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    Property profile & analytics

    100 Stone Ave Tucson, AZ 85701

    • Office Properties & Spaces
    • 137,945 SF
    • 0.46 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Last Sale
    May 31, 2024
    $3,792,500
    Value Estimations
    $3,795,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0062010
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Innovative System Design / Computer Consultant
    • Mark R Resnick Law Offices / Attorney
    • Michael Harwin / Attorney / Criminal Justice Attorney
    • Alec Hanus Law Offices / Criminal Justice Attorney / Attorney
    • Ikes Coffee and Tea / Restaurant / Cafe

    Property Details for 100 Stone Ave

    Year built
    1929
    Construction
    FRAME
    Lot size
    0.46 lot acres
    Property size
    137,945 SF
    Property type
    Office Properties & Spaces
    APN
    117-11-096D
    APU
    11711096D

    Description

    The Pioneer, located at 100 N Stone Ave in Tucson, Arizona, presents a unique opportunity to lease a substantial office space. This eleven-story, 100,771 square foot building offers a single-tenant occupancy option, ideal for a large corporation or organization seeking a prominent presence in the heart of the city. Built in 1929 and extensively renovated in 2015, the property boasts a blend of historical charm and modern amenities. The building's traditional office layout is complemented by executive office spaces, providing flexibility for various business needs. Situated on a 0.53-acre lot in the desirable 85701 zip code of Pima County, The Pioneer benefits from excellent visibility and accessibility. The entire building is currently vacant, providing a blank canvas for a tenant to customize the space to their exact specifications. This is a rare chance to secure a landmark property in a thriving urban environment. The property's size, location, and recent renovations make it an exceptional opportunity for a business seeking a prestigious and functional office space. The building's history and architectural details offer a unique character not found in modern constructions. This is a truly remarkable opportunity to establish a significant presence in Tucson's dynamic business district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,795,000
      ML approach
      $3,795,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.971
    Latitude
    32.2232
    CBSA code
    46060
    CBSA name
    TUCSON, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $116,232
    $89,658
    $2,791,130
    $2,880,788
    -
    $498,100
    $15,506,279
    $16,004,379

    Comparable in this City

    • Value Estimation by Request
      289,548 SF

      110 Congress St

      OFFICE (GENERAL) • 289,548 SF
      110 Congress St, Tucson, AZ 85701-1317
      View Details
    • Value Estimation by Request
      2,070 SF

      257 Stone Ave

      OFFICE (GENERAL) • 2,070 SF
      257 Stone Ave, Tucson, AZ 85701-1228
      View Details
    • Value Estimation by Request
      1,958 SF

      Tucson, AZ 85701

      OFFICE (GENERAL) • 1,958 SF
      Tucson, AZ 85701
      View Details
    • Value Estimation
      $965,000
      5,188 SF

      64 Broadway Blvd

      OFFICE (GENERAL) • 5,188 SF
      64 Broadway Blvd, Tucson, AZ 85701-1720
      View Details
    • Value Estimation
      $3,500,000
      8,875 SF

      302 Granada Ave

      OFFICE (GENERAL) • 8,875 SF
      302 Granada Ave, Tucson, AZ 85701
      View Details
    • Value Estimation
      $705,000
      3,781 SF

      281 Scott Ave

      OFFICE (GENERAL) • 3,781 SF
      281 Scott Ave, Tucson, AZ 85701-1920
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $27 SF/Yr
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      Downtown Tucson Executive Office Space

      Prestigious office suites, prime location.
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      Pioneer Tucson Office: Historic Charm

      Downtown Tucson Office Space: 32,510 SF Available
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      Tucson Office Space for Lease

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    • $52,800
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      Tucson Office Space For Rent

      Charming 1,558 SF office space in prime Tucson location.
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      Downtown Tucson Office Building

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      MacArthur Building: Downtown Office Space

      Historic Downtown Tucson Office Building; 24,260 SF Available
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      View Details
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    100 Stone Ave
    Tucson, AZ 85701
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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
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