8530 Speedway BlvdTucson, AZ 85710

  • Retail properties
  • 1,803 SF
For Sale
$2,200,000 View listing

Property Details for 8530 Speedway Blvd

Year built
1989
Construction
STEEL FRAME
Lot size
0.51 AC
Property size (Sq ft)
1,803 SF
Property type
Retail properties
Property subtype
Gas stations
APN
133-25-1840
APU
133251840

Description

This exceptional investment opportunity presents the fee simple interest in a 1,804 square foot Chevron gas station and convenience store in Tucson, Arizona. Located at 8530 E Speedway Blvd, this single-tenant property boasts a 20.1-year absolute NNN lease with a remaining term of 18.8 years, commencing August 1, 2023, and expiring August 31, 2043. The lease includes two 5-year renewal options and features a 10% rent increase every five years, providing excellent protection against inflation. Built in 1989 and significantly renovated in 2020, the property includes four gas pumps and a well-maintained convenience store. The property sits on a 22,366 square foot lot and enjoys 100% occupancy. The current Net Operating Income (NOI) is $132,000, resulting in a 6.00% cap rate and a price per square foot of $1,219.51. The asking price is $2,200,000. This property benefits from its strategic location near major retailers such as Walmart, Sprouts, Lowe's, Fry's, and Safeway, within a densely populated area of Tucson, Arizona, the second-largest city in the state. The tenant is backed by a strong guarantor with a net worth exceeding $19.25 million. This is a truly passive investment opportunity with minimal landlord responsibilities, making it ideal for investors seeking a hands-off, high-return investment. The property's Class B designation and strong tenant history further enhance its appeal.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $262,613
    6.5%
    $242,412
    7%
    $225,097
  • Comparable approach

    Method
    Valuation
    Relative Method
    $756,048
    Geo Method
    $756,048
  • Alternative Use

    Use
    Valuation
    Residential
    $204,484
    Hospitality
    $187,306
    Educational
    $155,836
    Medical
    $161,196
    Retail
    $242,412
8530 Speedway Blvd, Tucson, Arizona

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.235
Longitude
-110.81
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
$6,528
$26,168
$33,561
$59,729
-
$145,379
$186,450
$331,829

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