For Sale
$3,918,000

2502 Campbell AveTucson, AZ 85719

High-traffic Tucson shopping center, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
116
This 19,516 square foot shopping center in Tucson, Arizona, presents a compelling value-add investment opportunity. Located at 2502 N Campbell Ave, 85719, this multi-tenant retail property boasts a 6.00% cap rate (at 80% occupancy) and a pro-forma cap rate of 7.60%. Currently operating at 80% occupancy, the property generates a net operating income (NOI) of $235,100, with a pro-forma NOI projected at $297,700. The asking price is $3,918,000, translating to $200.76 per square foot. Situated on a high-traffic commercial street (over 37,800 cars daily), and near the intersection of Campbell Avenue and Grant Road (over 85,000 cars daily), the property benefits from its proximity to the University of Arizona (less than one mile away), major retailers (including Starbucks, Walmart, Safeway, and Fry's), popular restaurants (Flower Child, First Watch, etc.), and the Banner – University Medical Center. The property's C-1 zoning in Pima County allows for a variety of retail uses. A significant value-add potential exists through lease-up of vacant space and rent increases to market rates, projecting a substantial NOI increase. The current price per square foot is significantly below estimated replacement cost. This property offers a strong combination of location, income potential, and value-add upside.

Highlights

  • $3,918,000 asking price for a 19,516 square foot shopping center in Tucson, Arizona.
  • 6.00% cap rate (80% occupancy), pro-forma cap rate of 7.60%.
  • Located one mile from the University of Arizona, on high-traffic N. Campbell Avenue.
  • Surrounded by strong national and local retailers, near Banner - University Medical Center and the Arizona Inn.
  • Value-add opportunity with significant NOI growth potential; priced at $200.76/SF, well below replacement cost.

Property Details for 2502 Campbell Ave

Property type
Lifestyle centers, Power centers
Square Feet
19,516 SF

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.2521954
Longitude
-110.9436083
2502 Campbell Ave, Tucson, Arizona

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2502 Campbell Ave
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