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

    2840 Skyline Dr Tucson, AZ 85718

    • Strip malls
    • 31,777 SF
    • 7.16 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    $930,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0225646
    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

    • Dr. Amy Clark / Family Practice Physician / Medical Clinic
    • Sunstreet Mortgage, LLC - Plaza Colonial / Mortgage Lender
    • Myron Rottenstein, CFP, CIMA - UBS Financial Services Inc. / Financial Planner / Financial Consultant
    • Gerard Freeh - UBS Financial Services Inc. / Financial Planner / Financial Consultant
    • Machelle Strand / Family Practice Physician

    Property Details for 2840 Skyline Dr

    Year built
    2005
    Construction
    FRAME
    Lot size
    7.16 lot acres
    Property size
    31,777 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    108-11-054C
    APU
    10811054C

    Description

    Plaza Colonial, a Class A retail center (83,737 total square feet), presents an exceptional investment opportunity in Tucson's desirable Catalina Foothills. Built in 2005, this stunning Spanish Colonial-style property boasts a prime location at the southwest corner of Campbell Avenue and Skyline Drive, directly across from La Encantada, Southern Arizona's premier luxury shopping mall. The center comprises four buildings arranged around a charming central courtyard, creating a vibrant and inviting atmosphere for both shoppers and diners. Currently, two retail spaces are available, ranging from 3,046 to 3,460 square feet. The property's diverse tenant mix includes a blend of professional office spaces (occupied by reputable firms such as UBS Financial Services, US Bank, Sunstreet Mortgage, and Coldwell Banker), upscale dining establishments (Tavolino Italian Restaurant and Shlomo & Vito's New York Delicatessen), and specialty boutiques and salons. The property is zoned CB-1 and situated in Pima County. With only 1,340 square feet currently vacant, this is a rare opportunity to secure space in a thriving, well-established retail center. The architectural design, high-quality tenants, and exceptional location make Plaza Colonial an attractive proposition for discerning businesses seeking a prestigious address in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $930,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.931
    Latitude
    32.3217
    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
    $287,935
    $505,489
    $3,581,654
    $4,087,143
    -
    $2,808,270
    $19,898,079
    $22,706,349

    Comparable in this City

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      SHOPPING CENTER, STRIP CENTER • 0.35 Acres
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    • Value Estimation
      $225,000
      0.12 Acres

      Tucson, AZ 85718

      SHOPPING CENTER, STRIP CENTER • 0.12 Acres
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    • Value Estimation by Request
      37,900 SF

      6330 Campbell Ave

      SHOPPING CENTER, STRIP CENTER • 37,900 SF
      6330 Campbell Ave, Tucson, AZ 85718-3177
      View Details
    • Value Estimation
      $745,000
      27,147 SF

      4717 Sunrise Dr

      SHOPPING CENTER, STRIP CENTER • 27,147 SF
      4717 Sunrise Dr, Tucson, AZ 85718-4534
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    • Value Estimation
      $205,000
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      Tucson, AZ 85718

      SHOPPING CENTER, STRIP CENTER • 0.06 Acres
      Tucson, AZ 85718
      View Details
    • Value Estimation
      $470,000
      33,506 SF

      Tucson, AZ 85718

      SHOPPING CENTER, STRIP CENTER • 33,506 SF
      Tucson, AZ 85718
      View Details

    Similar Nearby for Sale

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    • $3,703,700
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      Skyline Esplanade Medical/Professional Office

      High-end medical/professional office in prestigious Foothills location.
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    Similar Nearby for Lease

    • Contact for pricing
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      Tucson Retail Space For Lease

      Retail space in affluent Tucson area, anchored by high-volume Safeway.
      4700-4784 E Sunrise Dr, Tucson, AZ 85718
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    • $22 SF/Yr
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      Plaza Colonial: Prime Retail Space

      Tucson Retail Center: Two Suites Available
      2840 Skyline Dr, Tucson, AZ 85718
      View Details
    • $18 SF/Yr
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      Marana Marketplace Retail Center

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    • Contact for pricing
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      Retail Space in La Encantada

      Retail space available in the La Encantada shopping center.
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    • $30 SF/Yr
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      Joesler Village: Office Suites Available

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    • Contact for pricing
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      River Center Retail Space Available

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      Tucson Nec Riv Rd & Craycroft Rd, Tucson, AZ 85718
      View Details
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    Tucson, AZ 85718
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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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