Tucson Retail Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Marcus & Millichap, Cushman & Wakefield
Quarterly retail market indicators for Tucson, aggregated by CREhunt from Marcus & Millichap, Cushman & Wakefield. As of Q1 2026, average asking rent was $16.95/SF/yr and vacancy was 6.6%, per Marcus & Millichap.
Projected current retail pricing — Tucson
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 multiple brokerages data (cap rate 6.3%, asking rent trend-adjusted to today). Assumes ~93% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Marcus & Millichap | $16.95/SF/yr | 6.6% | 260K SF | — | Marcus & Millichap |
| Q2 2025 Cushman & Wakefield | $20.10/SF/yr | 6.0% | -116K SF | — | Cushman & Wakefield |
| Q4 2024 Cushman & Wakefield | $17.81/SF/yr | 5.8% | 199K SF | — | Cushman & Wakefield |
Retail asking rents by submarket
The newest asking rent a named brokerage's report published for each Tucson retail submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| *SRoeuntthawl reasttes reflect Triple Net as | $19.07/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Central East | $15.67/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Central West | $16.05/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| East | $17.92/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Foothills | $21.52/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| North/Oro Valley | $29.15/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Northeast | $23.57/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Northwest | $21.19/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| South | $12.16/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| South/SW Outlying | $17.77/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Southeast | $28.75/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| West | $15.77/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
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 $16.95/SF/yr, per Marcus & Millichap.
- What is the retail vacancy rate in Tucson?
- The retail vacancy rate in Tucson was 6.6% as of Q1 2026 (Marcus & Millichap).
- Where does CREhunt's Tucson market data come from?
- This report aggregates quarterly retail market data for Tucson from Marcus & Millichap, Cushman & Wakefield.