11901-11941 1St AveOro Valley, AZ 85737

Property Details for 11901-11941 1St Ave

Year built

2007

Lot size

6.58 AC

Property size (Sq ft)

41,642 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 41,642 square foot, 14-tenant retail center in Oro Valley, Arizona, presents a compelling investment opportunity. Anchored by a long-term Ace Hardware and featuring a diverse mix of national and local tenants including Subway, Edward Jones, Anytime Fitness, and Athletico Physical Therapy, the property boasts 100% occupancy and a strong NOI of $709,995. Built in 2007, the four-building, single-story center sits on a 6.58-acre lot and benefits from recent parking lot improvements (2023) and attractive custom art installations. The property enjoys a prime location with excellent visibility and access from Tangerine Road and 1st Avenue, experiencing high traffic counts (±40,155 vehicles daily at the intersection). Situated within affluent neighborhoods, including Rancho Vistoso and Catalina Shadows, the center serves a high-income demographic (average household income of nearly $145,000 within 1 mile). The center's consistent performance is further evidenced by its strong year-over-year visit growth (nearly 663,000 visits in the past 12 months, according to Placer.ai data), placing it in the top 10% of Tucson centers based on visits per square foot. The stabilized investment offers a 6.89% cap rate and an asking price of $10,300,000 ($247.35/sq ft). The majority of tenants have been in place for over a decade, with built-in rent bumps providing consistent income growth. APN: 224-02-1710, 224-02-1720.

Location Insight

City

Oro Valley

County

Pima

State

Arizona

Latitude

32.4224

Longitude

-110.963

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