Multi-Tenant Office
New
For Sale
Contact for pricing
6502 East Speedway Boulevard, Tucson, AZ 85710
Four suites offer adaptable layouts, including two kitchenettes and a full bathroom with shower.
Property Size2,532 SF
Lot Size0.70 Acres
Price / SF$246.84
Days on Market5
Property Features for 6502 East Speedway Boulevard
General Information
Standard status
Active
Size
2,532 SF
Class
C
Total Parking Spaces
15
Lot size
0.70 Acres
Property subtype
Office
Zoning
O-1
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$34,828
Additional Details
Road Access
Yes
Office Units
4
Building Details
Year Built
1978
Year Renovated
2023
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Ryco Properties, LLC
Listed By:
Ryan Johnson · License #BR640096000
Source:
Crexi
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 6:47AM
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 Ryco Properties, LLC
Investment Insights
Based on property information with market context.
This 2,532-square-foot office property occupies approximately 0.70 acres and is zoned O-1 by the City of Tucson. The building contains four suites, with one currently used as a residential unit by an on-site tenant who provides property oversight. Interior layouts combine open work areas with private offices; two suites have kitchenettes, and one includes a full bathroom with a shower. Two detached storage garage units add additional usable space.
Capital improvements were completed during 2023 and 2024, including a new independently serving HVAC system for each office suite. The site includes 14 standard parking spaces, one ADA-accessible space, and additional overflow parking along the east driveway and rear of the property. Located at 6502 East Speedway Boulevard, immediately east of Wilmot Road, the property is near restaurants, coffee shops, retail centers, financial institutions, and medical services.
Capital improvements were completed during 2023 and 2024, including a new independently serving HVAC system for each office suite. The site includes 14 standard parking spaces, one ADA-accessible space, and additional overflow parking along the east driveway and rear of the property. Located at 6502 East Speedway Boulevard, immediately east of Wilmot Road, the property is near restaurants, coffee shops, retail centers, financial institutions, and medical services.
Key Highlights
- 100% leased four‑suite office building on approximately 0.70 acres
- 2,532 SF building with two detached storage garage units
- O‑1 zoning in the City of 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
$35,549
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
5.69%
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%
$710,980
$711.0K
Cap Rate 7%
$507,843
$507.8K
Cap Rate 9%
$394,989
$395.0K
Market Conditions
NOI Build-Up for 2,532 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
$60.8K $24.00/SF
− Vacancy
−$13.4K −$5.28/SF
EGI
$47.4K $18.72/SF
− OpEx
−$11.8K −$4.68/SF
NOI
$35.5K $14.04/SF
Area
ZIP 85710
Vacancy
22.00%
Lease Rate
$24.00 /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%
$710,980
Cap Rate 7%
$507,843
Cap Rate 9%
$394,989
Alternative Uses
Best Use
Office B
$507.8K
$444.4K – $592.5K
NOI $35,549 @ 7.0% cap · market cap 5.69%
Second Best
Mixed Use
$429.7K
$376.0K – $501.3K
NOI $30,080 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$693.6K
$606.9K – $809.2K
NOI $48,554 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 85710, AZ
57,381
Population
28,463
Households
2
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
12.0 sq mi
ZIP Area
4,782
Density / Sq Mi
$54,738
Median Household Income
$36,892
Median Earnings
$1,169
Median Rent
$245,900
Median Home Value
Market
Vacancy Rate% for Office in Tucson, AZ
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Four suites offer adaptable layouts, including two kitchenettes and a full bathroom with shower.
Where is this office building located?
The property is located at 6502 East Speedway Boulevard Tucson, AZ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 100% leased four‑suite office building on approximately 0.70 acres; 2,532 SF building with two detached storage garage units; O‑1 zoning in the City of Tucson
