Repurposed Warehouse in Downtown
610 S Park Ave Tucson, AZ 85719
610 S Park Ave, Tucson, AZ, 85719
Contact for pricing
For Sale
Contact for pricing
Mixed-use property with multiple income streams in booming downtown.
Property Size21,094 SF
Price / SF$156.44
Days on Market1052
Property Features for 610 S Park Ave
General Information
- Standard status
- Active
- Size
- 21,094 SF
- Property subtype
- Industrial, Mixed Use, Office, Special Purpose
Listing agency
ArizonaFirst Properties
(520) 400-2732
Listed by
Tom DeSollar · License #LC560763000
Source
Crexi
Added: Sep 4, 2023 Updated: Jul 6 at 7:47AM Checked: Jul 19 at 9:00AM
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 ArizonaFirst Properties
Investment Insights
Based on property information with market context.
This mixed-use property features a repurposed 21,094 square foot warehouse originally built in the 1950s, situated in the thriving downtown area of Tucson, Arizona. The location is convenient to hotels, entertainment venues, and restaurants. The property is currently configured to generate income from multiple sources. One income stream comes from co-working offices and executive suites, which are tastefully decorated and furnished with a railroad theme. These spaces are equipped with fiber optic internet and secured access. Another income source is a long-term industrial manufacturing operation that produces custom furniture and window coverings. The third income stream is generated by a successful event center located in the center of the building, known as the Rail Yard. This center hosts weddings, class reunions, family events, business conferences, and training sessions. All furniture, fixtures, and equipment are included in the offering.
Key Highlights
- Three income streams: co‑working offices/executive suites, industrial manufacturing tenant, and event center.
- Prime downtown Tucson location near hotels, entertainment, and restaurants.
- Repurposed 21,094 SF warehouse with a unique, tastefully decorated interior.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $455.6k | $21.60 |
| − Vacancy | −$41.0k | −$1.94 |
| EGI | $414.6k | $19.66 |
| − OpEx | −$155.5k | −$7.37 |
| NOI | $259.1k | $12.29 |
21,094 SF · lease $21.60/SF/yr · vacancy 9.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$4.40M
$3.85M – $5.14M
NOI $308,234 @ 7.0% cap · market cap 9.34%
Second Best
Mixed Use
$3.70M
$3.24M – $4.32M
NOI $259,140 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$5.48M
$4.79M – $6.39M
NOI $383,580 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dog Days Tucson ...
Film Production
Gold Financial Services ...
Loan Service
Sonder Agency
Marketing & Advertising
Tyler Reinforcing LLC ...
Construction Company
Rail Yard
Real Estate Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with multiple income streams in booming downtown.
Where is this mixed-use property located?
The property is located at 610 S Park Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Three income streams: co‑working offices/executive suites, industrial manufacturing tenant, and event center.; Prime downtown Tucson location near hotels, entertainment, and restaurants.; Repurposed 21,094 SF warehouse with a unique, tastefully decorated interior.
