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    2940-3000 Valencia Rd Tucson, AZ 85746
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    2940-3000 Valencia Rd, Tucson, AZ 85746

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    • Lifestyle centers
    • 116,631 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2940-3000 Valencia Rd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Manzanita Plaza, located at 2940-3000 W. Valencia Road in Tucson, Arizona, presents a compelling opportunity for businesses seeking executive office space. This two-building complex, situated in the Southwest submarket of Pima County, offers a total of 116,631 square feet of retail and office space. The property features two suites currently available, with a minimum divisible space of 1,170 square feet and a maximum contiguous space of 3,100 square feet. A total of 4,270 square feet is currently vacant and ready for immediate occupancy. The property is zoned C-1, providing flexibility for various business types. Manzanita Plaza boasts convenient access via Valencia and Cardinal Cross Streets, and ample parking is provided at a ratio of 6 spaces per 1,000 square feet. The single-story buildings are easily accessible, eliminating the need for elevators. This is an exceptional opportunity to establish a presence in a thriving Tucson location. The property's location within the Southwest submarket cluster offers excellent visibility and accessibility. Contact us today to learn more about leasing options and explore the possibilities of making Manzanita Plaza your new business address. Zip code is 85746.

    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
    -111.03
    Latitude
    32.1351

    Comparable in this City

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      $9,160,000
      54,229 SF

      1656 Valencia Rd

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      $2,365,000
      13,110 SF

      1710 Valencia Rd

      MINI-MALL
      1710 Valencia Rd, Tucson, AZ 85746-6680
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    • Value Estimation by Request
      0.03 Acres

      1625 Valencia Rd, Unit 1645

      SHOPPING CENTER, STRIP CENTER
      1625 Valencia Rd, Tucson, AZ 85746-6022
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    • Value Estimation
      $1,200,000
      10,014 SF

      1350 Irvington Rd

      SHOPPING CENTER, STRIP CENTER
      1350 Irvington Rd, Tucson, AZ 85746-4106
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    • Value Estimation
      $2,005,000
      10,456 SF

      2985 Valencia Rd

      SHOPPING CENTER, STRIP CENTER
      2985 Valencia Rd, Tucson, AZ 85746-8036
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    Similar Nearby for Sale

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      75,359 SF

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      8,320 SF

      Family Dollar Investment Opportunity

      8,320 SqFt Family Dollar store with 7.39% CAP rate.
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      Shovel-Ready Pads Near National Retailers

      Fully improved commercial land near Valencia Road and national retailers.
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      129,642 SF

      Commercial Land on Valencia Road

      Prime commercial land with high traffic frontage on Valencia Road.
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      Land Available For Sale

      Land available for sale in Tucson, Arizona.
      3155 W Valencia Road, Tucson, AZ 85746
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    • $220,000
      4.98 Acres

      Tucson Land with Mountain Views

      4.98-acre residential lot with utilities and mountain views.
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    Similar Nearby for Lease

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      Valencia Road Commercial Space

      Commercial space available for lease on Valencia Road.
      2940-3000 W Valencia Road, Tucson, AZ 85746
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      3,300 SF

      Retail Space in High-Traffic Area

      Retail space in a shopping center anchored by Walmart.
      1686-1698 W Valencia Road, Tucson, AZ 85746
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      51,786 SF

      Industrial Property with Canopy and Offices

      51,786 SF industrial space on 7.8 acres for lease.
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      4,000 SF

      Retail Pad Site Available

      Build-to-suit retail pad site in high-traffic Tucson location.
      2955 W Valencia Road, Tucson, AZ 85746
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      Valencia Road Freestanding Pad

      Freestanding pad with high visibility on Valencia Road.
      1800 W Valencia Road, Tucson, AZ 85746
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      2,700 SF

      Freestanding Restaurant with Drive-Thru

      Second-generation restaurant space with drive-thru in a retail corridor.
      1600 W Valencia Road, Tucson, AZ 85746
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    Tucson, AZ 85746
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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.

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