Multi-Tenant Retail Shopping
For Sale
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4215 North Oracle Road, Tucson, AZ 85705
Fully leased center with national retail tenants along an established Tucson commercial corridor.
Property Size93,005 SF
Price / SF$194.61
Days on Market8
Property Features for 4215 North Oracle Road
General Information
Standard status
Active
Size
93,005 SF
Property subtype
Retail
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$1,312,197
Building Details
Year Built
1995
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Phoenix, Arizona
(602) 224-4475
Listed By:
Chris Hollenbeck · License #SA584876000
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 10 at 10:36AM
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 Cushman & Wakefield - Phoenix, Arizona
Investment Insights
Based on property information with market context.
Tucson Fiesta is a multi-tenant retail shopping center containing approximately 93,005 square feet on ±7.04 acres. Built in 1995, the property is fully leased to Burlington, Bob’s Discount Furniture, and PGA TOUR Superstore, representing off-price retail, furniture, and specialty sporting goods uses. The tenant roster is supported by an approximately 4.1-year weighted average lease term, and tenants have made substantial capital investments at the center. Current rents are below market, creating mark-to-market potential as leases mature.
The center is positioned on North Oracle Road, where traffic counts exceed 43,000 vehicles per day. It is directly across from Tucson Mall, which includes more than 170 stores and anchors such as Dillard’s, Macy’s, and JCPenney. The surrounding retail environment includes Tucson Auto Mall, Panda Express, Raising Cane’s, and Bank of America. More than 230,000 residents live within five miles, with average household incomes exceeding $92,000.
The center is positioned on North Oracle Road, where traffic counts exceed 43,000 vehicles per day. It is directly across from Tucson Mall, which includes more than 170 stores and anchors such as Dillard’s, Macy’s, and JCPenney. The surrounding retail environment includes Tucson Auto Mall, Panda Express, Raising Cane’s, and Bank of America. More than 230,000 residents live within five miles, with average household incomes exceeding $92,000.
Key Highlights
- Approximately 93,005‑square‑foot shopping center on ±7.04 acres
- 100% leased to Burlington, Bob’s Discount Furniture, and PGA TOUR Superstore
- Approximately 4.1‑year weighted average lease term
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
$911,006
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
5.03%
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%
$18,220,120
$18.2M
Cap Rate 7%
$13,014,371
$13.0M
Cap Rate 9%
$10,122,289
$10.1M
Market Conditions
NOI Build-Up for 93,005 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
$1.45M $15.60/SF
− Vacancy
−$149.4K −$1.61/SF
EGI
$1.30M $13.99/SF
− OpEx
−$390.4K −$4.20/SF
NOI
$911.0K $9.80/SF
Area
ZIP 85705
Vacancy
10.30%
Lease Rate
$15.60 /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%
$18,220,120
Cap Rate 7%
$13,014,371
Cap Rate 9%
$10,122,289
Alternative Uses
Best Use
Retail
$13.01M
$11.39M – $15.18M
NOI $911,006 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.40M
$18.73M – $24.97M
NOI $1,498,110 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
500k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 28%
Superstores 25%
Dining 24%
Apparel 14%
Target
Superstores
124,414 visits/mo
0.2 miles
Raising Cane's Chicken Fingers
Dining
64,368 visits/mo
0.5 miles
Michaels
Shops & Services
40,239 visits/mo
0.3 miles
Burlington
Apparel
35,159 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
27,294 visits/mo
0.3 miles
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 Retail in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased center with national retail tenants along an established Tucson commercial corridor.
Where is this shopping center located?
The property is located at 4215 North Oracle Road Tucson, AZ.
What is the asking price?
The asking price for this property is $18,100,000.
What are key features of this property?
This property features: Approximately 93,005‑square‑foot shopping center on ±7.04 acres; 100% leased to Burlington, Bob’s Discount Furniture, and PGA TOUR Superstore; Approximately 4.1‑year weighted average lease term
