratio for the area.
- Direct elevator access from covered parking to the office level.
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
$44,553
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
7.75%
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%
$891,060
$891.1K
Cap Rate 7%
$636,471
$636.5K
Cap Rate 9%
$495,033
$495.0K
Market Conditions
NOI Build-Up for 3,049 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
$65.9K $21.60/SF
− Vacancy
−$6.5K −$2.12/SF
EGI
$59.4K $19.48/SF
− OpEx
−$14.9K −$4.87/SF
NOI
$44.6K $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%
$891,060
Cap Rate 7%
$636,471
Cap Rate 9%
$495,033
Alternative Uses
Best Use
Office B
$636.5K
$556.9K – $742.6K
NOI $44,553 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$792.1K
$693.1K – $924.1K
NOI $55,444 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,020
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 Office in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-tenant office building near Downtown Tucson and University of Arizona.
Where is this office building located?
The property is located at 2819 E Broadway Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Prime Sunshine Mile location on Broadway Blvd, near dining, retail, and services.; 16 on‑site parking spaces (12 covered), a strong ratio for the area.; Direct elevator access from covered parking to the office level.
