Updated Oct 28, 2024
Contour Real Estate & Shopoff Realty Investments Acquire 54-Acre Development Site In Buckeye, Arizona With Buyer's Rep Paul Borgesen & Dylan Sproul
South Rainbow Road and West Southern Avenue, Buckeye, Arizona 85326, United States
$6,500,000
Building Size
—
Asset Type
Development Site
Closing
Dec 22, 2021
About this deal
AI
The Southeast Corner of Southern Ave. & Rainbow Rd in Buckeye, Arizona has been sold in a transaction that closed on 12/22/2021. The property, a development site covering 54 acres, was purchased by Contour Real Estate & Shopoff Realty Investments from KWC Motorsports LLC. The sale was facilitated by Paul Borgesen & Dylan Sproul of SVN Desert Commercial Advisors. The purchase price for the property was $6,500,000.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $6,500,000
- Address: Southeast Corner of Southern Ave. & Rainbow Rd, Buckeye, Arizona
- Market: Buckeye, Arizona
- Buyer: Contour Real Estate & Shopoff Realty Investments
- Seller: KWC Motorsports LLC
- Brokers: Paul Borgesen & Dylan Sproul - SVN Desert Commercial Advisors
Paul Borgesen and Dylan Sproul of SVN Desert Commercial Advisors represented the buyer Contour Real Estate & Shopoff Realty Investments in this transaction.
Players
Buckeye Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93