Neighborhood Retail Center with
4282 N FIRST AVE Tucson, AZ 85719
For Sale
Contact for pricing
Rillito Crossing is a neighborhood retail center with remaining pad and small shop vacancy for lease-up.
Property Size97,374 SF
Price / SF$342.49
Days on Market83
Property Features for 4282 N FIRST AVE
General Information
Standard status
Active
Size
97,374 SF
Property subtype
Retail
Building Details
Year Built
2008
Listing Agency:
ARROW REIS
Listed By:
Sanford Burstyn · License #BR012858000
Source:
Crexi
Added: May 8
Changed: Jul 23
Last Checked: Jul 28 at 6:53AM
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 ARROW REIS
Investment Insights
Based on property information with market context.
Rillito Crossing is a neighborhood retail center with remaining pad and small shop vacancy, offering an immediate opportunity for lease-up within an otherwise stabilized retail environment. The property also includes a vacant land pad opportunity with the ability to bifurcate, supporting the introduction of a new user into the established center ecosystem.
Located at 4282 N First Ave in Tucson, the center sits along a major north-south arterial that serves as a primary retail spine for surrounding neighborhoods. The corridor is anchored by daily-needs and service-oriented tenants, including grocery and other necessity-based uses, which is intended to support consistent, repeat customer demand.
With limited new retail supply in the surrounding area, Rillito Crossing is positioned to align with area demographics and spending patterns for long-term neighborhood retail performance.
Located at 4282 N First Ave in Tucson, the center sits along a major north-south arterial that serves as a primary retail spine for surrounding neighborhoods. The corridor is anchored by daily-needs and service-oriented tenants, including grocery and other necessity-based uses, which is intended to support consistent, repeat customer demand.
With limited new retail supply in the surrounding area, Rillito Crossing is positioned to align with area demographics and spending patterns for long-term neighborhood retail performance.
Key Highlights
- Neighborhood retail center with remaining pad and small shop vacancy for lease‑up
- Year built: 2008
- Vacant land pad opportunity with potential to add a tenant and potentially bifurcate the pad for added revenue streams
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.40M | $14.40 |
| − Vacancy | −$79.9k | −$0.82 |
| EGI | $1.32M | $13.58 |
| − OpEx | −$330.6k | −$3.39 |
| NOI | $991.7k | $10.18 |
97,374 SF · lease $14.40/SF/yr · vacancy 5.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$14.17M
$12.40M – $16.53M
NOI $991,696 @ 7.0% cap · market cap 2.97%
Second Best
Retail
$13.22M
$11.57M – $15.43M
NOI $925,583 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$25.30M
$22.13M – $29.51M
NOI $1,770,680 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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Frequently Asked Questions
What type of property is this?
Shopping center - Rillito Crossing is a neighborhood retail center with remaining pad and small shop vacancy for lease-up.
Where is this shopping center located?
The property is located at 4282 N FIRST AVE Tucson, AZ.
What is the asking price?
The asking price for this property is $33,350,000.
What are key features of this property?
This property features: Neighborhood retail center with remaining pad and small shop vacancy for lease‑up; Year built: 2008; Vacant land pad opportunity with potential to add a tenant and potentially bifurcate the pad for added revenue streams
