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La Paloma Office Center - Bldg 2 4051 E Sunrise Dr 28,182 SF 100% Leased Office Building Tucson, AZ 85718 $9,065,000 ($321.66/SF) 7.40% Cap Rate
Investment Highlights
- 100% leased to two high-credit tenants — Wells Fargo Advisors and Berkshire Hathaway–affiliated Long Realty — on NNN leases with annual escalations
- ±1 mile from La Encantada — Southern Arizona’s only luxury shopping center — with Westin La Paloma and La Paloma Country Club immediately southwest
- 7.3-Year WALT
Executive Summary
•100% leased, two-tenant NNN asset anchored by Wells Fargo Advisors (through November 2035) and Long Realty, a Berkshire Hathaway–affiliated HomeServices of America company (through February 2032)
•Both tenants just re-committed — Wells Fargo Advisors extended in January 2026 and is expanding into the building's final 2,508 SF; Long Realty extended through 2032 in July 2026
•Bond-like income with built-in growth — contractual annual escalations in both leases (±3%/year Long Realty; 2.3% CAGR Wells Fargo Advisors), delivering $673,483 in Year-1 NOI
•A never-vacant track record — 40 consecutive quarters at 100% occupancy (Q2 2014–Q1 2024) and ±98.5% average occupancy over the last decade, straight through the pandemic and work-from-home era
•Deep tenant roots — Wells Fargo Advisors in occupancy since 2008, Long Realty since 2007; both are original-era tenants approaching two decades in the building
•Tucson's tightest submarket — Foothills vacancy of 2.3% (C&W Q1 2026) with zero SF under construction; the immediate competitive set of 13 boutique buildings is 99.2% leased with a single 2,200 SF suite available
•Tucson's wealth belt — $175,150 average household income within three miles, 30.7% of households earning $200K+, and a $691,184 average home value
Irreplaceable Catalina Foothills location — one mile from La Encantada (Southern Arizona's only luxury shopping center), The Westin La Paloma Resort & Spa, and the Jack Nicklaus Signature La Paloma Country Club
•Genuinely low-touch NNN ownership — tenants contract and pay electric and janitorial directly; no base-year CAM budgeting or gross-up machinery
•Both tenants just re-committed — Wells Fargo Advisors extended in January 2026 and is expanding into the building's final 2,508 SF; Long Realty extended through 2032 in July 2026
•Bond-like income with built-in growth — contractual annual escalations in both leases (±3%/year Long Realty; 2.3% CAGR Wells Fargo Advisors), delivering $673,483 in Year-1 NOI
•A never-vacant track record — 40 consecutive quarters at 100% occupancy (Q2 2014–Q1 2024) and ±98.5% average occupancy over the last decade, straight through the pandemic and work-from-home era
•Deep tenant roots — Wells Fargo Advisors in occupancy since 2008, Long Realty since 2007; both are original-era tenants approaching two decades in the building
•Tucson's tightest submarket — Foothills vacancy of 2.3% (C&W Q1 2026) with zero SF under construction; the immediate competitive set of 13 boutique buildings is 99.2% leased with a single 2,200 SF suite available
•Tucson's wealth belt — $175,150 average household income within three miles, 30.7% of households earning $200K+, and a $691,184 average home value
Irreplaceable Catalina Foothills location — one mile from La Encantada (Southern Arizona's only luxury shopping center), The Westin La Paloma Resort & Spa, and the Jack Nicklaus Signature La Paloma Country Club
•Genuinely low-touch NNN ownership — tenants contract and pay electric and janitorial directly; no base-year CAM budgeting or gross-up machinery
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
28,182 SF
Building Class
B
Year Built
2008
Price
$9,065,000
Price Per SF
$321.66
Cap Rate
7.40%
NOI
$670,810
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
14,091 SF
Building FAR
0.06
Lot Size
10.00 AC
Zoning
TR - Transitional zoning
Parking
80 Spaces (2.84 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 108-12-025H | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $708,917 |
Property Taxes
Parcel Number
108-12-025H
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$708,917
Contacts
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Eric Wichterman -
Christopher Toci -
Stephanie Adams -
Diana Hernandez -
Cushman & Wakefield
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