Two-Building Medical Office
For Sale
$2,250,000
660 North Craycroft Road, Tucson, AZ 85711
Two separate buildings provide medical-office space with C-1 and O-3 zoning across the portfolio.
Property Size15,233 SF
Price / SF$147.71
Days on Market48
Property Features for 660 North Craycroft Road
General Information
Standard status
Active
Size
15,233 SF
Property subtype
Healthcare
Zoning
C-1; O-3
Site & Location
Neighborhood
Mitman
Public Transit
Yes
Building Details
Buildings
2
Listing Agency:
CBRE - Tucson
Listed By:
Jeff Casper · License #632063
(520) 323-5181
Source:
Cbre
Added: Sep 20
Changed: Nov 5
Last Checked: Nov 6 at 7:10AM
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 CBRE - Tucson
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Investment Insights
Based on property information with market context.
This medical office portfolio includes two properties on North Craycroft Road. The building at 620 N Craycroft Rd is a two-story structure totaling approximately 11,817 SF, with about 5,908 SF on each floor, and is zoned C-1. The 660-662 N Craycroft Rd building is a single-story property containing approximately 3,416 SF and carries O-3 zoning. Combined building area is approximately 15,233 SF.
The properties are located approximately 1.2 miles from St. Joseph’s Hospital and 1.6 miles from Tucson Medical Center. The surrounding area includes a concentration of medical and professional offices, with Williams Centre approximately 0.7 miles away and Park Place Mall approximately 0.9 miles away. Sun Tran provides direct bus service to the area.
The properties are located approximately 1.2 miles from St. Joseph’s Hospital and 1.6 miles from Tucson Medical Center. The surrounding area includes a concentration of medical and professional offices, with Williams Centre approximately 0.7 miles away and Park Place Mall approximately 0.9 miles away. Sun Tran provides direct bus service to the area.
Key Highlights
- Two‑building portfolio totaling approximately 15,233 SF
- 620 N Craycroft Rd: two‑story building with ±11,817 SF and ±5,908 SF per floor
- 660‑662 N Craycroft Rd: single‑story building with ±3,416 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,904
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,058,080
$4.1M
Cap Rate 7%
$2,898,629
$2.9M
Cap Rate 9%
$2,254,489
$2.3M
Market Conditions
NOI Build-Up for 15,233 SF
Gross rent
$365.6K $24.00/SF
− Vacancy
−$27.4K −$1.80/SF
EGI
$338.2K $22.20/SF
− OpEx
−$135.3K −$8.88/SF
NOI
$202.9K $13.32/SF
Area
Tucson, AZ
Vacancy
7.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,058,080
Cap Rate 7%
$2,898,629
Cap Rate 9%
$2,254,489
Alternative Uses
Best Use
Office B
$3.18M
$2.78M – $3.71M
NOI $222,591 @ 7.0% cap · market cap 9.89%
Second Best
Healthcare Medical
$2.90M
$2.54M – $3.38M
NOI $202,904 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$3.96M
$3.46M – $4.62M
NOI $277,002 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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
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Market
Vacancy Rate% for Office in Tucson, AZ
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two separate buildings provide medical-office space with C-1 and O-3 zoning across the portfolio.
Where is this medical office space located?
The property is located at 660 North Craycroft Road Tucson, AZ.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Two‑building portfolio totaling approximately 15,233 SF; 620 N Craycroft Rd: two‑story building with ±11,817 SF and ±5,908 SF per floor; 660‑662 N Craycroft Rd: single‑story building with ±3,416 SF
