Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1065 Miracle Mile Tucson, AZ 85705-3715

    • Retail space
    • 3,860 SF
    • 0.80 lot acres
    OFF-MARKET
    Last Sale
    Mar 07, 2025
    $650,000
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    5%
    Retail space
    Location Intelligence
    Property ID
    US07-0967460
    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

    • Tucson Awning & Screen a RYR,LLC company / Contractor / Carport And Pergola Builder
    • Tucson Awning and Screen / Awning Supplier
    • Tucson Awning and Screen, RYR, LLC / Awning Supplier

    Property Details for 1065 Miracle Mile

    Year built
    1953
    Construction
    FRAME
    Lot size
    0.80 lot acres
    Property size
    3,860 SF
    Property type
    Retail space
    APN
    107-06-073B
    APU
    10706073B

    Description

    This freestanding retail storefront, located at 1065 W Miracle Mile in Tucson, Arizona (zip code 85705), presents a unique owner-user investment opportunity. The 3,860 square foot building sits on a substantial 35,288 square foot lot and boasts excellent visibility due to its Miracle Mile frontage and multiple access points. Built in 1953 and extensively renovated in 2024, the property includes a 7.5' x 6' roll-up door, perfect for loading and unloading. Interior features include two offices, a reception area, and a restroom. Recent improvements include a resealed roof (April 2024), new epoxy flooring, and the installation of two mini-split HVAC systems (approximately two years ago). The property benefits from its convenient location near Interstate 10, providing easy access for customers and employees. A large, gated, and fenced backyard offers ample space for storage or expansion. The permitted zoning is C-2 (86%) and MH-2 (14%) in Tucson. The asking price is $725,000. The property's APN is 107-06-073B. This well-maintained building offers a blend of classic charm and modern updates, making it an ideal location for a variety of retail businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $765,000
      ML approach
      $655,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $630,000
      6.5%
      $580,000
      7%
      $540,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $419,000
      Market price range: $282k - $680k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $480,000
      Current use
      COMMERCIAL (GENERAL)
      $945,000
      Change: +96% Conversion: Easy
      MEDICAL BUILDING
      $860,000
      Change: +79% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $745,000
      Change: +54% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $710,000
      Change: +47% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.988
    Latitude
    32.2605
    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
    $5,741
    $25,064
    $30,520
    $55,584
    -
    $139,244
    $169,556
    $308,800

    Comparable in this City

    • Value Estimation by Request
      0.14 Acres

      Tucson, AZ 85705

      RETAIL STORES (PERSONAL SERVICES) • 0.14 Acres
      Tucson, AZ 85705
      View Details
    • Value Estimation by Request
      0.47 Acres

      937 Grant Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.47 Acres
      937 Grant Rd, Tucson, AZ 85705
      View Details
    • Value Estimation by Request
      360 SF

      150 Grant Rd

      RETAIL STORES (PERSONAL SERVICES) • 360 SF
      150 Grant Rd, Tucson, AZ 85705-5625
      View Details
    • Value Estimation by Request
      876 SF

      1 Laguna St

      RETAIL STORES (PERSONAL SERVICES) • 876 SF
      1 Laguna St, Tucson, AZ 85705
      View Details
    • Value Estimation by Request
      2,300 SF

      1110 Prince Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,300 SF
      1110 Prince Rd, Tucson, AZ 85705-3111
      View Details
    • Value Estimation by Request
      1,112 SF

      1200 2nd Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,112 SF
      1200 2nd Ave, Tucson, AZ 85705
      View Details

    Similar Nearby for Sale

    • $1,300,000
      12,076 SF

      Historic Building Near University

      Adaptable historic building with strong traffic and high accessibility.
      9 E University Blvd, Tucson, AZ 85705
      View Details
    • $450,000
      2,508 SF

      Tucson Commercial Retail Opportunity

      Retail property in Tucson, suitable for multiple businesses.
      2822 N Stone Ave, Tucson, AZ 85705
      View Details
    • Contact for pricing
      44,289 SF

      Prime Retail Location Near Tucson Mall

      High-traffic retail property near major retailers and Tucson Mall.
      4525 N Oracle Rd, Tucson, AZ 85705
      View Details
    • $675,000
      3,194 SF

      Mixed-Use Property in Tucson, AZ

      Versatile mixed-use property with three units and recent updates.
      202 W Fort Lowell Rd, Tucson, AZ 85705
      View Details
    • $800,000
      3,000 SF

      Grant Road Commercial Property

      Tucson Mixed-Use Investment Opportunity
      329 Grant Rd, Tucson, AZ 85705
      View Details
    • Contact for pricing
      14,490 SF

      Former Walgreens Flagship Building

      Retail, medical, or service-oriented reuse opportunity on 1.67 acres.
      1351 W Prince Rd, Tucson, AZ 85705
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,460 SF

      Retail Space on Oracle Road

      Retail space with high visibility and abundant parking.
      3802-3810 N Oracle Rd, Tucson, AZ 85705
      View Details
    • $30 SF/Yr
      2,715 SF

      Retail Space Near Tucson Mall

      Retail space for lease near Tucson Mall on Oracle Road.
      4020-4022 N Oracle Rd, Tucson, AZ 85705
      View Details
    • $12 SF/Yr
      1,572 SF

      Retail Space with Ample Parking

      Retail space featuring high visibility, traffic, and parking.
      3700 N Oracle Rd, Tucson, AZ 85705
      View Details
    • Contact for pricing
      3,175 SF

      Retail Space on Oracle Road

      Retail space available in high-traffic Tucson location.
      N Oracle Rd, Tucson, AZ 85705
      View Details
    • $12 SF/Yr
      1,800 SF

      Retail Space on Grant Road

      Centrally located retail space with high visibility and access.
      2901-2957 E Grant Rd, Tucson, AZ 85705
      View Details
    • $4,400 /Mo
      3,326 SF

      Historic 4th Avenue Retail Space

      Open retail/office space near streetcar, new housing, and iconic businesses.
      419 N 4Th Ave, Tucson, AZ 85705
      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.
    1065 Miracle Mile
    Tucson, AZ 85705-3715
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.