Fenced Warehouse With Roll-Up
For Sale
$475,000
Pending
3121 E Columbia Street, Tucson, AZ 85714
Commercial Sale, Tucson, AZ
Property Size4,500 SF
Lot Size0.33 Acres
Days on Market1234
Property Features for 3121 E Columbia Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Pima County - CI1
Parking
15
Parking features
Fenced
Fencing
Chain Link
Lot features
Decorative Gravel, East/ West Exposure
Directions
I-10 to Ajo Way, then east on Ajo Way to Country Club, then south on Columbia
Subdivision
South
Standard status
Pending
APN
132-23-151A
Size
4,500 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
LOT 00025 BLOCK 00D INDUSTRIAL PARK SITE MAP 13 PLAT 56
Tax Annual Amount
6253
Legal Description
LOT 00025 BLOCK 00D INDUSTRIAL PARK SITE MAP 13 PLAT 56
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Cooling system
Evaporative Cooling
Water source
Public
Building Details
Year built
2004
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 877-4940
Listed By:
Christopher D Adams · License #SA672809000
(480) 399-2007
Added: Apr 19, 2023
Changed: Aug 19
Last Checked: Sep 3 at 5:06PM
MLS# 22308611
Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,500-square-foot steel warehouse was built in 2004 on a 0.33-acre lot. The building includes three roll-up garage doors, a lobby, half bathroom, electric water heater, two gas heaters, and two newer evaporative coolers. Ceiling heights range from 16 to 20 feet, and the property has 3-phase power. Metal siding and a metal roof complete the structure.
The site is fully enclosed with chain-link fencing and a front security gate. Public water and septic service are in place, with natural gas heating and evaporative cooling. Zoned Pima County - CI1, the property is located at 3121 E Columbia Street in Tucson. A long-term tenant currently occupies the building and would like to continue leasing.
The site is fully enclosed with chain-link fencing and a front security gate. Public water and septic service are in place, with natural gas heating and evaporative cooling. Zoned Pima County - CI1, the property is located at 3121 E Columbia Street in Tucson. A long-term tenant currently occupies the building and would like to continue leasing.
Key Highlights
- 4,500 SF steel warehouse on a 0.33‑acre lot
- Three roll‑up garage doors
- Ceiling heights range from 16'-20'
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
$39,597
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
8.34%
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%
$791,940
$791.9K
Cap Rate 7%
$565,671
$565.7K
Cap Rate 9%
$439,967
$440.0K
Market Conditions
NOI Build-Up for 4,500 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
$49.1K $10.92/SF
− Vacancy
−$2.6K −$0.57/SF
EGI
$46.6K $10.35/SF
− OpEx
−$7.0K −$1.55/SF
NOI
$39.6K $8.80/SF
Area
Tucson, AZ
Vacancy
5.20%
Lease Rate
$10.92 /SF/Yr
Expense Ratio
15.00%
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%
$791,940
Cap Rate 7%
$565,671
Cap Rate 9%
$439,967
Alternative Uses
Best Use
Warehouse
$565.7K
$495.0K – $660.0K
NOI $39,597 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,829 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,520
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Steel warehouse with secured yard, dedicated power, cooling equipment, and an existing tenant seeking continued occupancy.
Where is this warehouse located?
The property is located at 3121 E Columbia Street Tucson, AZ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 4,500 SF steel warehouse on a 0.33‑acre lot; Three roll‑up garage doors; Ceiling heights range from 16'-20'
