Restaurant
New
For Sale
$3,728,400
4380 E 22nd St, Tucson, AZ 85711
The Tucson property provides a substantial footprint for restaurant use.
Property Size11,528 SF
Price / SF$323.42
Days on Market5
Property Features for 4380 E 22nd St
General Information
Standard status
Active
Size
11,528 SF
Property subtype
Restaurant
Lease Type
Absolute Net
Amenities
New 20-Year Absolute Triple-Net (NNN) Lease with Multi-Unit Golden Corral Franchisee (More Than 20 Locations in 10 States)
Longstanding Site - Golden Corral has Operated at This Location for More Than 30 Years - Strong Sales
Annual Rental Increases with Multiple Renewal Options
11,528 Square Feet Freestanding Restaurant Asset Situated on a Large 2.359-Acre Parcel
Golden Corral is One of the Nation's Largest Buffet Restaurant Concepts and a Long-Established Family Dining Brand with Approximately 350 Locations
Densely-Populated Tucson Trade Area with a Daytime Population of Nearly 400,000 People Within Five Miles
Building Details
Building Size
11,528 SF
Listing Agency:
Marcus & Millichap - Phoenix
Listed By:
Mark Ruble · License #License(s): AZ: SA550593000, NV: S.0192964
(602) 687-6766
Source:
Marcusmillichap
Added: Sep 28
Last Checked: Oct 1 at 8:07AM
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 Marcus & Millichap - Phoenix
Investment Insights
Based on property information with market context.
This restaurant property contains 11,528 square feet at 4380 E 22nd St in Tucson, Arizona.
Key Highlights
- 11,528‑square‑foot restaurant property at 4380 E 22nd St in Tucson
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
$117,406
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
3.15%
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%
$2,348,120
$2.3M
Cap Rate 7%
$1,677,229
$1.7M
Cap Rate 9%
$1,304,511
$1.3M
Market Conditions
NOI Build-Up for 11,528 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
$166.0K $14.40/SF
− Vacancy
−$9.5K −$0.82/SF
EGI
$156.5K $13.58/SF
− OpEx
−$39.1K −$3.39/SF
NOI
$117.4K $10.18/SF
Area
Tucson, AZ
Vacancy
5.70%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,348,120
Cap Rate 7%
$1,677,229
Cap Rate 9%
$1,304,511
Alternative Uses
Best Use
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,406 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,629 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
202k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 32%
Groceries 24%
Apparel 3%
Fry's
Groceries
49,187 visits/mo
0.3 miles
Circle K
Shops & Services
24,412 visits/mo
0.5 miles
Golden Corral
Dining
16,097 visits/mo
0.1 miles
Burger King
Dining
15,900 visits/mo
0.0 miles
Dollar Tree
Shops & Services
14,154 visits/mo
0.3 miles
Demographics for 85711, AZ
41,518
Population
19,774
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
4,828
Density / Sq Mi
$52,358
Median Household Income
$35,130
Median Earnings
$1,001
Median Rent
$248,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The Tucson property provides a substantial footprint for restaurant use.
Where is this conventional restaurant located?
The property is located at 4380 E 22nd St Tucson, AZ.
What is the asking price?
The asking price for this property is $3,728,400.
What are key features of this property?
This property features: 11,528‑square‑foot restaurant property at 4380 E 22nd St in Tucson
