610 Park Ave Tucson, AZ 85719-6735

Property Details for 610 Park Ave

Year built

1954

Construction

FRAME

Lot size

0.68 lot acres

Property size

21,094 SF

Property type

Manufacturing properties

APN

124-15-004A

APU

12415004A

Description

This exceptional 21,094-square-foot mixed-use property, located at 610 S Park Ave, Tucson, AZ 85719, presents a compelling investment opportunity. Originally constructed in 1954 and undergoing ongoing renovations, this repurposed warehouse boasts a unique blend of creative office spaces, manufacturing facilities, and an event center. Currently housing 22 tenants with 100% occupancy, the property generates a substantial income stream. The building features 30-foot ceilings, two dock-high doors, and 14 parking spaces. Situated on a 29,717-square-foot lot, it is zoned I-1 by the City of Tucson. The asking price is $3,400,000, with a pro-forma cap rate of 6.73% and a pro-forma NOI of $228,798. All furniture, fixtures, and equipment are included in the sale. The property benefits from its location in Tucson's thriving downtown arts district, close to restaurants, offices, and hotels. Rent bumps are in place, offering potential for future income growth. This one-of-a-kind property offers a diverse income stream, a proven track record, and significant upside potential. The current configuration includes a high-end furniture manufacturing operation, co-working executive office suites, and a versatile event center. Seller financing and potential 1031 exchanges may be considered. This is a rare opportunity to acquire a fully operational, income-producing property with significant long-term growth potential.

Location Insight

City

Tucson

County

Pima

State

Arizona

Longitude

-110.957

Latitude

32.2144

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments