601 Simpson StTucson, AZ 85701

Property Details for 601 Simpson St

Year built

2003

Lot size

2.99 AC

Property size (Sq ft)

25,736 SF

Property type

Retail properties

APN

116-23-155E

APU

11623155E

Description

This exceptional 5.59-acre commercial and industrial lot presents a rare development opportunity in the heart of Tucson, Arizona. Strategically located near the Tucson Convention Center and directly off Interstate 10, this property boasts unparalleled accessibility and visibility. The lot is zoned I-1, offering a wide range of potential uses. With a substantial 243,374 square feet of land, the site is ideal for large-scale projects. The property's location makes it particularly well-suited for businesses catering to the annual Gem Show, offering significant potential for high returns. Furthermore, the permitted 75-foot maximum building height allows for the development of multi-family dwellings, apartments, or even a hotel, significantly expanding the investment possibilities. The property's address is 601 W Simpson St, Tucson, AZ 85701, within Pima County. Parcel numbers are 116-23-155E and 116-23-2080. The asking price for this unique opportunity is $5,560,000. This is an individually owned property.

• CAP approach

  CAP return

  Valuation

  6%

  $6,549,614

  6.5%

  $6,045,797

  7%

  $5,613,954

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,791,825

  Geo Method

  $10,791,825

• Alternative Use

  Use

  Valuation

  Residential

  $5,099,856

  Hospitality

  $4,671,440

  Educational

  $3,886,584

  Medical

  $4,020,249

  Retail

  $6,045,797

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2142

Longitude

-110.978

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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