Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    487 Meyer Ave Tucson, AZ 85701

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    487 Meyer Ave Tucson, AZ 85701

    View on Map
    • Retail properties & Spaces
    • 2,314 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 487 Meyer Ave

    Year built
    1900
    Property size
    2,314 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 2,314 square foot retail property, built in 1900, is located in Tucson, Arizona's coveted Barrio Viejo neighborhood at 487 S Meyer Ave, 85701. The single-story building offers two available spaces ranging from 259 to 370 square feet each. Features include concrete floors, abundant natural light, a shared common area with two restrooms, and a spacious courtyard. Leased "as is," with no tenant improvements provided by the lessor. The property boasts high visibility and foot traffic due to its ideal location just south of Downtown Tucson, near Congress Street and I-10. This prime location ensures easy accessibility and a steady stream of potential customers. Surrounded by a vibrant commercial hub, it's perfect for various businesses, including cafes, boutiques, and upscale retail establishments. Its proximity to attractions like Mercado San Agustin, the Linda Ronstadt Music Hall, and the Tucson Convention Center further enhances its appeal. This unique opportunity blends a picturesque setting with the energy of downtown Tucson, offering unmatched potential for growth and customer engagement. Parking is not available on-site.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.973
    Latitude
    32.2149

    Comparable in this City

    • Value Estimation by Request
      0.29 Acres

      Tucson, AZ 85701

      NURSERY, GREENHOUSE, FLORIST • 0.29 Acres
      Tucson, AZ 85701
      View Details
    • Value Estimation by Request
      0.35 Acres

      Tucson, AZ 85701

      NURSERY, GREENHOUSE, FLORIST • 0.35 Acres
      Tucson, AZ 85701
      View Details
    • Value Estimation by Request
      0.07 Acres

      414 Arizona Ave

      NURSERY, GREENHOUSE, FLORIST • 0.07 Acres
      414 Arizona Ave, Tucson, AZ 85701
      View Details
    • Value Estimation by Request
      1,736 SF

      901 6th Ave

      NURSERY, GREENHOUSE, FLORIST • 1,736 SF
      901 6th Ave, Tucson, AZ 85701-3070
      View Details
    • Value Estimation
      $1,185,000
      5,760 SF

      435 6th Ave

      NURSERY, GREENHOUSE, FLORIST • 5,760 SF
      435 6th Ave, Tucson, AZ 85701-2311
      View Details
    • Value Estimation
      $10,205,000
      55,687 SF

      192 Stone Ave

      NURSERY, GREENHOUSE, FLORIST • 55,687 SF
      192 Stone Ave, Tucson, AZ 85701-1913
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      35,178 SF

      Downtown Tucson Office Building

      Two-story office building with parking in downtown Tucson.
      120 N Stone Ave, Tucson, AZ 85701
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      15442 W Ajo Way, Tucson, AZ 85701
      View Details
    • $1,749,000
      5,039 SF

      Historic Tucson Live/Work Opportunity

      Prime downtown Tucson real estate with live/work functionality.
      443 S Stone Ave, Tucson, AZ 85701
      View Details
    • $549,900
      1,246 SF

      Historic Armory Park Live-Work Duplex

      Charming 1928 duplex in historic Armory Park District.
      287 S Scott Ave, Tucson, AZ 85701
      View Details
    • $674,700
      3,125 SF

      Historic Tucson Triplex with Income

      Rare triplex with income potential, C3 zoning, historic details.
      Tucson, AZ 85701
      View Details
    • Contact for pricing
      42,483 SF

      Tucson Flex Space Opportunity

      Self-storage and commercial flex space in Tucson, Arizona.
      657 West Saint Marys Rd, Tucson, AZ 85701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,120 SF

      Downtown Tucson Restaurant/Retail Space

      Restaurant/retail space in the heart of Downtown Tucson.
      29 W Congress St, Tucson, AZ 85701
      View Details
    • Contact for pricing
      3,191 SF

      Turnkey Restaurant and Bar Space

      Restaurant and bar space in a well-known, convenient location.
      220 N 4Th Ave, Tucson, AZ 85701
      View Details
    • Contact for pricing
      2,237 SF

      Downtown Tucson Retail Space

      Retail space available in downtown Tucson's Rio Nuevo district.
      35 N 6Th Ave, Tucson, AZ 85701
      View Details
    • Contact for pricing
      1,055 SF

      Downtown Tucson Retail Space

      Retail space in Downtown Tucson with high visibility.
      345 E Congress St, Tucson, AZ 85701
      View Details
    • Contact for pricing
      1,363 SF

      Downtown Retail Space Available

      Mixed-use property with built-in customers in downtown Tucson.
      245 East Congress St, Tucson, AZ 85701
      View Details
    • Contact for pricing

      Retail/Office Space For Lease

      Retail and office spaces available for lease.
      212 E Broadway Blvd, Tucson, AZ 85701
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    487 Meyer Ave
    Tucson, AZ 85701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!