902 Miracle Mile Tucson, AZ 85705-3710
Entity Owned
Free & Clear
Estimated value (blended)
$655k
Range $590k – $721k (±10%)
Implied cap rate
4.40%
In-place · NOI ÷ last sale
Property ID
US07-0205937
Property summary
AI-generated overview
This well-located Tucson convenience store presents a compelling investment opportunity. The 2,460-square-foot property, built in 1973, sits on a 0.415-acre lot zoned C-2, offering significant expansion potential. Currently operating at 100% occupancy with a lease expiring October 23, 2024, the store features a drive-thru window and generates additional monthly income of $1,400 from food truck rentals. The property boasts excellent visibility due to its proximity to I-10 and Oracle Road. Further income opportunities exist, including the potential addition of gas pumps, as indicated in the property's zoning and existing site plan. Financial details are available upon request. This owner-user investment offers a 9.9% cap rate and presents a rare chance to acquire a thriving business with substantial growth potential in a high-traffic area. The single-story building is located at 902 W Miracle Mile, Tucson, AZ 85705, Pima County, and has a parcel number of 107-06-002K.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1973
Construction
FRAME
Total area
2,460 SF
Lot
0.42 ac (18,084 SF)
APN
107-06-002K
UPID
US07-0205937
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grocery & Convenience Store
-
Restaurant
-
Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
$440k
Comparable Approach
Comparable
$849k
Blend (final)
Blend
$655k
Owner & transaction history
since 2025
Last sale
$640,000
7 recorded transactions
Zoning & alternative use
Top alternative use upside
Commercial (general)
$600,000
+33.5%
Medical building
$550,000
+21.7%
Auto repair, garage
$475,000
+5.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$655k
Value range
$590k – $721k
±10% around blend
Estimated value / SF
$266 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
$590k
blend $655k
$721k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,460 SF
Lot area
0.42 ac
Year built
1973
Stories
1
APN
107-06-002K
Assessed value
$51,302
Annual tax
$6,024
3
Income approach: direct capitalization
Partial preview
Income approach indication
$440k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$475k
@ 6.5% CAP return
$440k
@ 7% CAP return
$405k
4
Sales comparison
Partial preview
Sales approach indication
$776k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.4 mi away · 2,740 SF
5.4 mi away · 2,707 SF
7.8 mi away · 2,200 SF
8.0 mi away · 2,348 SF
10.7 mi away · 2,985 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$655k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 21 sales
$183
+45%
Submarket 148 sales
$289
-8%
County 157 sales
$292
-9%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $266/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+33%
vs current-use indication
Medical Building
Auto Repair, Garage
Neighborhood: Shopping Center · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
4.40%
Implied, in-place cap rate for this grocery and convenience stores
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.40%
9.0%
NOI (est.)
$45k *
Last sale · Sep 2023
$640k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.02M
Move the market yield to see immediate price impact.
Value / SF
$414
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.90%4.40%4.90%
$40k
$1.03M
$916k
$823k
$45k
$1.15M
$1.02M
$914k
$49k
$1.26M
$1.12M
$1.01M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$715k
4.0 mi · Sep 2025 · $298/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,024
Tax year 2023
Assessed value
$51,302
Assessed 2024
Previous assessed
$45,857
+11.9% YoY
Effective rate
11.74%
On assessed value
Assessed land
$26,041
Assessed improvement
$25,261
Land market value
$144,672
Improvement market value
$140,338
Total market value
$285,010
Applied tax rate
851.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1973
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
2,460 SF
Lot
0.42 ac (18,084 SF)
APN
107-06-002K
UPID
US07-0205937
Jurisdiction
PIMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.42 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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