1204 Alvernon WayTucson, AZ 85712

Property Details for 1204 Alvernon Way

Year built

1978

Construction

FRAME

Lot size

0.14 AC

Property size (Sq ft)

2,300 SF

Property type

Grocery and convenience stores

APN

122-13-060A

APU

12213060A

Description

This exceptional retail property, located at 1204 N Alvernon Way in Tucson, Arizona, presents a unique investment opportunity. The 2,000 square foot building, constructed in 1978, is currently vacant and offers significant potential for a variety of retail uses. The property boasts a prime location near the busy intersection of Speedway Boulevard and Alvernon Way, ensuring high visibility and substantial foot traffic. A prominent pole sign further enhances its marketing potential. The property is zoned C-1 & R-2 by the City of Tucson, providing flexibility for various commercial and residential uses (subject to city approvals). The asking price is $499,000. The property's APN is 122-13-060A

• CAP approach

  CAP return

  Valuation

  6%

  $585,332

  6.5%

  $540,307

  7%

  $501,713

• Comparable approach

  Method

  Valuation

  Relative Method

  $964,454

  Geo Method

  $964,454

• Alternative Use

  Use

  Valuation

  Residential

  $455,769

  Hospitality

  $417,482

  Educational

  $347,340

  Medical

  $359,286

  Retail

  $540,307

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2382

Longitude

-110.909

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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