Fenced Flex Space with
For Sale
$1,400,000
321 & 327 S Kino Pkwy S, Tucson, AZ 85719
I-1-zoned property with three-phase power, multiple access points, and existing showroom, warehouse, and fabrication areas.
Property Size9,482 SF
Price / SF$147.65
Days on Market24
Property Features for 321 & 327 S Kino Pkwy S
General Information
Standard status
Active
Size
9,482 SF
Property subtype
Commercial
Zoning
I-1
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Three-Phase Power
Yes
Building Details
Year Built
1972
Tenancy
Multi
Listing Agency:
Tierra Antigua Realty
(520) 336-2456
Listed By:
Patrick Teske · License #BR505976000
Source:
Arizonahomeselling
Added: Aug 5
Changed: Aug 28
Last Checked: Aug 28 at 1:12PM
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 Tierra Antigua Realty
Investment Insights
Based on property information with market context.
This 9,482-square-foot flex property, built in 1972, combines showroom, warehouse, and fabrication-shop areas within an existing commercial building. The property is enclosed by chain-link fencing and has three-phase power. Two sections are occupied by tenants on month-to-month arrangements, while the owner uses the remaining space for showroom, warehouse, and fabrication operations.
The offering consists of four separate parcels with access from S Kino Parkway and Norris, along with alley access on the north and south sides. The property has frontage on Kino Parkway and is zoned I-1. Its Tucson location provides access to the freeway and places the property near the University of Arizona, Aviation Parkway, and downtown Tucson.
The offering consists of four separate parcels with access from S Kino Parkway and Norris, along with alley access on the north and south sides. The property has frontage on Kino Parkway and is zoned I-1. Its Tucson location provides access to the freeway and places the property near the University of Arizona, Aviation Parkway, and downtown Tucson.
Key Highlights
- 9,482‑square‑foot flex property built in 1972
- Four separate parcels included: tax codes 129‑04‑2850, 129‑04‑2860, 129‑04‑2940, and 129‑04‑2950
- I‑1 zoning with three‑phase power
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
$90,131
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
6.44%
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%
$1,802,620
$1.8M
Cap Rate 7%
$1,287,586
$1.3M
Cap Rate 9%
$1,001,456
$1.0M
Market Conditions
NOI Build-Up for 9,482 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
$136.5K $14.40/SF
− Vacancy
−$7.8K −$0.82/SF
EGI
$128.8K $13.58/SF
− OpEx
−$38.6K −$4.07/SF
NOI
$90.1K $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%
$1,802,620
Cap Rate 7%
$1,287,586
Cap Rate 9%
$1,001,456
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.50M
NOI $90,131 @ 7.0% cap · market cap 6.44%
Second Best
Warehouse
$1.19M
$1.04M – $1.39M
NOI $83,435 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$2.46M
$2.16M – $2.87M
NOI $172,424 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Industrial in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - I-1-zoned property with three-phase power, multiple access points, and existing showroom, warehouse, and fabrication areas.
Where is this flex space located?
The property is located at 321 & 327 S Kino Pkwy S Tucson, AZ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 9,482‑square‑foot flex property built in 1972; Four separate parcels included: tax codes 129‑04‑2850, 129‑04‑2860, 129‑04‑2940, and 129‑04‑2950; I‑1 zoning with three‑phase power
