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    The Largest CRE Database in the US with Over 1 Million Listings

    2302 Speedway Blvd Tucson, AZ 85719

    Sponsored
    For Lease
    $17 SF/Yr

    Tucson Medical & Office Suites Available

    Lot size:
    7,043 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    420
    This exceptional commercial property, located at 2302 E. Speedway Blvd in Tucson, Arizona, offers a prime opportunity for businesses seeking flexible office space. The building features multiple tenancies, with individual suites ranging from 643 to 1,670 contiguous square feet. A total of 8,713 square feet is currently vacant and available for lease. The property's ideal location in Pima County provides excellent visibility and signage opportunities on Speedway Boulevard, a high-traffic area. Its proximity to the University of Arizona and Banner University Medical Center makes it particularly attractive to medical practices and businesses serving the university community. The convenient location also offers easy access to a wide array of restaurants, services, and other amenities, enhancing the appeal for both employees and clients. This versatile space is suitable for a variety of uses, including medical offices and traditional office settings, making it an excellent investment for businesses seeking a strategic location with high visibility and accessibility. The zip code is 85719. Contact us today to learn more about leasing options and explore the possibilities this property offers.

    Property Features for 2302 Speedway Blvd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,043 SF

    Spaces For Lease

    at 2302 Speedway Blvd, Tucson, AZ 85719 Contact us
    Unit Suite 202

    $19 /Mo

    Size
    1,216 SF
    Contact us
    Unit Suite 108

    $19 /Mo

    Size
    1,401 SF
    Contact us
    Unit Suite 214

    $19 /Mo

    Size
    1,366 SF
    Contact us
    Unit Suite 210

    $19 /Mo

    Size
    643 SF
    Contact us
    Unit Suite 204

    $19 /Mo

    Size
    1,216 SF
    Contact us
    Unit Suite 106

    $19 /Mo

    Size
    1,201 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Cameron Casey
    Cameron Casey

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Next Step Counseling Counselor Sunrise Family Medicine ... Alternative Medicine Practice ERISA Benefits Law, ... Law Firm The Pelican Company Property Management Company Sunset Falls Healthcare ... Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.9377576
    Latitude
    32.2356621

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    FAQs

    What type of property is this?
    Medical office - Tucson Medical & Office Suites Available
    Where is this medical office located?
    The property is located at 2302 Speedway Blvd Tucson, AZ.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    Request Owner's contact information
    2302 Speedway Blvd Tucson, AZ 85719
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    Tucson, AZ 85719
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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
    2302 Speedway Blvd Tucson, AZ 85719
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    We can help!
    Listing Contact
    Cameron Casey
    Cameron Casey
    Real Estate License ID: SA665927000
    Learn more
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