1642 Alvernon WayTucson, AZ 85712

Property Details for 1642 Alvernon Way

Year built

1971

Construction

FRAME

Lot size

0.28 AC

Property size (Sq ft)

3,776 SF

Property type

Retail properties

Property subtype

Retail space

APN

122-13-211B

APU

12213211B

Description

This exceptional 3,802 square foot freestanding office building, located at 1642 N Alvernon Way in Tucson, Arizona, presents a compelling investment opportunity. Built in 1971, this single-story property is zoned C-1 by the City of Tucson, offering versatility for a range of commercial uses. The building's classification includes Creative Office, Traditional Office, and Retail spaces, catering to diverse business needs. Priced at $395,000, the asking price equates to $104 per square foot. The property boasts ample parking, providing 4 spaces per 1,000 square feet, ensuring convenient access for employees and clients. Its strategic location in central Tucson offers excellent visibility and accessibility, situated along major bus routes, enhancing its appeal to a wide customer base. The property's APN is 122-13-211B and the zip code is 85712. This well-positioned property represents a strong investment in a thriving Tucson commercial market. The building's adaptable space and convenient location make it an ideal choice for businesses seeking a prominent presence in a central location. This is a rare opportunity to acquire a freestanding building in a high-traffic area with excellent potential for growth and return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $960,963

  6.5%

  $887,043

  7%

  $823,682

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,583,382

  Geo Method

  $1,583,382

• Alternative Use

  Use

  Valuation

  Residential

  $748,254

  Hospitality

  $685,396

  Educational

  $570,242

  Medical

  $589,853

  Retail

  $887,043

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2425

Longitude

-110.909

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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