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Las Plazas at Old Vail 10165 E Old Vail Rd 7,524 SF 100% Leased Retail Building Tucson, AZ 85747 $7,129,182 CAD ($947.53 CAD/SF) 6.50% Cap Rate
Investment Highlights
- 100% Occupied
- Diverse, service-oriented tenant mix
- High performing tenants in this center and the surrounding trade area (ask broker for more details)
- Brand new 2025 construction
- Long term 10 year primary lease for all tenants
- Less than 2 miles from the University of Arizona Tech Park, over 2 million square feet, home to more than 85 tenants
Executive Summary
Las Plazas benefits from a strong and complementary tenant mix designed to serve the surrounding trade area, providing daily-needs and service-based uses that help reinforce consistent traffic to the center. The fully occupied nature of the property, combined with its modern construction and long-term lease structure, creates an attractive balance of income durability and reduced near-term capital needs. In addition, the center is positioned within a highly productive retail pocket, with multiple nearby tenants ranking in the top 20% nationwide for sales, further underscoring the strength of the location and surrounding consumer demand.
The property is located within a highly visible corridor along Old Vail Road with traffic counts of approximately 30,627 vehicles per day at the nearby intersection. The site is less than two miles from the University of Arizona Tech Park, a major employment hub encompassing more than 2 million square feet and over 85 tenants. The asset also sits across from Houghton Town Center, a regional retail destination featuring national tenants including The Home Depot, Walmart Supercenter, Ross, Petco, and McDonald’s. The surrounding area is further supported by strong household incomes, with average household incomes exceeding $165,000 within a one-mile radius.
This offering represents an opportunity to acquire a stabilized, newly built Tucson retail center with diverse tenancy, durable in-place income, and strong real estate fundamentals in an established and growing retail corridor.
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Accommodation and Food Services
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Firehouse Subs began in 1994 when brothers Chris and Robin Sorensen opened their first Jacksonville, Florida location. The founders drew inspiration from their firefighting backgrounds to create the restaurant's concept. The chain serves hot and cold submarine sandwiches alongside other items like salads and desserts. Menu favorites include the Hook & Ladder and Italian sub combinations. Over three decades, the company expanded to numerous locations nationwide while maintaining its firefighter-themed decor. A portion of proceeds supports the Firehouse Subs Public Safety Foundation, which provides equipment to first responders.
- Friday Pilates
- Retailer
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- Rock And Roll Sushi
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- Finance and Insurance
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In 1937 a group of teachers with a vision came together to form a financial cooperative that could better serve the financial needs of Tucson's school employees and their families. A year later, Tucson Teachers Federal Credit Union (TTFCU) was serving 38 members and had acquired assets of nearly $349. School employees volunteered their time to run the credit union until 1941, when the Board Treasurer was put on salary and the credit union moved into the basement of Tucson High School. Twenty years later, TTFCU had grown to 2,220 members, $1.8 million in assets, and six full-time employees. The first branch was built at Winstel and Speedway in 1961 and was managed by Abba Lee Bryant, who oversaw the building of two more branches in the mid-seventies. By the early eighties, TTFCU had grown to 22,250 members and $33.7 million in assets. It was during this time that credit unions became eligible to expand their fields of membership to new groups of members.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Accommodation and Food Services | - | - | - | ||
| Friday Pilates | Retailer | - | - | - | ||
| Rock And Roll Sushi | - | - | - | - | ||
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Finance and Insurance | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 141-18-5950 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $145,499 CAD |
Property Taxes
Presented by
Las Plazas at Old Vail | 10165 E Old Vail Rd
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