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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Office Spaces
600 Meyer Ave, Tucson, AZ 85701-2578
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US07-0089148
Property summary
AI-generated overview
This exceptional 11,429 square foot executive office building, located at 600 S Meyer Ave in Tucson, Arizona, presents a unique investment opportunity. Built in phases between 1915 and 1930, and extensively renovated in 2009, this two-story building boasts above-standard finishes, including vaulted ceilings and a modern elevator, while preserving its historic character with thick adobe and block exterior walls. The property features 24 parking spaces and sits on a 17,523 square foot lot, zoned HC-3, allowing for a variety of commercial and residential uses. Solar panels provide 100% or more of the building's power needs, significantly reducing operating costs. Its prime downtown location offers easy walkability to restaurants, entertainment venues, courts, and business centers, making it an ideal owner-user or multi-tenant property. The asking price is $3,080,000. The APN is 117-14-3290. This property represents a rare blend of historical significance and modern functionality in the heart of Tucson's revitalized downtown area.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1933
Construction
FRAME
Total area
5,064 SF
Lot
0.4 ac (17,523 SF)
APN
117-14-3290
UPID
US07-0089148
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
Current use
Occupant on record · Public records
-
Haley & Aldrich Environmental Engineer Environmental Consultant
-
Immodo International Corporation General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$2.50M
Owner & transaction history
Industrial Dev Authority Of City Of · 1 yrs held
Industrial Dev Authority Of City Of
since 2024
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+18.4%
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
$2,500,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,995,000
Current use
RESTAURANT
$2,360,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.50M (Nov 26 2024)
Last sale anchor
$2.50M
Nov 26 2024
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
$494 / 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
$15,519
Tax year 2023
Assessed value
$139,500
Assessed 2024
Previous assessed
$158,076
-11.8% YoY
Effective rate
11.12%
On assessed value
Assessed land
$37,850
Assessed improvement
$101,650
Land market value
$210,276
Improvement market value
$564,724
Total market value
$775,000
Applied tax rate
150.0000
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
Off-Market
Year built
1933
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
5,064 SF
Lot
0.4 ac (17,523 SF)
APN
117-14-3290
UPID
US07-0089148
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
$2.0M
RESTAURANT
Est. value
$2.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1933
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
Industrial Dev Authority Of City Of
Entity
Mailing address
4750 N ORACLE RD STE #210, TUCSON, AZ 85705-1676
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2024
$2,500,000
Industrial Dev Authority Of City Of
Ha Real Estate LLC
Special Warranty Deed
$1,167,000 · Vantage West Cu
Sep 13, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Jul 25, 2007
$900,000
Ha Real Estate LLC
Sitzman,michael J & Diane L
Warranty Deed
related
—
Jul 25, 2007
—
O-family I LLC
Ollanik,david E & Michelle B
Warranty Deed
related
—
Jan 25, 2007
—
Michael J Sitzman
Sitzman,michael J & Diane L
Quit Claim Deed
related
$430,000 · Commerce Bank Of Arizona
Dec 23, 2005
$575,000
Michael J Sitzman
600 South Meyer LLC
Grant Deed
related
$400,000 · 600 South Meyer LLC
Sep 12, 2003
$400,000
600 South Meyer LLC
9th Avenue Market LLC
Grant Deed
related
—
Jan 15, 1999
$219,000
L'hermitage LLC
Gee,suey L
Grant Deed
related
$100,000 · Seller
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.
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