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    610 Park Ave Tucson, AZ 85719-6735

    For Sale
    $3,400,000

    Unique Mixed-Use Investment Opportunity

    Property size:
    21,094 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 21,094-square-foot mixed-use property, located at 610 S Park Ave, Tucson, AZ 85719, presents a compelling investment opportunity. Originally constructed in 1954 and undergoing ongoing renovations, this repurposed warehouse boasts a unique blend of creative office spaces, manufacturing facilities, and an event center. Currently housing 22 tenants with 100% occupancy, the property generates a substantial income stream. The building features 30-foot ceilings, two dock-high doors, and 14 parking spaces. Situated on a 29,717-square-foot lot, it is zoned I-1 by the City of Tucson. The asking price is $3,400,000, with a pro-forma cap rate of 6.73% and a pro-forma NOI of $228,798. All furniture, fixtures, and equipment are included in the sale. The property benefits from its location in Tucson's thriving downtown arts district, close to restaurants, offices, and hotels. Rent bumps are in place, offering potential for future income growth. This one-of-a-kind property offers a diverse income stream, a proven track record, and significant upside potential. The current configuration includes a high-end furniture manufacturing operation, co-working executive office suites, and a versatile event center. Seller financing and potential 1031 exchanges may be considered. This is a rare opportunity to acquire a fully operational, income-producing property with significant long-term growth potential.

    Property Features for 610 Park Ave

    General Information

    Property type
    Office space
    Square Feet
    21,094 SF

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    1

    HighLights

    • 21,094 SF mixed‑use property with diverse income streams, currently 100% occupied by 22 tenants.
    • Proven track record with strong financials (available with NDA).
    • $3,400,000 asking price, 6.73% pro‑forma cap rate, $228,798 pro‑forma NOI.
    • All furniture, fixtures, and equipment included.
    • Seller financing and 1031 exchange possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dog Days Tucson ... Video Production Service Gold Financial Services ... Mortgage Lender Sonder Agency Website Designer Tyler Reinforcing LLC ... Construction Company Rail Yard Executive Suite Rental Agency

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.9569039
    Latitude
    32.2143544

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    FAQs

    What type of property is this?
    Office space - Unique Mixed-Use Investment Opportunity
    Where is this office space located?
    The property is located at 610 Park Ave Tucson, AZ.
    What is the asking price?
    The asking price for this property is $3,400,000.
    What are key features of this property?
    This property features: 21,094 SF mixed-use property with diverse income streams, currently 100% occupied by 22 tenants.; Proven track record with strong financials (available with NDA).; $3,400,000 asking price, 6.73% pro-forma cap rate, $228,798 pro-forma NOI.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    610 Park Ave Tucson, AZ 85719-6735
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