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    Property profile & analytics

    4115 Illinois St Tucson, AZ 85714-2122

    • Office properties & Spaces
    • 23,816 SF
    • 11.16 lot acres
    OFF-MARKET
    Value Estimations
    $5,930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-1315001
    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

    • Granite Construction Co / Construction Company

    Property Details for 4115 Illinois St

    Year built
    2003
    Construction
    FRAME
    Lot size
    11.16 lot acres
    Property size
    23,816 SF
    Property type
    Office properties & Spaces
    APN
    132-25-006A
    APU
    13225006A

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,875,000
      6.5%
      $4,500,000
      7%
      $4,180,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,745,000
      Market price range: $1.44M - $6.43M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $8,090,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $6,890,000
      Change: -15% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,480,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.903
    Latitude
    32.1699
    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
    $64,538
    $175,032
    $517,941
    $692,973
    -
    $972,400
    $2,877,451
    $3,849,851

    Comparable in this City

    • Value Estimation by Request
      767 SF

      4107 12th Ave

      OFFICE (GENERAL) • 767 SF
      4107 12th Ave, Tucson, AZ 85714-1454
      View Details
    • Value Estimation by Request
      15,000 SF

      1212-1216 Pennsylvania St

      Distribution properties • 15,000 SF
      1212-1216 Pennsylvania St, Tucson, AZ 85714
      View Details
    • Value Estimation by Request
      1,838 SF

      4075 6th Ave

      OFFICE (GENERAL) • 1,838 SF
      4075 6th Ave, Tucson, AZ 85714-1513
      View Details
    • Value Estimation
      $1,335,000
      6,751 SF

      3949 Irvington Rd

      OFFICE (GENERAL) • 6,751 SF
      3949 Irvington Rd, Tucson, AZ 85714-2115
      View Details
    • Value Estimation
      $2,715,000
      9,368 SF

      101 Irvington Rd

      OFFICE (GENERAL) • 9,368 SF
      101 Irvington Rd, Tucson, AZ 85714-3050
      View Details
    • Value Estimation
      $4,570,000
      17,083 SF

      4475 Coach Dr

      OFFICE (GENERAL) • 17,083 SF
      4475 Coach Dr, Tucson, AZ 85714-3419
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,943 SF

      Functional Office/Warehouse in Tucson

      6,943 SF office/warehouse on a fenced lot, convenient location.
      3238 E Columbia St, Tucson, AZ 85714
      View Details
    • $325,000
      Pending

      Tucson Triplex Investment Opportunity

      Triplex in Tucson near restaurants and shopping with storage shed.
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    • New
      $4,500,000
      10,000 SF

      Tucson Manufacturing Facility with Equipment

      Turn-key manufacturing facility with equipment in Tucson, Arizona.
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    • Contact for pricing
      1,597 SF

      Tucson Retail Space Near VA

      Retail space in dense Tucson area, near VA Medical Center.
      3925 S 6Th Ave, Tucson, AZ 85714
      View Details
    • $178,000
      0.23 Acres

      Tucson Land on 12th Avenue

      Commercial land available in Tucson, utilities ready to connect.
      4572 S 12Th Ave, Tucson, AZ 85714
      View Details
    • $178,000
      0.22 Acres

      Land on 12th Avenue, Tucson

      Commercial land available in Tucson, Arizona with utilities ready.
      4568 S 12Th Ave, Tucson, AZ 85714
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      721 SF

      Versatile Space Near Interstate 10

      Updated flex space suitable for industrial, retail, or office use.
      4595 S Palo Verde Rd, Tucson, AZ 85714
      View Details
    • $18 SF/Yr

      Retail/Office Space in Metropolitan Area

      Prime retail/office space in a strong Tucson trade area.
      315 W Irvington Rd, Tucson, AZ 85714
      View Details
    • Contact for pricing
      5,400 SF

      Versatile Space Near Key Locations

      Retail, office, and warehouse space with high visibility available.
      3860 S Palo Verde Rd, Tucson, AZ 85714
      View Details
    • Contact for pricing

      Versatile Building in Butterfield Business Center

      Building with freeway access, visibility, and flexible space.
      4861 S Hotel Dr, Tucson, AZ 85714
      View Details
    • $1.00 SF/Yr
      2,093 SF

      Flexible Space near I-10 Freeway

      Versatile building with retail, office, and industrial potential near I-10.
      4861 South Hotel Dr, Tucson, AZ 85714
      View Details
    • Contact for pricing

      Industrial Space Available For Lease

      Industrial warehouse space available for lease in Tucson, Arizona.
      3700-3716 E Columbia St, Tucson, AZ 85714
      View Details
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    4115 Illinois St
    Tucson, AZ 85714-2122
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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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