Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1135 Miracle Mile Tucson, AZ 85705-3717
    Back to Search
    Property profile & analytics

    1135 Miracle Mile, Tucson, AZ 85705-3717

    View on Map
    • Hotels
    • 7,958 SF
    • 1.68 lot acres
    Off-Market
    Last Sale Apr 7, 2023
    Property ID
    US07-1364666
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Amazon Motel / Hotel & Motel

    Property Details for 1135 Miracle Mile

    Year built
    1971
    Construction
    FRAME
    Lot size
    1.68 lot acres
    Property type
    Hotels
    APN
    107-06-0670
    APU
    107060670

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 7, 2023 — City Of Tucson Harshad B Patel Warranty Deed $6.2M · State Of Arizona
    Jul 10, 2008 $461,458 Harshad B Patel Patel,hasmukh B & Lila H Grant Deed · related $350k · Babu R Bhalala
    Oct 23, 1998 — Hasmukh B Patel Rose Peterson Trustee Quit Claim Deed · related $200k · Individual

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.99
    Latitude
    32.2606
    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
    $7,293
    $52,762
    $43,912
    $96,674
    -
    $293,120
    $243,955
    $537,075

    Comparable in this City

    • Value Estimation by Request
      3,383 SF

      1650 Oracle Rd

      HOTEL
      1650 Oracle Rd, Tucson, AZ 85705-6441
      View Details
    • Value Estimation by Request
      1,326 SF

      1919 Oracle Rd

      HOTEL
      1919 Oracle Rd, Tucson, AZ 85705-5424
      View Details
    • Value Estimation
      $1,230,000
      8,624 SF

      515 Miracle Mile

      HOTEL
      515 Miracle Mile, Tucson, AZ 85705-3704
      View Details
    • Value Estimation
      $1,675,000
      4,427 SF

      1704 Oracle Rd

      HOTEL
      1704 Oracle Rd, Tucson, AZ 85705-6443
      View Details
    • Value Estimation by Request
      7,650 SF

      950 Stone Ave

      HOTEL
      950 Stone Ave, Tucson, AZ 85705-7747
      View Details
    • Value Estimation
      $2,650,000
      13,591 SF

      515 Auto Mall Dr

      HOTEL
      515 Auto Mall Dr, Tucson, AZ 85705-6008
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,890 SF

      25-Room Motel with Kitchenettes

      25-room motel with kitchenettes and conversion potential.
      1919 N Oracle Rd, Tucson, AZ 85705
      View Details
    • Contact for pricing
      3,383 SF

      Tucson Quail Inn For Sale

      Turnkey motel property in Tucson, Arizona, ideal for investors.
      1650 N Oracle Rd, Tucson, AZ 85705
      View Details
    • $549,000
      4,451 SF

      449 Fort Lowell Rd, Tucson, AZ 85705

      Retail properties & Spaces
      449 Fort Lowell Rd, Tucson, AZ 85705
      View Details
    • Contact for pricing
      91,706 SF

      Tucson Commercial Property For Sale

      91,706 SF commercial property available in Tucson, Arizona.
      3760 N Commerce Dr, Tucson, AZ 85705
      View Details
    • Contact for pricing
      2,448 SF

      Popeyes Restaurant on Stone Avenue

      Popeyes restaurant on a main thoroughfare in Tucson, Arizona.
      1110 N Stone Ave, Tucson, AZ 85705
      View Details
    • $995,000

      Downtown Tucson Warehouse with Redevelopment Potential

      Warehouse with redevelopment potential in a central Tucson location.
      530 North 7Th Ave, Tucson, AZ 85705
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Flexible Warehouse and Office Space

      Adaptable warehouse, office, parking, and event spaces with comprehensive amenities.
      601 W Flores St, Tucson, AZ 85705
      View Details
    • Contact for pricing

      Multi-Tenant Office Building For Rent

      Multi-tenant office building with elevator, parking, and convenient location.
      17 W Wetmore Rd, Tucson, AZ 85705
      View Details
    • $16 SF/Yr
      2,772 SF

      Office/Warehouse with Fenced Yard

      Office/warehouse space for lease with easy highway access.
      1743 West Prince Rd, Tucson, AZ 85705
      View Details
    • Contact for pricing

      Retail/Office Space Available For Rent

      Retail and office spaces available for lease.
      901 W Prince Rd, Tucson, AZ 85705
      View Details
    • Contact for pricing
      1,300 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

      Corner end-cap retail space available near Tucson Mall.
      4020 North Oracle Rd, 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.
    1135 Miracle Mile
    Tucson, AZ 85705-3717
    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

    Thank You for Inquiry
    1135 Miracle Mile, Tucson, AZ, 85705
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!