What is the average asking rent for retail space in Tucson?

As of Q1 2026, the average asking rent for retail space in Tucson was $24.39/SF, per Picor.

What is the retail vacancy rate in Tucson?

The retail vacancy rate in Tucson was 8.9% as of Q1 2026 (Picor).

Where does PropZone's Tucson market data come from?

This report aggregates quarterly retail market data for Tucson from Picor, Cushman & Wakefield.

Tucson Retail Market Report

By PropZone Research · Data through Q1 2026 · Aggregated from Picor, Cushman & Wakefield

Quarterly retail market indicators for Tucson, aggregated by PropZone from Picor, Cushman & Wakefield. As of Q1 2026, average asking rent was $24.39/SF with a 8.9% vacancy rate.

Projected current retail pricing — Tucson

low confidence

Projected asking rent

$24.39–$24.51/SF/yr

Estimated sale value

$229–$291/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Picor data (cap rate 6.3%, asking rent trend-adjusted to today). Assumes ~91% occupancy and a 65–82% net-operating-income margin.

Quarter	Asking rent	Vacancy	Net absorption	Under constr.	Source
Q1 2026	$24.39/SF	8.9%	70K SF	—	Picor
Q4 2023	—	6.0%	—	—	Cushman & Wakefield

Frequently asked questions

What is the average asking rent for retail space in Tucson?: As of Q1 2026, the average asking rent for retail space in Tucson was $24.39/SF, per Picor.
What is the retail vacancy rate in Tucson?: The retail vacancy rate in Tucson was 8.9% as of Q1 2026 (Picor).
Where does PropZone's Tucson market data come from?: This report aggregates quarterly retail market data for Tucson from Picor, Cushman & Wakefield.

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