Professional Office Plaza
For Sale
Contact for pricing
6246 E Pima St, Tucson, AZ 85712
Office plaza near hospitals, financial district, and residential areas.
Property Size3,561 SF
Price / SF$220.44
Days on Market720
Property Features for 6246 E Pima St
General Information
Standard status
Active
Size
3,561 SF
Class
B
Property subtype
Office
Zoning
O-3
Investment Type
Owner/User
Building Details
Year Built
2000
Stories
1
Units
1
Listing Agency:
Whirlygig Properties, LLC
Listed By:
Lynn Taylor · License #AZ
(520) 546-9003
Source:
Crexi
Added: Sep 27, 2024
Changed: Sep 11
Last Checked: Sep 16 at 4:03PM
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 Whirlygig Properties, LLC
Investment Insights
Based on property information with market context.
This property presents an opportunity for either an owner-user or an investor. It is situated within a professional office plaza that features a mix of medical and professional tenants. The location is strategic, offering close proximity to three major hospitals, the financial district, and several established retail centers. Additionally, the plaza is located near multiple large residential neighborhoods. The property provides ample parking for tenants and visitors, including designated covered parking spaces. The property size is 3,561 square feet.
Key Highlights
- Strategically located near three major hospitals, the financial district, and established retail centers.
- Excellent owner/user or investment opportunity in a professional office plaza.
- Strong mix of medical and professional tenants.
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
$52,035
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
6.63%
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%
$1,040,700
$1.0M
Cap Rate 7%
$743,357
$743.4K
Cap Rate 9%
$578,167
$578.2K
Market Conditions
NOI Build-Up for 3,561 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
$76.9K $21.60/SF
− Vacancy
−$7.5K −$2.12/SF
EGI
$69.4K $19.48/SF
− OpEx
−$17.3K −$4.87/SF
NOI
$52.0K $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%
$1,040,700
Cap Rate 7%
$743,357
Cap Rate 9%
$578,167
Alternative Uses
Best Use
Office B
$743.4K
$650.4K – $867.3K
NOI $52,035 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$925.1K
$809.4K – $1.08M
NOI $64,754 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,341
Businesses Nearby
Explore this area
Business Placement
Demographics for 85712, AZ
33,108
Population
18,215
Households
1.8
Avg Household Size
44
Median Age
37%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
4,869
Density / Sq Mi
$48,185
Median Household Income
$39,090
Median Earnings
$947
Median Rent
$250,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Tucson, AZ
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Frequently Asked Questions
What type of property is this?
Office building - Office plaza near hospitals, financial district, and residential areas.
Where is this office building located?
The property is located at 6246 E Pima St Tucson, AZ.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Strategically located near three major hospitals, the financial district, and established retail centers.; Excellent owner/user or investment opportunity in a professional office plaza.; Strong mix of medical and professional tenants.
