990 17Th StTucson, AZ 85719

Property Details for 990 17Th St

Year built

1979

Construction

STEEL FRAME

Lot size

0.21 AC

Property size (Sq ft)

4,235 SF

Property type

Office buildings

APN

124-17-0390

APU

124170390

Description

This exceptional Class A, multi-tenant property at 990 E. 17th St, Tucson, AZ 85719, presents a compelling investment opportunity. Boasting 18,295 square feet of office and industrial space, the property is currently 100% occupied with two 5-year leases in place, each featuring a 3% annual rent escalation. The building underwent a comprehensive renovation in 2023, resulting in a distinctive, award-winning contemporary design. Sustainable features include solar power, climate-adaptive systems, and electric vehicle charging stations. Situated in a designated opportunity zone, this property benefits from a prime location near the University of Arizona, Downtown Tucson, and Tucson International Airport. Additional amenities include a private courtyard, secure fenced lot, bright skylights, an organic garden, 24-hour access, central heating, and high ceilings with abundant natural light. The property is zoned C-3 (City of Tucson) and features a Net Net Net (NNN) lease structure. The asking price is $1,299,000, representing a strong $71 per square foot and an attractive 8.36% capitalization rate based on a Net Operating Income (NOI) of $108,684. The property's APN is 124-17-0390 & 124-17-0400. This is a rare opportunity to acquire a high-performing, sustainable, and well-located commercial property in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $733,180

  6.5%

  $676,782

  7%

  $628,440

• Comparable approach

  Method

  Valuation

  Relative Method

  $704,704

  Geo Method

  $704,704

• Alternative Use

  Use

  Valuation

  Residential

  $839,209

  Hospitality

  $768,711

  Educational

  $639,559

  Medical

  $661,554

  Retail

  $994,869

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2131

Longitude

-110.955

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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