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Property profile & analytics
FOR LEASE
Office Spaces
3535 East Valencia Road, Tucson, AZ 85706
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0905652
For Lease
1 / 8
$19 SF/Yr
3535 East Valencia Road, Tucson, AZ 85706
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2001
Construction
FRAME
Total area
48,815 SF
Lot
6.59 ac (287,207 SF)
APN
140-29-2130
UPID
US07-0905652
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.61M
CAP Approach
CAP
$8.11M
Comparable Approach
Comparable
$15.07M
Blend (final)
Blend
$12.36M
Owner & transaction history
Galaxy Properties I LP · 3 yrs held
Galaxy Properties I LP
since 2022
Last sale
$11.4M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$18.6M
+12.3%
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
$16,475,000
ML approach
$11,605,000
CAP Approach
CAP Return
Estimation
6%
$8,785,000
6.5%
$8,110,000
7%
$7,530,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$16,580,000
Current use
INDUSTRIAL (GENERAL)
$18,625,000
Change: +12% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$14,125,000
Change: -15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$13,285,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$12.36M
Range $11.12M – $13.60M · ±10% · vs last sale $11.45M (Sep 1 2022)
Last sale anchor
$11.45M
Sep 1 2022
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
$253 / 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
$216,347
Tax year 2023
Assessed value
$2,083,151
Assessed 2024
Previous assessed
$2,460,276
-15.3% YoY
Effective rate
10.39%
On assessed value
Assessed land
$207,306
Assessed improvement
$1,875,845
Land market value
$1,151,700
Improvement market value
$10,421,360
Total market value
$11,573,060
Applied tax rate
1,250.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2001
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Total area
48,815 SF
Lot
6.59 ac (287,207 SF)
APN
140-29-2130
UPID
US07-0905652
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
COMMERCIAL (GENERAL) Current
Est. value
$16.6M
INDUSTRIAL (GENERAL)
Est. value
$18.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.1M
AUTO REPAIR, GARAGE
Est. value
$13.3M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
2001
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Lot
6.59 ac
Current owner
From public records · entity-resolved
Galaxy Properties I LP
Entity
Mailing address
777 W YAMATO RD STE #105, BOCA RATON, FL 33431-4406
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2022
$11,449,000
Galaxy Properties I LP
Griffin Tucson Essential Asset Reit
Special Warranty Deed
$736,000,000 · Jpmorgan Chase Bank NA
Jul 29, 2015
$21,564,689
Griffin Tucson Essential As
First Health Group Corp
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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