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

    1415 Miracle Mile Tucson, AZ 85705-9321

    • Warehouses
    • 2,976 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $310,000
    Show details
    Cap Rate Potential
    7.9%
    Warehouses
    Location Intelligence
    Property ID
    US07-1325169
    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

    • El Charly tacos y carnitas / Mexican Restaurant / Restaurant
    • Express Tire Service / Car Repair And Maintenance Service

    Property Details for 1415 Miracle Mile

    Year built
    1955
    Construction
    FRAME
    Lot size
    0.53 lot acres
    Property size
    2,976 SF
    Property type
    Warehouses
    APN
    107-01-0310
    APU
    107010310

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $385,000
      6.5%
      $355,000
      7%
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $295,000
      Market price range: $193k - $423k
      AI Estimate
      $187,000
      Market price range: $92.3k - $287k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $285,000
      Current use
      RETAIL STORES
      $370,000
      Change: +30% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.996
    Latitude
    32.2608
    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
    $4,965
    $24,431
    $13,548
    $37,979
    -
    $162,876
    $90,322
    $253,198

    Comparable in this City

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      0.17 Acres

      4691 Vly Park Ave

      WAREHOUSE, STORAGE • 0.17 Acres
      4691 Vly Park Ave, Tucson, AZ 85705
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    • Value Estimation
      $635,000
      25,513 SF

      1635 Oracle Rd

      WAREHOUSE, STORAGE • 25,513 SF
      1635 Oracle Rd, Tucson, AZ 85705-6440
      View Details
    • Value Estimation
      $535,000
      21,478 SF

      33 University Blvd

      WAREHOUSE, STORAGE • 21,478 SF
      33 University Blvd, Tucson, AZ 85705-7749
      View Details
    • Value Estimation
      $255,000
      2,072 SF

      4347 Sullinger Ave

      WAREHOUSE, STORAGE • 2,072 SF
      4347 Sullinger Ave, Tucson, AZ 85705-2013
      View Details
    • Value Estimation by Request
      2,366 SF

      5602 Camino De La Tierra

      STORAGE YARD (JUNK, SALVAGE) • 2,366 SF
      5602 Camino De La Tierra, Tucson, AZ 85705-1011
      View Details
    • Value Estimation
      $520,000
      19,533 SF

      3985 Benan Venture Dr

      WAREHOUSE, STORAGE • 19,533 SF
      3985 Benan Venture Dr, Tucson, AZ 85705-6919
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.56 Acres

      Downtown Tucson Industrial Redevelopment

      Prime location, high redevelopment potential.
      730 7Th Ave, Tucson, AZ 85705
      View Details
    • $1,700,000
      11,230 SF

      Miracle Mile Auto Shop/Warehouse

      Tucson Industrial Property - $1.7M
      1225 Miracle Mile, Tucson, AZ 85705
      View Details
    • $1,200,000
      3,690 SF

      Tucson Warehouse and Office Space

      Versatile commercial property with warehouse and office space on large lot.
      2200 W La Osa St, Tucson, AZ 85705
      View Details
    • $1,700,000
      10,750 SF

      Tucson Warehouse with Fenced Yard

      Warehouse with fenced yard, roll-up doors, and I-10 access.
      1225 W Miracle Mile, Tucson, AZ 85705
      View Details
    • New
      $1,499,000
      6,702 SF

      Versatile Retail/Industrial Property in Tucson

      Retail/industrial property with flexible spaces and warehouse, near amenities.
      261 W Fort Lowell Rd, Tucson, AZ 85705
      View Details
    • $355,000
      2,027 SF

      Office/Flex Space with Unique Finishes

      Office/flex space featuring unique finishes and ample parking.
      1448 N Stone Ave, Tucson, AZ 85705
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      98,345 SF

      Industrial Warehouse Space Available

      Industrial warehouse space for rent near Interstate 10.
      2020 W Prince Rd, Tucson, AZ 85705
      View Details
    • $1.20 SF/Yr
      4,800 SF

      Northwest Tucson Flex Space Available

      Modern Flex Space, I-10 Access
      3839 Oracle Rd, Tucson, AZ 85705
      View Details
    • $7,500 /Mo
      3,690 SF

      Adaptable Warehouse and Office Space

      Versatile commercial property with warehouse and office space for lease.
      2200 W La Osa St, Tucson, AZ 85705
      View Details
    • $390,000
      1,640 SF

      Industrial Property with Fenced Yard

      Industrial property featuring a fenced yard and proximity to I-10.
      4164 N Flowing Wells Rd, Tucson, AZ 85705
      View Details
    • Contact for pricing
      20,613 SF

      Tucson Industrial Distribution Space

      Flexible Warehouse Space, Tucson, AZ
      601 Flores St, Tucson, AZ 85705
      View Details
    • $9 SF/Yr
      94,188 SF

      Oracle & Ft Lowell Center: Prime Tucson Space

      Tucson Office/Flex Space: 21,539 - 94,188 SF Available
      3202 Oracle Rd, Tucson, AZ 85705
      View Details
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    1415 Miracle Mile
    Tucson, AZ 85705-9321
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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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