Multifamily Property with Central
For Sale
$414,999
380 E Corona Road, Tucson, AZ 85756
Tucson - R2 zoning supports a residential multifamily property with granite counters and high-speed internet.
Property Size1,882 SF
Price / SF$220.51
Days on Market52
Property Features for 380 E Corona Road
General Information
Standard status
Active
Size
1,882 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
Tucson - R2
Net Operating Income
$31,500
Amenities
Central Air
Heat Pump
Electric Range, Electric Water Heater
Granite Counters, High Speed Internet
Modern
Building Details
Building Size
1,882 SF
Year Built
2026
Listing Agency:
Realty Executives Arizona Territory
(520) 237-5607
Listed By:
Eddie D Watters
(520) 237-5607
Source:
Evrealestate
Added: Jun 22
Changed: Aug 9
Last Checked: Aug 12 at 5:06AM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This multifamily property at 380 E Corona Road in Tucson includes central air, a heat pump, granite counters, and high-speed internet. The property also features an electric range and electric water heater. Built in 2026, it offers recently constructed improvements within the Tucson - R2 zoning designation.
Access is available from Valencia via Old Nogales Highway, followed by westbound travel on Corona Road to the property.
Access is available from Valencia via Old Nogales Highway, followed by westbound travel on Corona Road to the property.
Key Highlights
- Built in 2026
- Tucson - R2 zoning
- Central air and heat pump
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
$19,338
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
4.66%
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%
$386,760
$386.8K
Cap Rate 7%
$276,257
$276.3K
Cap Rate 9%
$214,867
$214.9K
Market Conditions
NOI Build-Up for 1,882 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
$38.4K $20.40/SF
− Vacancy
−$3.2K −$1.72/SF
EGI
$35.2K $18.68/SF
− OpEx
−$15.8K −$8.41/SF
NOI
$19.3K $10.28/SF
Area
Tucson, AZ
Vacancy
8.42%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$386,760
Cap Rate 7%
$276,257
Cap Rate 9%
$214,867
Alternative Uses
Best Use
Apartment 5plus
$276.3K
$241.7K – $322.3K
NOI $19,338 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$488.9K
$427.8K – $570.4K
NOI $34,223 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 85756, AZ
35,345
Population
12,772
Households
2.8
Avg Household Size
36
Median Age
19%
College-Educated
83%
High-School Grad
93.7 sq mi
ZIP Area
377
Density / Sq Mi
$67,617
Median Household Income
$38,648
Median Earnings
$1,256
Median Rent
$210,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Tucson - R2 zoning supports a residential multifamily property with granite counters and high-speed internet.
Where is this multifamily property located?
The property is located at 380 E Corona Road Tucson, AZ.
What is the asking price?
The asking price for this property is $414,999.
What are key features of this property?
This property features: Built in 2026; Tucson - R2 zoning; Central air and heat pump
