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    Kino Pkwy & Park Ave Tucson, AZ 85713

    Sponsored
    For Lease
    Contact for pricing

    High-traffic retail space, diverse uses.

    Lot size:
    697,187 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    The Marketplace at the Bridges, located in Tucson, Arizona at the intersection of Kino Parkway and Park Avenue (zip code 85713), presents a unique investment opportunity. This vibrant mixed-use center offers a total of 697,187 square feet of retail space situated on a substantial 114-acre lot. The property is categorized as retail and land, encompassing commercial, entertainment, and employment hub components. Multiple tenancies are available, providing flexibility for various business types. Spaces range from a minimum divisible unit of 1,012 square feet to a maximum contiguous space of 34,000 square feet, catering to a wide spectrum of tenant needs. Currently, 35,012 square feet of space is vacant, presenting immediate leasing potential. The property's prime location in Pima County ensures high visibility and accessibility, making it an ideal location for businesses seeking strong foot traffic and exposure. The property is available for both lease and sale, offering diverse investment options. This dynamic center provides a compelling opportunity to establish or expand a business within a thriving commercial environment. The property's size and diverse offerings make it suitable for a variety of retail, entertainment, and employment-related ventures.

    Property Features for 0 Kino Pkwy & Park Ave

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    697,187 SF

    Unit(s) available at that property

    Space
    Suite E100
    Size
    1,416 SF
    Space
    Suite E103
    Size
    1,012 SF
    Space
    Parcel 1A
    Size
    1 SF
    Space
    Parcel 1B
    Size
    108,900 SF
    Space
    Parcel 2A
    Size
    29,185 SF
    Space
    Parcel 2
    Size
    39,204 SF
    Space
    Parcel 3
    Size
    193,842 SF
    Space
    Parcel 3A
    Size
    121,097 SF
    Space
    Parcel 5
    Size
    94,961 SF
    Space
    Available Parcel
    Size
    34,000 SF

    We can help!

    Listing Contact
    Brenna Lacey
    Brenna Lacey

    Learn more

    HighLights

    • ±114‑acre mixed‑use commercial property, part of a 400‑acre master plan.
    • Located at two freeway interchanges in Tucson's metro area.
    • Strong retail synergy with nearby Costco, Walmart, and Bass Pro Shops.
    • Adjacent to a new 200,000 SF Geico regional headquarters.
    • Proximity to a new University of Arizona tech park under construction.
    • Excellent visibility and access from I‑10, Kino Parkway, and Park Avenue.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -74.352714
    Latitude
    41.252306

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    FAQs

    What type of property is this?
    Land - High-traffic retail space, diverse uses.
    Where is this land located?
    The property is located at Kino Pkwy & Park Ave Tucson, AZ.
    What are key features of this property?
    This property features: ±114-acre mixed-use commercial property, part of a 400-acre master plan.; Located at two freeway interchanges in Tucson's metro area.; Strong retail synergy with nearby Costco, Walmart, and Bass Pro Shops.
    Request Owner's contact information
    Kino Pkwy & Park Ave Tucson, AZ 85713
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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
    Kino Pkwy & Park Ave Tucson, AZ 85713
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    We can help!
    Listing Contact
    Brenna Lacey
    Brenna Lacey
    Real Estate License ID: AZ SA022614000
    Learn more
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