Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2114 Alvernon Way Tucson, AZ 85711-6218
    Back to Search
    Property profile & analytics

    2114 Alvernon Way Tucson, AZ 85711-6218

    View on Map
    • Retail properties & Spaces
    • 5,973 SF
    • 0.38 lot acres
    Off-Market
    Last Sale Jan 8, 2021
    $1,125,000
    Property ID
    US07-1108883
    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
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tucson Golf Cars / Golf Cart Dealer

    Property Details for 2114 Alvernon Way

    Year built
    1962
    Construction
    FRAME
    Lot size
    0.38 lot acres
    Property size
    5,973 SF
    Property type
    Retail properties & Spaces
    APN
    130-12-013A
    APU
    13012013A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,195,000
      ML approach
      $1,190,000

    • Alternative Use

      Use
      Estimation
      FARM SUPPLY & EQUIPMENT (COMMERCIAL)
      $1,145,000
      Current use
      AUTO REPAIR, GARAGE
      $1,625,000
      Change: +42% Conversion: Difficult
      MEDICAL BUILDING
      $1,335,000
      Change: +16% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,230,000
      Change: +7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.91
    Latitude
    32.1972
    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
    $5,304
    $11,853
    $46,714
    $58,567
    -
    $65,852
    $259,522
    $325,374

    Comparable in this City

    • Value Estimation by Request
      30,118 SF

      5555 Broadway Blvd

      Individual retail properties • 30,118 SF
      5555 Broadway Blvd, Tucson, AZ 85711
      View Details
    • Value Estimation by Request
      0.05 Acres

      2011 Alvernon Way

      NURSERY, GREENHOUSE, FLORIST • 0.05 Acres
      2011 Alvernon Way, Tucson, AZ 85711-6215
      View Details
    • Value Estimation by Request

      4271 Burns St

      NURSERY, GREENHOUSE, FLORIST
      4271 Burns St, Tucson, AZ 85711-2810
      View Details
    • Value Estimation by Request
      0.13 Acres

      Tucson, AZ 85711

      NURSERY, GREENHOUSE, FLORIST • 0.13 Acres
      Tucson, AZ 85711
      View Details
    • Value Estimation by Request
      0.29 Acres

      Tucson, AZ 85711

      NURSERY, GREENHOUSE, FLORIST • 0.29 Acres
      Tucson, AZ 85711
      View Details
    • Value Estimation by Request
      0.10 Acres

      Tucson, AZ 85711

      NURSERY, GREENHOUSE, FLORIST • 0.10 Acres
      Tucson, AZ 85711
      View Details

    Similar Nearby for Sale

    • $3,200,000
      11,253 SF

      High-Visibility Retail Space For Sale

      Retail property with frontage on Broadway Boulevard near Park Place.
      5919 E Broadway Blvd, Tucson, AZ 85711
      View Details
    • Contact for pricing
      2,292 SF

      Restaurant Building on Heavily Trafficked Street

      Restaurant building with equipment on a heavily trafficked street.
      5810 E 22Nd St, Tucson, AZ 85711
      View Details
    • Contact for pricing
      4,252 SF

      McDonald's NNN Ground Lease Opportunity

      Corporate ground lease with a long-term tenant and prime location.
      6105 E Broadway Blvd, Tucson, AZ 85711
      View Details
    • Contact for pricing
      83,188 SF

      Mixed-Use Retail Property For Sale

      Mixed-use retail property available for sale.
      4741 E Broadway Blvd, Tucson, AZ 85711
      View Details
    • $2,689,000
      1,412 SF

      Retail Space with Rent Bumps

      Retail space featuring rent increases every five years.
      3955 E 22Nd St, Tucson, AZ 85711
      View Details
    • Contact for pricing
      1,572 SF

      Freestanding Building Near 22nd & Craycroft

      1,572 SF freestanding building on 7,200 SF lot.
      921 S Craycroft Rd, Tucson, AZ 85711
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Drive-Thru Pad for Rent

      Commercially zoned drive-thru pad in east Tucson trade area.
      1160 N Wilmot Rd, Tucson, AZ 85711
      View Details
    • Contact for pricing

      Retail Space in Tucson Center

      Prime retail spaces available at The Plaza at Williams Centre.
      5340-5480 E Broadway Blvd, Tucson, AZ 85711
      View Details
    • Contact for pricing

      Land for Lease in Tucson

      Commercial land available for lease at Broadway Blvd & Craycroft Rd.
      Wnwc Broadway Blvd & Craycroft Rd, Tucson, AZ 85711
      View Details
    • Contact for pricing
      3,200 SF

      Restaurant Space on Broadway Boulevard

      Turnkey restaurant opportunity in a high-traffic Tucson location.
      5721 E Broadway Blvd, Tucson, AZ 85711
      View Details
    • Contact for pricing

      Broadway Boulevard Retail Opportunity

      Retail and office suites available on Broadway Boulevard.
      6061 E Broadway Blvd, Tucson, AZ 85711
      View Details
    • Contact for pricing
      5,400 SF

      Retail Space Near Air Force Base

      Retail space with high visibility and traffic near DMAFB.
      2002-2026 S Craycroft Rd, Tucson, AZ 85711
      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.
    2114 Alvernon Way
    Tucson, AZ 85711-6218
    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
    2114 Alvernon Way, Tucson, AZ, 85711
    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!