2601 Houghton RdTucson, AZ 85730

  • Retail properties
  • 14,375 SF
For Sale
$6,287,000 View listing

Property Details for 2601 Houghton Rd

Year built
2004
Construction
FRAME
Lot size
1.85 AC
Property size (Sq ft)
14,375 SF
Property type
Retail properties
Property subtype
Drug stores
APN
136-10-0940
APU
136100940

Description

This exceptional investment opportunity presents a fee-simple ownership of a 14,375-square-foot CVS Pharmacy located at 2601 S Houghton Rd, Tucson, AZ 85730. The property sits on a 1.85-acre lot and boasts a 7.00% cap rate with a strong NOI of $440,078. The absolute NNN lease with CVS Pharmacy has a remaining term of seven years, expiring January 31, 2031, and includes two five-year renewal options at a fixed monthly rate of $32,313.98. This translates to an annual rent of $387,767.76 during the renewal periods, extending the lease to January 31, 2041. Following this, eight additional five-year renewal options are available at market rent, extending the potential lease term to 2081. The property is strategically located near major retailers including Walmart, Target, Kohl's, and Home Depot, benefiting from high traffic counts on E Golf Links Rd (27,799 CPD) and S Houghton Rd (21,043 CPD). Furthermore, its proximity to the University of Arizona and two major hospitals enhances its desirability and long-term stability. Built in 2005, this single-story building is zoned C and represents a top-performing CVS location, ranking within the top 88% of CVS units in Arizona and the top 83% nationally. This is a rare opportunity to acquire a high-performing, long-term net lease investment with significant upside potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,093,769
    6.5%
    $1,932,710
    7%
    $1,794,659
  • Comparable approach

    Method
    Valuation
    Relative Method
    $6,027,840
    Geo Method
    $6,027,840
  • Alternative Use

    Use
    Valuation
    Residential
    $1,630,313
    Hospitality
    $1,493,358
    Educational
    $1,242,456
    Medical
    $1,285,186
    Retail
    $1,932,710
2601 Houghton Rd, Tucson, Arizona

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.1912
Longitude
-110.772
CBSA code
46060
CBSA name
TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$55,529
$174,115
$340,694
$514,809
-
$967,308
$1,892,746
$2,860,054

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].