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Property profile & analytics
FOR LEASE
Strip malls
1801 N Alvernon Way, Tucson, AZ 85711
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US07-1331132
For Lease
1 / 2
$1.23 SF/Yr
1801 N Alvernon Way, Tucson, AZ 85711
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
FRAME
Total area
17,700 SF
Lot
3.79 ac (165,183 SF)
APN
130-17-149A
UPID
US07-1331132
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Praise Chapel Tucson Church
-
Diaz Fit Personal Training Gym & Fitness Center
-
Maintenance Mart Big Box & Wholesale Store Building Supply
-
First Chiropractic Alternative Medicine Practice
-
A-Z Muscle Mechanics LLC, Tucson's Recovery Focused Therapeutic Massage Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.42M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.19M
Owner & transaction history
Pegasus Tucson Owner LLC · 4 yrs held
Pegasus Tucson Owner LLC
since 2021
Last sale
$7.9M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.2M
+32.2%
Commercial (general)
$6.3M
+0.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tucson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tucson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$8,445,000
ML approach
$8,415,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,235,000
Current use
RESTAURANT
$8,245,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,275,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$8.19M
Range $7.37M – $9.00M · ±10% · vs last sale $7.94M (Oct 15 2021)
Last sale anchor
$7.94M
Oct 15 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$462 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$74,784
Tax year 2023
Assessed value
$752,124
Assessed 2024
Previous assessed
$752,124
+0.0% YoY
Effective rate
9.94%
On assessed value
Assessed land
$119,229
Assessed improvement
$632,895
Land market value
$662,384
Improvement market value
$3,516,083
Total market value
$4,178,467
Applied tax rate
150.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1986
Construction
FRAME
Heating
YES
Cooling
EVAPORATIVE
Buildings
6
Stories
1
Total area
17,700 SF
Lot
3.79 ac (165,183 SF)
APN
130-17-149A
UPID
US07-1331132
Jurisdiction
PIMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.2M
RESTAURANT
Est. value
$8.2M
COMMERCIAL (GENERAL)
Est. value
$6.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
6
Lot
3.79 ac
Current owner
From public records · entity-resolved
Pegasus Tucson Owner LLC
Entity
Mailing address
8888 E RAINTREE DR STE #155, SCOTTSDALE, AZ 85260-3952
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2021
$7,942,000
Pegasus Tucson Owner LLC
Presson Midpoint LLC
Special Warranty Deed
—
Sep 1, 2010
—
Presson Midpoint LLC
—
Deed Of Trust
related
$3,360,000 · California Bank & Trust
Feb 13, 2008
$5,900,000
Presson Midpoint LLC
Mid-point-campos Trust LLC
Warranty Deed
—
Nov 1, 1996
$2,260,000
Point Business Plaza L P Mid
Parkway Center INC
Grant Deed
related
$1,810,000 · Berkshire Life Insurance Co
Dec 31, 1990
—
Dietmar Gann
Twenty Ninth & A
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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