2502 Campbell AveTucson, AZ 85719

Property Details for 2502 Campbell Ave

Year built

1955

Construction

FRAME

Lot size

0.12 AC

Property size (Sq ft)

16,418 SF

Property type

Retail properties

Property subtype

Strip malls

APN

112-06-2360

APU

112062360

Description

This 19,516 square foot shopping center in Tucson, Arizona, presents a compelling value-add investment opportunity. Located at 2502 N Campbell Ave, 85719, this multi-tenant retail property boasts a 6.00% cap rate (at 80% occupancy) and a pro-forma cap rate of 7.60%. Currently operating at 80% occupancy, the property generates a net operating income (NOI) of $235,100, with a pro-forma NOI projected at $297,700. The asking price is $3,918,000, translating to $200.76 per square foot. Situated on a high-traffic commercial street (over 37,800 cars daily), and near the intersection of Campbell Avenue and Grant Road (over 85,000 cars daily), the property benefits from its proximity to the University of Arizona (less than one mile away), major retailers (including Starbucks, Walmart, Safeway, and Fry's), popular restaurants (Flower Child, First Watch, etc.), and the Banner – University Medical Center. The property's C-1 zoning in Pima County allows for a variety of retail uses. A significant value-add potential exists through lease-up of vacant space and rent increases to market rates, projecting a substantial NOI increase. The current price per square foot is significantly below estimated replacement cost. This property offers a strong combination of location, income potential, and value-add upside.

• CAP approach

  CAP return

  Valuation

  6%

  $4,178,254

  6.5%

  $3,856,850

  7%

  $3,581,361

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,884,527

  Geo Method

  $6,884,527

• Alternative Use

  Use

  Valuation

  Residential

  $3,253,397

  Hospitality

  $2,980,094

  Educational

  $2,479,404

  Medical

  $2,564,674

  Retail

  $3,856,850

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2522

Longitude

-110.944

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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