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    6701- Broadway Blvd Tucson, AZ 85710

    Sponsored
    For Lease
    $10 SF/Yr

    Executive Suites, Broadway Blvd, Tucson

    Lot size:
    26,498 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional commercial property, located at 6701-6763 E Broadway Blvd in Tucson, Arizona, offers a unique blend of retail and office space. The property boasts a total of 26,498 square feet situated on a generous 2.08-acre lot. Built in 1988 and zoned C-1, this multi-tenant building presents a compelling investment opportunity. Currently, there is 2,193 square feet of vacant space available, including one immediately available 1,253 square foot suite, ideal for a variety of businesses. The property's prime location on East Broadway Boulevard ensures high visibility and accessibility. Its executive office and storefront subtypes cater to a diverse range of potential tenants. The property's substantial size and flexible layout provide ample opportunities for expansion or customization. This well-maintained building presents a rare chance to acquire a significant commercial property in a thriving Tucson location. The property is situated in Pima County, Arizona, with a zip code of 85710. This is an excellent opportunity for investors seeking a strong return on investment in a desirable area. The property's existing infrastructure and ample parking provide a convenient and functional environment for tenants and customers alike. Don't miss this chance to secure a prominent commercial presence in Tucson's dynamic East Broadway corridor.

    Property Features for 6701- Broadway Blvd

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    26,498 SF
    Total Rate
    22081.67

    Building Details

    Year Built
    1988

    Unit(s) available at that property

    Space
    6735
    Size
    1,253 SF
    Rate per SF
    $10

    We can help!

    Listing Contact
    Gordon Wagner
    Gordon Wagner

    Learn more

    HighLights

    • Move‑in ready office suites with superior finishes.
    • Abundant on‑site parking.
    • Excellent street visibility.
    • Prime location on a major east‑west thoroughfare with a high concentration of residential units, including a large apartment community.
    • Triple Net (NNN) charges of $3.73 per square foot.
    • C‑1 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.84886879572
    Latitude
    32.221400173305

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    FAQs

    What type of property is this?
    Individual retail property - Executive Suites, Broadway Blvd, Tucson
    Where is this individual retail property located?
    The property is located at 6701- Broadway Blvd Tucson, AZ.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Move-in ready office suites with superior finishes.; Abundant on-site parking.; Excellent street visibility.
    Request Owner's contact information
    6701- Broadway Blvd Tucson, AZ 85710
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    Tucson, AZ 85710
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6701- Broadway Blvd Tucson, AZ 85710
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    We can help!
    Listing Contact
    Gordon Wagner
    Gordon Wagner
    Real Estate License ID: AZ BR500884000
    Learn more
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