Condominium Office
For Sale
Contact for pricing
7340 E Speedway Blvd, Tucson, AZ 85710
Condo office unit built in 2007, zoned O-3, City of Tucson, with parking calculated at 4.53 per 1,000 SF.
Property Size2,826 SF
Price / SF$336.16
Days on Market94
Property Features for 7340 E Speedway Blvd
General Information
Standard status
Active
Size
2,826 SF
Property subtype
OFFICE
Zoning
O-3
Lease Type
NNN
Building Details
Year Built
2007
Listing Agency:
CBRE | Tucson
(520) 323-5100
Listed By:
David Montijo
(520) 323-5136
Source:
Moodyscre
Added: Jun 12
Changed: Aug 14
Last Checked: Sep 13 at 11:47AM
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 CBRE | Tucson
Investment Insights
Based on property information with market context.
This for-sale condominium office space totals approximately 2,826 SF and was built in 2007. The offering is presented with a parking ratio of 4.53 spaces per 1,000 SF and is designated under O-3 zoning in the City of Tucson.
The property is located at 7340 E Speedway Blvd in Tucson, Arizona 85710. It is also presented with an indicated lease rate of $22.00/SF on a NNN basis, supporting use as an income-oriented office condominium.
As listed, the sale price is $950,000.
The property is located at 7340 E Speedway Blvd in Tucson, Arizona 85710. It is also presented with an indicated lease rate of $22.00/SF on a NNN basis, supporting use as an income-oriented office condominium.
As listed, the sale price is $950,000.
Key Highlights
- 2,826 SF condo office unit built in 2007
- Zoned O‑3, City of Tucson
- Lease rate of $22.00/SF on a NNN basis
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
$39,677
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
4.18%
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%
$793,540
$793.5K
Cap Rate 7%
$566,814
$566.8K
Cap Rate 9%
$440,856
$440.9K
Market Conditions
NOI Build-Up for 2,826 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
$67.8K $24.00/SF
− Vacancy
−$14.9K −$5.28/SF
EGI
$52.9K $18.72/SF
− OpEx
−$13.2K −$4.68/SF
NOI
$39.7K $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%
$793,540
Cap Rate 7%
$566,814
Cap Rate 9%
$440,856
Alternative Uses
Best Use
Office B
$566.8K
$496.0K – $661.3K
NOI $39,677 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$774.2K
$677.4K – $903.2K
NOI $54,191 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
620
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
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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 units - Condo office unit built in 2007, zoned O-3, City of Tucson, with parking calculated at 4.53 per 1,000 SF.
Where is this office units located?
The property is located at 7340 E Speedway Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,826 SF condo office unit built in 2007; Zoned O‑3, City of Tucson; Lease rate of $22.00/SF on a NNN basis
