Flex Space with Office
For Sale
Contact for pricing
Pending
821 E 47th St, Tucson, AZ 85713
Fully built-out flex space with reception, offices, conference and break room, plus a small roll-up door warehouse.
Property Size7,373 SF
Days on Market137
Property Features for 821 E 47th St
General Information
Standard status
Pending
Size
7,373 SF
Class
C
Property subtype
Industrial, Office
Zoning
I-1
Building Details
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
Cushman & Wakefield PICOR Commercial Real Estate Services - Tucson, Arizona
Listed By:
Richard Kleiner · License #AZ SA111637000
Source:
Crexi
Added: Apr 22
Changed: Aug 25
Last Checked: Aug 14 at 7:51AM
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 Cushman & Wakefield PICOR Commercial Real Estate Services - Tucson, Arizona
Investment Insights
Based on property information with market context.
This fully built-out flex space includes a reception area and lobby, 14 offices, a conference room, a break room, and two multipurpose rooms (one with a kitchen). The layout also features four restrooms and a small warehouse component with a roll-up door. Parking is available at the door, supporting convenient everyday access.
The property is located with convenient access just 1 minute from Interstate 10. The parcel is designated under zoning I-1.
As configured, the space combines substantial office improvements with a compact warehouse area, making it suitable for users needing both work space and light distribution or storage through a roll-up door.
The property is located with convenient access just 1 minute from Interstate 10. The parcel is designated under zoning I-1.
As configured, the space combines substantial office improvements with a compact warehouse area, making it suitable for users needing both work space and light distribution or storage through a roll-up door.
Key Highlights
- 1979‑built flex space fully built out with reception and lobby area
- Includes 14 offices plus conference room and break room
- Two multipurpose rooms, with 1 room featuring a kitchen
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
$87,060
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
5.80%
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%
$1,741,200
$1.7M
Cap Rate 7%
$1,243,714
$1.2M
Cap Rate 9%
$967,333
$967.3K
Market Conditions
NOI Build-Up for 7,373 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
$141.6K $19.20/SF
− Vacancy
−$25.5K −$3.46/SF
EGI
$116.1K $15.74/SF
− OpEx
−$29.0K −$3.94/SF
NOI
$87.1K $11.81/SF
Area
ZIP 85713
Vacancy
18.00%
Lease Rate
$19.20 /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%
$1,741,200
Cap Rate 7%
$1,243,714
Cap Rate 9%
$967,333
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $87,060 @ 7.0% cap · market cap 5.80%
Second Best
Flex RnD
$982.6K
$859.8K – $1.15M
NOI $68,781 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.80M
$1.58M – $2.11M
NOI $126,344 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85713, AZ
46,810
Population
19,056
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
79%
High-School Grad
23.8 sq mi
ZIP Area
1,967
Density / Sq Mi
$50,264
Median Household Income
$32,302
Median Earnings
$1,017
Median Rent
$171,700
Median Home Value
Market
Vacancy Rate% for Office in Tucson, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Fully built-out flex space with reception, offices, conference and break room, plus a small roll-up door warehouse.
Where is this flex space located?
The property is located at 821 E 47th St Tucson, AZ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 1979‑built flex space fully built out with reception and lobby area; Includes 14 offices plus conference room and break room; Two multipurpose rooms, with 1 room featuring a kitchen
