Investment Property Available
For Sale Office

120 N Stone Avenue | Tucson, AZ

120 N Stone Avenue, Tucson, AZ 85701 United States
Investment Property Available
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

LOCATION

LEARN ABOUT THE MARKET
LEARN ABOUT THE MARKET

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