Investment Property
For Sale
  • Office

    • 120 N Stone Avenue | Tucson, AZ

    120 N Stone Avenue, Tucson, AZ 85701 United States
    Investment Property
    For Sale
  • Office

    • 120 N Stone Avenue | Tucson, AZ

    120 N Stone Avenue, Tucson, AZ 85701 United States
    Building Class
    Class B
    Building Size
    36,064 SF
    Lot Size
    .59 Acres
    Construction Status
    Built
    Building Class
    Class B
    Building Size
    36,064 SF
    Lot Size
    .59 Acres

    OVERVIEW

    Seller financing available at favorable terms. Two (2) story multi-tenant mixed use office/retail building totaling ±36,064 square feet. Anchored by PNC Bank as a retail bank branch has operated in this location since 1990 and currently holds ±$150 million in deposits. ±79% leased to a diverse tenant roster also includes the Tucson Better Business Bureau, Mako Mining and Illume Advising. Stone Avenue frontage in the heart of vibrant Downtown Tucson’s Central Business District.

    CONTACT

    Key Features
    • 8.24% Cap Rate
    • Excellent value-add opportunity to increase cash flow can by leasing the underutilized basement space with eleven (11’) ceilings, fire suppression sprinklers, three (3) stairwells and two (2) elevators. Potential uses include today’s popular ‘speakeasy’ bar.
    • Retail vacancy in the Central Business District is ±3.7% encompassing ±4.3 million square feet.
    • The Downtown office market is experiencing a surge in demand with low levels of supply and a healthy overall vacancy rate of ±3.3%.
    • Direct access to adjacent parking garage includes 24 owned parking spaces and ROFR on an additional 94 parking spaces as governed by a perpetual easement.
    • Zoning: OCR-2 (office/commercial/residential), which allows for occupancy by a diverse array of tenant uses.
    • Transit oriented location with near-immediate light rail access via the Sun Link Streetcar, and ½-mile access to Interstate 10, Arizona’s primary transportation corridor and gateway to all other freeways.
    • Long term ownership, expertly maintained since 2004.

    Details

    Building Class:
    Class B
    Building Size:
    36,064 SF
    Sale Price:
    $4,200,000 USD
    Price Per Unit:
    $116.46 / USD
    Lot Size:
    .59 Acres
    Construction Status:
    Built

    CONTACT

    120 N Stone Avenue | Tucson, AZ

    AVAILABILITIES

    SORT: AVAILABLE SPACE

    LOCATION

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