Office Building on 22nd
For Sale
Contact for pricing
6601 E 22ND ST, Tucson, AZ 85710
Office building with parking and private rear yard.
Property Size3,726 SF
Lot Size9,540.00 Acres
Price / SF$216.81
Days on Market96
Property Features for 6601 E 22ND ST
General Information
Standard status
Active
Size
3,726 SF
Class
B
Total Parking Spaces
21
Lot size
9,540.00 Acres
Property subtype
Office
Zoning
O-3
Investment Type
Owner/User
Building Details
Year Built
1968
Year Renovated
2005
Buildings
1
Stories
1
Units
1
Listing Agency:
Volk Company Commercial Real Estate
(520) 495-2238
Listed By:
David Volk · License #AZ BR027227000
Source:
Crexi
Added: May 19
Changed: Aug 21
Last Checked: Aug 21 at 7:55PM
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 Volk Company Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,726 square foot office building is situated on a 9,540 square foot lot. The property is zoned O-3 and includes over 20 parking spaces, with two points of ingress and egress. It features a private rear yard suitable for an outdoor break area. The building is equipped with fiber optic cabling and includes three ADA-compliant restrooms. The property benefits from prime frontage on 22nd Street, offering exceptional visibility.
Key Highlights
- Prime 22nd St Frontage with exceptional visibility
- O‑3 Zoned
- +20 Parking spaces with 2 points of ingress/egress
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
$52,313
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
6.48%
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%
$1,046,260
$1.0M
Cap Rate 7%
$747,329
$747.3K
Cap Rate 9%
$581,256
$581.3K
Market Conditions
NOI Build-Up for 3,726 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
$89.4K $24.00/SF
− Vacancy
−$19.7K −$5.28/SF
EGI
$69.8K $18.72/SF
− OpEx
−$17.4K −$4.68/SF
NOI
$52.3K $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%
$1,046,260
Cap Rate 7%
$747,329
Cap Rate 9%
$581,256
Alternative Uses
Best Use
Office B
$747.3K
$653.9K – $871.9K
NOI $52,313 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.1K – $1.19M
NOI $71,450 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
491
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 - Office building with parking and private rear yard.
Where is this office building located?
The property is located at 6601 E 22ND ST Tucson, AZ.
What is the asking price?
The asking price for this property is $807,840.
What are key features of this property?
This property features: Prime 22nd St Frontage with exceptional visibility; O‑3 Zoned; +20 Parking spaces with 2 points of ingress/egress
