2960 1St AveTucson, AZ 85719

Property Details for 2960 1St Ave

Year built

1973

Construction

FRAME

Lot size

0.35 AC

Property size (Sq ft)

2,911 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

113-08-021B

APU

11308021B

Description

This thriving Tucson restaurant and bar, located at 2960 N 1st Ave, presents a fantastic turnkey opportunity. The 2,911 square foot space, situated on a 0.35-acre lot (APN 113-08-021B), boasts recent interior and exterior upgrades, minimizing the need for significant capital investment. The single-story, Class C building (built in 1973) is zoned C2, offering flexibility for various uses. The property features ample paved parking, a significant advantage for patrons. Its prominent storefront location on 1st Ave ensures high visibility and convenient access. The sale includes most furniture, fixtures, and equipment (FFE), making it truly ready to operate. This established business benefits from its central Tucson location, close to the University of Arizona, residential areas, and corporate businesses. While the current business name is not included in the sale, the possibility of transferring it is open for discussion. This is an exceptional chance to acquire a well-positioned, fully equipped restaurant and bar in a high-traffic area. The asking price is $795,000, translating to $273.10 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $740,827

  6.5%

  $683,840

  7%

  $634,995

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,220,664

  Geo Method

  $1,220,664

• Alternative Use

  Use

  Valuation

  Residential

  $576,845

  Hospitality

  $528,387

  Educational

  $439,612

  Medical

  $454,731

  Retail

  $683,840

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2606

Longitude

-110.961

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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