4651 1St AveTucson, AZ 85718

Property Details for 4651 1St Ave

Year built

1974

Construction

FRAME

Lot size

0.25 AC

Property size (Sq ft)

3,265 SF

Property type

Office properties

Property subtype

Other office properties

APN

105-09-015G

APU

10509015G

Description

This exceptional 6,553-square-foot executive office building in Tucson, Arizona, presents a unique owner-user opportunity. Located at 4651 N 1st Ave, this Class B property boasts a prime location in the Tucson Mall trade area, offering excellent visibility with direct frontage on 1st Avenue. The asking price is $786,360, translating to $120 per square foot. The property features fee simple ownership with no owner's association dues, providing significant cost savings. Ample parking is available, with a ratio of 4.6 spaces per 1,000 square feet. The TR zoning allows for versatile use, including office, medical, or light retail spaces. Multiple access points enhance convenience. The building currently has a multi-tenant occupancy, with most tenants on month-to-month or short-term leases, offering flexibility for a new owner to occupy the space or establish long-term rental income. An ALTA survey and Phase One environmental report are available. The property is situated at the base of the foothills near River Road. A proposed First Avenue widening project may include enhancements such as a pedestrian light, bicycle lane, trees, and sidewalks. Various suite sizes are available, with the potential to combine units if needed. This presents a rare opportunity to acquire a well-located, versatile commercial property in a thriving Tucson neighborhood. The APN is 105-09-015G.

• CAP approach

  CAP return

  Valuation

  6%

  $503,970

  6.5%

  $465,203

  7%

  $431,974

• Comparable approach

  Method

  Valuation

  Relative Method

  $543,296

  Geo Method

  $543,296

• Alternative Use

  Use

  Valuation

  Residential

  $576,852

  Hospitality

  $528,393

  Educational

  $439,617

  Medical

  $454,736

  Retail

  $683,848

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2921

Longitude

-110.962

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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