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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8975 Tanque Verde Rd Tucson, AZ 85749-9466

    • Retail space
    • 29,790 SF
    • 2.81 lot acres
    OFF-MARKET
    Value Estimations
    $3,395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0855618
    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

    • Goodwill at Bear Canyon Center / Donations Center
    • the BLOC climbing+fitness+yoga / Rock Climbing Gym / Personal Trainer
    • heartSTONE studio, 2nd story at the BLOC / Yoga Studio / Pilates Studio

    Property Details for 8975 Tanque Verde Rd

    Year built
    1982
    Construction
    FRAME
    Lot size
    2.81 lot acres
    Property size
    29,790 SF
    Property type
    Retail space
    APN
    114-51-2070
    APU
    114512070

    Description

    This exceptional retail opportunity is located within the highly desirable Bear Canyon Shopping Center in Tucson, Arizona. Situated at 8975 E Tanque Verde Road, at the Northwest corner of Tanque Verde Road and Catalina Highway, this strip center offers two available spaces ranging from 1,400 to 1,950 square feet. The center boasts a strong tenant mix, including a Goodwill Superstore and The Bloc, an indoor climbing and recreational facility, ensuring high foot traffic. Further enhancing its appeal is the presence of a Pima County Library branch, attracting a consistent flow of visitors. Located in the affluent Tanque Verde Valley, one of Tucson's highest-income areas, this property benefits from a limited supply of commercial zoning, making it a rare and valuable asset. The center recently underwent exterior renovations, presenting a modern and attractive storefront. The property is zoned C-1 and C-2 by the City of Tucson and enjoys convenient access from three major arterial roads. Competitive rental rates and triple net charges make this an attractive investment for retailers or service businesses seeking a prime location in a thriving community with limited commercial space. This is a unique opportunity to establish a presence in a high-traffic, high-income area with strong existing anchors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,720,000
      6.5%
      $4,355,000
      7%
      $4,045,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,604,000
      Market price range: $2.74M - $7.21M
      AI Estimate
      $2,230,000
      Market price range: $1.30M - $4.61M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,810,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tucson
    County
    Pima
    State
    Arizona
    Longitude
    -110.8
    Latitude
    32.2598
    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
    $24,895
    $99,355
    $317,458
    $416,813
    -
    $551,970
    $1,763,653
    $2,315,623

    Comparable in this City

    • Value Estimation by Request
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      View Details
    • Value Estimation
      $1,900,000
      19,660 SF

      2931 Bear Cyn Rd

      RETAIL STORES (PERSONAL SERVICES) • 19,660 SF
      2931 Bear Cyn Rd, Tucson, AZ 85749-9493
      View Details
    • Value Estimation by Request
      3,184 SF

      11050 Tanque Verde Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,184 SF
      11050 Tanque Verde Rd, Tucson, AZ 85749-6700
      View Details
    • Value Estimation by Request
      43,838 SF

      Tanque Verde Rd. & Bear Cyn Rd

      Restaurants • 43,838 SF
      0 Tanque Verde Rd. & Bear Cyn Rd, Tucson, AZ 85749
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    • Value Estimation by Request
      0.21 Acres

      11060 Tanque Verde Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.21 Acres
      11060 Tanque Verde Rd, Tucson, AZ 85749
      View Details
    • Value Estimation by Request
      96,697 SF

      Tanque Verde Rd. & Catalina Hwy

      Individual retail properties • 96,697 SF
      0 Tanque Verde Rd. & Catalina Hwy, Tucson, AZ 85749
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Tucson Retail Center: 3 Suites Available
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    8975 Tanque Verde Rd
    Tucson, AZ 85749-9466
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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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