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

    2802 Alvernon Way Tucson, AZ 85712-1500

    • Office Properties & Spaces
    • 6,000 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Aug 18, 2024
    $1,750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1168087
    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

    • William T. Beaver, PHD / Psychologist
    • Naturopathic Heart Institute / Naturopathic Practitioner / Health
    • Babymoon Inn of Tucson, LLC / Birth Center
    • El Sol Consulting-Psychotherapy / Family Counselor
    • Dianna C. Hine, LMFT / Counselor

    Property Details for 2802 Alvernon Way

    Year built
    1985
    Construction
    FRAME
    Lot size
    0.70 lot acres
    Property size
    6,000 SF
    Property type
    Office Properties & Spaces
    APN
    110-06-134E
    APU
    11006134E

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.909
    Latitude
    32.2582
    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
    $19,045
    $30,299
    $228,233
    $258,532
    -
    $168,330
    $1,267,962
    $1,436,292

    Comparable in this City

    • Value Estimation
      $295,000
      0.10 Acres

      4550 Cp Lowell Dr

      CONDOMINIUM OFFICES • 0.10 Acres
      4550 Cp Lowell Dr, Tucson, AZ 85712-1282
      View Details
    • Value Estimation
      $400,000
      6.91 Acres

      3301 De Los Rios Pso

      CONDOMINIUM OFFICES • 6.91 Acres
      3301 De Los Rios Pso, Tucson, AZ 85712
      View Details
    • Value Estimation
      $300,000
      0.00 Acres

      Tucson, AZ 85712

      CONDOMINIUM OFFICES • 0.00 Acres
      Tucson, AZ 85712
      View Details
    • Value Estimation
      $265,000
      0.05 Acres

      6015 Grant Rd

      CONDOMINIUM OFFICES • 0.05 Acres
      6015 Grant Rd, Tucson, AZ 85712-2316
      View Details
    • Value Estimation
      $430,000
      4,495 SF

      5215 Ft Lowell Rd

      OFFICE (GENERAL) • 4,495 SF
      5215 Ft Lowell Rd, Tucson, AZ 85712-1310
      View Details
    • Value Estimation
      $565,000
      2,829 SF

      6121 Grant Rd

      OFFICE (GENERAL) • 2,829 SF
      6121 Grant Rd, Tucson, AZ 85712-5829
      View Details

    Similar Nearby for Sale

    • $850,000
      3,561 SF

      Pima St Office: Tucson Investment

      Prime Tucson Office Space - Owner/User Opportunity
      6246 Pima St, Tucson, AZ 85712
      View Details
    • $614,640
      3,152 SF

      Tucson Executive Office Building

      Prime Tucson Office, 3152 SF, $614,640
      6115 Grant Rd, Tucson, AZ 85712
      View Details
    • $300,000
      1,253 SF

      Tucson Medical Office Building

      1,253 SF Medical Office for Sale
      6206 Pima St, Tucson, AZ 85712
      View Details
    • $625,000
      2,649 SF

      Tucson Office Duplex Investment

      Class A Office Suites, Prime Location
      4733 Camp Lowell Dr, Tucson, AZ 85712
      View Details
    • $100,000
      1,224 SF

      Furnished Medical Condo on Campus

      Furnished medical condo located on Tucson Medical Center campus.
      5240 E Knight Dr, Tucson, AZ 85712
      View Details
    • $729,000
      3,013 SF

      Move-in Ready Office Condo

      East end-cap office condo with abundant natural light.
      2810 N Swan Rd, Tucson, AZ 85712
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      4,177 SF

      Tucson Office Park - Grant Rd

      Single-story office, 4,177 sq ft.
      5997 Grant Rd, Tucson, AZ 85712
      View Details
    • $19 SF/Yr
      5,367 SF

      Tucson Office Space: Swan Road Gem

      Prime Tucson office suites, various sizes available.
      1636 Swan Rd, Tucson, AZ 85712
      View Details
    • $10 SF/Yr
      5,826 SF

      Grant Road Commercial Space

      Tucson Retail/Office Opportunity
      5541-5547 Grant Rd, Tucson, AZ 85712
      View Details
    • $12 SF/Yr
      1,567 SF

      Tucson Office Suite - Alvernon Way

      Move-in ready, 1567 sq ft office suite with mountain views.
      1643 Alvernon Way, Tucson, AZ 85712
      View Details
    • $10 SF/Yr
      18,000 SF

      Reddington Plaza: Tucson Office Space

      Prime Tucson Office Suites Available Now
      5801 Speedway Blvd, Tucson, AZ 85712
      View Details
    • $20 SF/Yr
      4,598 SF

      Medical Office Near TMC

      Medical office space with convenient access to TMC.
      2350 N Kibler Pl, Tucson, AZ 85712
      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.
    2802 Alvernon Way
    Tucson, AZ 85712-1500
    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.