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Shoppes at Bears Path 8800-9165 E Tanque Verde Rd 43,838 SF 70% Leased Retail Building Tucson, AZ 85749 $8,350,000 ($190.47/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- VALUE-ADD POTENTIAL AND LEASE-UP OPPORTUNITY
- AFFLUENT DEMOGRAPHICS
- PRIME LOCATION WITH HIGH VISIBILITY AND ACCESS
EXECUTIVE SUMMARY
CBRE National Retail Partners Group, as exclusive advisors, is pleased to present the opportunity to acquire The Shoppes at Bears Path (the “Property” or “Opportunity”). Shoppes at Bears Path is a 43,838 square foot neighborhood strip center located at 8868 E Tanque Verde Road in Tucson, Arizona. Currently 70.3% occupied, the property features a diverse blend of national, regional, and local tenants. This property offers immediate upside through strategic lease-up of 13,006 square feet of space.
Positioned along one of Tucson’s most affluent and trafficked corridors, the center benefits from excellent visibility, strong vehicular counts, and proximity to high-income residential neighborhoods. The tenant mix includes established brands such as Anytime Fitness, Leslie’s Pool Supplies, State Farm, and Rosati’s Pizza, alongside unique local concepts like Tandem American Eatery and Owlbear Canyon Games, creating a dynamic and community-oriented retail environment.
The surrounding demographics reinforce the center’s premium positioning. Within a one-mile radius, the average household income is $145,380, projected to rise to $161,077 by 2030. The population is mature and well-educated, with a median age of 52 and nearly 50% of residents holding a bachelor’s degree or higher. The area is characterized by high home values averaging over $460,000.
Tenancy at Shoppes at Bears Path is thoughtfully curated to serve both daily needs and lifestyle preferences. The presence of the University of Arizona as a tenant adds institutional credibility, while service-oriented businesses such as Glo Skin Studio, Tanque Verde Chiropractic, and The Dance Project contribute to the center’s wellness and experiential appeal. Lease terms are staggered, with several tenants on multi-year agreements, providing predictable cash flow and minimizing rollover risk.
Positioned along one of Tucson’s most affluent and trafficked corridors, the center benefits from excellent visibility, strong vehicular counts, and proximity to high-income residential neighborhoods. The tenant mix includes established brands such as Anytime Fitness, Leslie’s Pool Supplies, State Farm, and Rosati’s Pizza, alongside unique local concepts like Tandem American Eatery and Owlbear Canyon Games, creating a dynamic and community-oriented retail environment.
The surrounding demographics reinforce the center’s premium positioning. Within a one-mile radius, the average household income is $145,380, projected to rise to $161,077 by 2030. The population is mature and well-educated, with a median age of 52 and nearly 50% of residents holding a bachelor’s degree or higher. The area is characterized by high home values averaging over $460,000.
Tenancy at Shoppes at Bears Path is thoughtfully curated to serve both daily needs and lifestyle preferences. The presence of the University of Arizona as a tenant adds institutional credibility, while service-oriented businesses such as Glo Skin Studio, Tanque Verde Chiropractic, and The Dance Project contribute to the center’s wellness and experiential appeal. Lease terms are staggered, with several tenants on multi-year agreements, providing predictable cash flow and minimizing rollover risk.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
43,838 SF
Building Class
B
Year Built
1988
Price
$8,350,000
Price Per SF
$190.47
Cap Rate
6.50%
NOI
$542,746
Percent Leased
70%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.45
Lot Size
2.25 AC
Zoning
C-1, Tucson - C-1, Tucson
Parking
378 Spaces (8.62 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Wheelchair Accessible
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $555,563 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$555,563
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Shoppes at Bears Path | 8800-9165 E Tanque Verde Rd
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