Refrigerated Cold Storage
For Sale
$2,750,000
3360 E Ajo Way, Tucson, AZ 85713
Industrial building with west-side cold storage and dedicated enclosed office space.
Property Size30,000 SF
Price / SF$91.67
Days on Market271
Property Features for 3360 E Ajo Way
General Information
Standard status
Active
Size
30,000 SF
Property subtype
General Commercial
Warehouse & Industrial
Office Build-Out
3,500 SF
Cold Storage
Yes
Taxes and HOA fees
Annual Taxes
$22,134
Amenities
3
135' X 595', 1.7100000381469727
Building Details
Year Built
1972
Listing Agency:
(520) 878-8424
Listed By:
David Lee Real Estate Company
(520) 878-8424
Source:
Xome
Added: Dec 3, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:48AM
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 David Lee Real Estate Company
Investment Insights
Based on property information with market context.
The 30,000-square-foot facility in Tucson was built in 1972 and includes refrigerated storage across the western half of the building. Enclosed office areas account for 3,500 square feet, providing a separate administrative component within the property. The building previously served as an EEGEE's commissary and corporate office.
Located at 3360 E Ajo Way, the property occupies a 1.7100000381469727-acre site measuring 135' X 595'. Its combination of cold-storage infrastructure and substantial office area supports continued use as a refrigerated storage and administrative facility, subject to applicable approvals and operational requirements.
Located at 3360 E Ajo Way, the property occupies a 1.7100000381469727-acre site measuring 135' X 595'. Its combination of cold-storage infrastructure and substantial office area supports continued use as a refrigerated storage and administrative facility, subject to applicable approvals and operational requirements.
Key Highlights
- 30,000‑square‑foot refrigerated and cold‑storage facility
- Cold storage occupies the west half of the building
- 3,500 square feet of enclosed offices
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
$219,173
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
7.97%
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%
$4,383,460
$4.4M
Cap Rate 7%
$3,131,043
$3.1M
Cap Rate 9%
$2,435,256
$2.4M
Market Conditions
NOI Build-Up for 30,000 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
$270.0K $9.00/SF
− Vacancy
−$12.2K −$0.41/SF
EGI
$257.9K $8.59/SF
− OpEx
−$38.7K −$1.29/SF
NOI
$219.2K $7.31/SF
Area
ZIP 85713
Vacancy
4.50%
Lease Rate
$9.00 /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%
$4,383,460
Cap Rate 7%
$3,131,043
Cap Rate 9%
$2,435,256
Alternative Uses
Best Use
Office B
$5.06M
$4.43M – $5.90M
NOI $354,240 @ 7.0% cap · market cap 12.88%
Second Best
Warehouse
$3.13M
$2.74M – $3.65M
NOI $219,173 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$7.34M
$6.43M – $8.57M
NOI $514,080 @ 7.0% cap · market cap 18.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,507
Businesses Nearby
Explore this area
Business Placement
Demographics for 85713, AZ
46,810
Population
19,056
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
79%
High-School Grad
23.8 sq mi
ZIP Area
1,967
Density / Sq Mi
$50,264
Median Household Income
$32,302
Median Earnings
$1,017
Median Rent
$171,700
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?
Refrigerated & cold storage - Industrial building with west-side cold storage and dedicated enclosed office space.
Where is this refrigerated & cold storage located?
The property is located at 3360 E Ajo Way Tucson, AZ.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 30,000‑square‑foot refrigerated and cold‑storage facility; Cold storage occupies the west half of the building; 3,500 square feet of enclosed offices
