Elevator-Served Office
For Sale
Contact for pricing
675 E River Rd, Tucson, AZ 85718
Flexible office space offers open floorplates, fiber-optic service, and shared landscaped courtyards.
Property Size14,000 SF
Price / SF$195
Days on Market214
Property Features for 675 E River Rd
General Information
Standard status
Active
Size
14,000 SF
Elevators
Yes
Property subtype
OFFICE
Additional Details
Office Units
17
Amenities
open floorplates
highly visible signage
over 60 restaurants nearby
large IT room
open bullpen space
windows on all four sides
mountain views
two private, landscaped courtyards
fiber-optic service
common restrooms
Listing Agency:
Volk Company Commercial Real Estate
(520) 235-3000
Listed By:
Dave Volk
(520) 235-3000
Source:
Moodyscre
Added: Jan 28
Changed: Aug 30
Last Checked: Aug 30 at 12:00AM
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.
The 14,000-square-foot office property at 675 E River Rd includes 17 offices, a substantial IT room, and open bullpen areas. Windows on all four sides bring natural light throughout the building, while mountain views add a distinctive setting. The layout is configured for immediate occupancy and includes common restrooms.
Two private, landscaped courtyards serve the surrounding buildings. Elevator service, fiber-optic connectivity, and highly visible signage support day-to-day office operations. More than 60 restaurants are located nearby, adding convenient dining options for occupants and visitors.
Two private, landscaped courtyards serve the surrounding buildings. Elevator service, fiber-optic connectivity, and highly visible signage support day-to-day office operations. More than 60 restaurants are located nearby, adding convenient dining options for occupants and visitors.
Key Highlights
- 14,000‑square‑foot office property at 675 E River Rd, Tucson, AZ 85718
- 17 offices plus a large IT room and open bullpen space
- Windows on all four sides with mountain views
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
$204,574
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
7.49%
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%
$4,091,480
$4.1M
Cap Rate 7%
$2,922,486
$2.9M
Cap Rate 9%
$2,273,044
$2.3M
Market Conditions
NOI Build-Up for 14,000 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
$302.4K $21.60/SF
− Vacancy
−$29.6K −$2.12/SF
EGI
$272.8K $19.48/SF
− OpEx
−$68.2K −$4.87/SF
NOI
$204.6K $14.61/SF
Area
Tucson, AZ
Vacancy
9.80%
Lease Rate
$21.60 /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%
$4,091,480
Cap Rate 7%
$2,922,486
Cap Rate 9%
$2,273,044
Alternative Uses
Best Use
Office B
$2.92M
$2.56M – $3.41M
NOI $204,574 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.64M
$3.18M – $4.24M
NOI $254,580 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Office units
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 85718, AZ
28,706
Population
15,138
Households
1.9
Avg Household Size
54
Median Age
72%
College-Educated
98%
High-School Grad
23.6 sq mi
ZIP Area
1,216
Density / Sq Mi
$112,664
Median Household Income
$59,240
Median Earnings
$1,224
Median Rent
$677,400
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 - Flexible office space offers open floorplates, fiber-optic service, and shared landscaped courtyards.
Where is this office building located?
The property is located at 675 E River Rd Tucson, AZ.
What is the asking price?
The asking price for this property is $2,730,000.
What are key features of this property?
This property features: 14,000‑square‑foot office property at 675 E River Rd, Tucson, AZ 85718; 17 offices plus a large IT room and open bullpen space; Windows on all four sides with mountain views
