Commercial Lot with Updated
For Sale
$350,000
3219 N Flowing Wells Road, Tucson, AZ 85705
Commercial lot with updated office space available for sale.
Property Size1,576 SF
Price / SF$222.08
Days on Market283
Property Features for 3219 N Flowing Wells Road
General Information
Standard status
Active
Size
1,576 SF
Property subtype
Commercial
Zoning
Tucson - C1
Taxes and HOA fees
Annual Taxes
$3,577
Building Details
Building Size
1,576 SF
Year Built
1959
Listing Agency:
Engel & Volkers Tucson
(520) 270-2558
Listed By:
Brenden Urias Buono
(520) 270-2558
Source:
Canteraland
Added: Nov 14, 2025
Changed: Aug 23
Last Checked: Aug 23 at 10:17AM
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 Engel & Volkers Tucson
Investment Insights
Based on property information with market context.
This commercial property features a large lot and an updated office space. The property has previously been used as both a car lot and an accountant's office. The office space provides a functional area within the larger commercial lot, offering potential for various business uses. The property encompasses a total area of 1576 square feet.
Key Highlights
- Large commercial lot ready for development or use
- Updated office space ideal for various business needs
- Versatile use allows for a car lot, accountant office, or other ventures
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
$18,138
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
5.18%
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%
$362,760
$362.8K
Cap Rate 7%
$259,114
$259.1K
Cap Rate 9%
$201,533
$201.5K
Market Conditions
NOI Build-Up for 1,576 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
$31.2K $19.80/SF
− Vacancy
−$7.0K −$4.46/SF
EGI
$24.2K $15.35/SF
− OpEx
−$6.0K −$3.84/SF
NOI
$18.1K $11.51/SF
Area
ZIP 85705
Vacancy
22.50%
Lease Rate
$19.80 /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%
$362,760
Cap Rate 7%
$259,114
Cap Rate 9%
$201,533
Alternative Uses
Best Use
Office B
$259.1K
$226.7K – $302.3K
NOI $18,138 @ 7.0% cap · market cap 5.18%
Second Best
Retail
$220.5K
$193.0K – $257.3K
NOI $15,437 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$362.7K
$317.3K – $423.1K
NOI $25,386 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
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?
Parking lot & garage - Commercial lot with updated office space available for sale.
Where is this parking lot & garage located?
The property is located at 3219 N Flowing Wells Road Tucson, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Large commercial lot ready for development or use; Updated office space ideal for various business needs; Versatile use allows for a car lot, accountant office, or other ventures
