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

    403 Cool Dr Tucson, AZ 85704-6550

    • Office Properties & Spaces
    • 1,360 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    Apr 17, 2024
    $605,000
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    2.8%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US07-0155997
    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. Jeff Barone / General Practitioner / Chiropractor
    • Jill Caffrey / Psychologist / Neurophysiologist
    • Daniel Chatel / Neurophysiologist / Psychologist
    • Michael Brower / Psychologist / Practitioner Service Location
    • Sara Frye / Psychologist / Practitioner Service Location

    Property Details for 403 Cool Dr

    Year built
    2002
    Construction
    FRAME
    Lot size
    0.03 lot acres
    Property size
    1,360 SF
    Property type
    Office Properties & Spaces
    APN
    225-14-3630
    APU
    225143630

    Description

    This exceptional 1,360-square-foot medical office suite, located at 403 W. Cool Drive, Suite 103, Oro Valley, AZ 85704, presents a fantastic investment opportunity. Priced at $399,000, the property boasts a prime location just off Oracle Road and North Magee Road, providing easy access to Northwest Oro Valley and the Foothills. Its convenient proximity to numerous shopping centers, restaurants, and other office and medical facilities along Oracle Road ensures high visibility and accessibility for patients and staff. The single-story building features high-quality masonry construction and includes four covered parking spaces for added convenience. Previously used as a medical office, the space is already equipped with high-end finishes and multiple exam rooms/offices, minimizing the need for extensive renovations. This turnkey solution is ideal for established medical practices seeking a move or expansion, or for new ventures looking for a well-appointed space in a thriving area. The property's excellent condition and desirable location make it a truly exceptional offering in the competitive Oro Valley market. This is a rare opportunity to acquire a move-in ready medical office suite in a highly sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $605,000
      ML approach
      $605,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $751,000
      Market price range: $315k - $1.19M
      AI Estimate
      $475,000
      Market price range: $230k - $650k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $685,000
      Current use
      MEDICAL BUILDING
      $875,000
      Change: +28% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.976
    Latitude
    32.3531
    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
    $5,180
    $7,344
    $34,375
    $41,719
    -
    $40,800
    $190,971
    $231,771

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      7493 Oracle Rd

      CONDOMINIUM OFFICES • 0.10 Acres
      7493 Oracle Rd, Tucson, AZ 85704-6343
      View Details
    • Value Estimation by Request
      0.00 Acres

      Tucson, AZ 85704

      CONDOMINIUM OFFICES • 0.00 Acres
      Tucson, AZ 85704
      View Details
    • Value Estimation by Request
      0.00 Acres

      Tucson, AZ 85704

      CONDOMINIUM OFFICES • 0.00 Acres
      Tucson, AZ 85704
      View Details
    • Value Estimation by Request
      0.00 Acres

      Tucson, AZ 85704

      CONDOMINIUM OFFICES • 0.00 Acres
      Tucson, AZ 85704
      View Details
    • Value Estimation by Request
      0.00 Acres

      Tucson, AZ 85704

      CONDOMINIUM OFFICES • 0.00 Acres
      Tucson, AZ 85704
      View Details
    • Value Estimation by Request
      0.00 Acres

      Tucson, AZ 85704

      CONDOMINIUM OFFICES • 0.00 Acres
      Tucson, AZ 85704
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Oro Valley Commercial Land for Sale

      Prime Oro Valley location, build-to-suit options.
      0 Oracle & Hardy Rds, Oro Valley, AZ 85704
      View Details
    • $1,075,000
      1.26 Acres

      Oracle Vista Centre: Medical Office

      1.26-acre medical office development site
      0 Nwc Oracle Rd & Linda Vis Blvd, Oro Valley, AZ 85704
      View Details
    • $6,195,533
      21,190 SF

      Tucson Executive Office Plaza

      Prime Tucson Office Building, 21,190 SF
      10195 Oracle Rd, Tucson, AZ 85704
      View Details
    • $256,000
      1,280 SF

      Tucson Medical Condo for Sale

      Class A Medical Office, Vacant, High NOI
      1980 Hospital Dr, Tucson, AZ 85704
      View Details
    • Contact for pricing
      12,060 SF

      Oracle-Ina Medical Office Plaza

      Tucson Medical Office Space: 12,060 SF
      7510 Oracle Rd, Tucson, AZ 85704
      View Details
    • $775,000
      3,106 SF

      Retail/Medical Space on Oracle Road

      Retail or medical space with frontage on Oracle Road.
      6615 N Oracle Rd, Tucson, AZ 85704
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      10,127 SF

      Tucson Office Space for Lease

      10,000+ SF Office, Flexible Suites
      7070 Oracle Rd, Tucson, AZ 85704
      View Details
    • $17 SF/Yr
      52,000 SF

      Oro Valley Retail Center Investment

      Prime Oro Valley retail space available.
      8500 Oracle Rd, Oro Valley, AZ 85704
      View Details
    • $20 SF/Yr
      29,306 SF

      Oracle Office Plaza: Tucson Office Space

      Prime Tucson Office, 29,306 sq ft, A-Class
      7493 Oracle Rd, Tucson, AZ 85704
      View Details
    • $16 SF/Yr
      20,724 SF

      Tucson Executive Office Suite

      Prime Tucson office space available.
      5931 Oracle Rd, Tucson, AZ 85704
      View Details
    • $27 SF/Yr
      93,600 SF

      Tucson Medical Office Plaza

      Prime Tucson medical space available.
      7510 Oracle Rd, Tucson, AZ 85704
      View Details
    • $17 SF/Yr
      53,838 SF

      Oro Valley Office Space Available

      Office spaces for lease in Oro Valley, Tucson.
      11100 N Oracle Rd, Tucson, AZ 85704
      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.
    403 Cool Dr
    Tucson, AZ 85704-6550
    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.