Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Warehouse in Arts District Title is generated by Realmo AI

    35 E Toole Ave, Tucson, AZ 85701

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Historic warehouse with customizable suites in downtown Tucson's arts district.

    Type:Restaurant, Retail
    Added:
    Jan 23, 2022
    Days on Market:
    1595
    Last Refresh:
    May 12 at 10:00 pm

    Property Features for 35 E Toole Ave

    General Information

    Standard status
    Active
    Property subtype
    Restaurant, Retail

    Spaces For Lease

    at 35 E Toole Ave Contact us

    Space 1 $20/Mo

    Size
    5,000 SF
    Type
    Restaurant, Retail
    Recently renovated historic warehouse building with tons of character. The ceilings...
    show more
    Contact us

    We can help!

    Listing Contact
    Zach Fenton

    Listing agent Zach Fenton License #BR573599000

    Listing office ZFI Holdings, LLC

    Listing date Jan 23, 2022

    Source Crexi

    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 ZFI Holdings, LLC

    HighLights

    • Recently renovated historic warehouse with customizable suites in shell condition.
    • Located in the heart of the warehouse arts district in Downtown Tucson.
    • High visibility location off Toole Avenue, near the Pima County Courthouse.
    • Anchored by BATA, one of America’s 50 Best New Restaurants.
    • 22' ceilings with exposed bowed trusses.
    • Parking available in surrounding surface lots and garages, including the Pima County garage across the street.

    Overview

    This recently renovated historic warehouse building, located in the heart of the warehouse arts district in Downtown Tucson, features approximately 22-foot ceilings with exposed bowed trusses. The building has new infrastructure, and the vacant suites are in shell condition, allowing for full customization. One of the suites is occupied by BATA, a restaurant. The property benefits from strong visibility off Toole Avenue, including visibility from the new Pima County Courthouse, which generates over 100,000 in foot traffic annually. Parking is available in surrounding surface lots and garages, with the closest garage being the Pima County garage directly across the street. The property is suitable for retail, restaurant, warehouse, and industrial uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    KR Designs (Bike/Boat/Book/etc) Store Dreamco Media, Inc. Marketing & Advertising Web Of Life Thrift ... Discount Store BATA Restaurant barbata Bar & Pub

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.971006
    Latitude
    32.22638

    Nearby Similar for Lease

    • $1,500/Mo
      6,287 SF

      Historic Office/Flex Property in Tucson

      Historic office/flex commercial property in the heart of downtown Tucson.
      376 S Stone Avenue, Tucson, AZ 85701
      View Details
    • $1,295/Mo
      200 SF

      Executive Office Suite For Rent

      First floor office suite with shared amenities in Tucson.
      3275 W Ina Road, Tucson, AZ 85741
      View Details
    • $1,195/Mo
      175 SF

      Tucson Executive Office Suites

      Full-service, furnished office suites for entrepreneurs and small businesses.
      3275 W Ina Road, Tucson, AZ 85741
      View Details
    • $3,250/Mo
      2,600 SF

      Versatile Commercial Space in Tucson

      2600 SF commercial space suitable for various business uses.
      2841 N Campbell Avenue, Tucson, AZ 85719
      View Details
    • $995/Mo
      160 SF

      Tucson Executive Office Suites

      Full-service executive office suites in Tucson, Arizona.
      3275 W Ina Road, Tucson, AZ 85741
      View Details
    • $1,995/Mo
      250 SF

      Furnished Office Space Available

      Collaborative workspace with furnished offices, dedicated desks, and virtual solutions.
      3275 W Ina Road, Tucson, AZ 85741
      View Details
    • $12 SF/Yr
      3,315 SF

      High-Traffic Retail Space Available

      Retail space with drive-thru in high-visibility Tucson location.
      2901 N Country Club Road, Tucson, AZ 85716
      View Details
    • $995/Mo
      165 SF

      Executive Office Suites For Rent

      Full-service executive office suites with easy access in Tucson.
      3275 W Ina Road, Tucson, AZ 85741
      View Details
    • $1,095/Mo
      175 SF

      Tucson Executive Office Suites

      Full-service, collaborative workspace with easy access in Tucson, AZ.
      3275 W Ina Road, Tucson, AZ 85741
      View Details
    • $4,000/Mo
      2,600 SF

      Renovated Commercial Building with Yard

      Turnkey 2,600 SF commercial space with C1 zoning.
      6470 E 22nd Street, Tucson, AZ 85710
      View Details
    • $4,400/Mo
      3,326 SF

      Historic 4th Avenue Retail Space

      Open retail/office space near streetcar, new housing, and iconic businesses.
      419 N 4th Avenue, Tucson, AZ 85705
      View Details
    • $22 SF/Yr
      57,481 SF

      Retail and Office Space Available

      Retail and office suites in established Tucson shopping center.
      1101 N Wilmot Road, Tucson, AZ 85712
      View Details

    FAQs

    What type of property is this?
    Retail space - Historic warehouse with customizable suites in downtown Tucson's arts district.
    Where is this retail space located?
    The property is located at 35 E Toole Ave Tucson, AZ.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Recently renovated historic warehouse with customizable suites in shell condition.; Located in the heart of the warehouse arts district in Downtown Tucson.; High visibility location off Toole Avenue, near the Pima County Courthouse.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Zach Fenton
    Real Estate License ID: BR573599000
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    35 E Toole Ave, Tucson, AZ 85701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!