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Block C Properties LLC Acquires Industrial Property From North Forbes LLC For $3.9M

Property Image
SOLD
$3,900,000

Arizona

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Industrial40,078 SF
Sold 06/19/2024
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Property Image
SOLD

Block C Properties LLC Acquires Industrial Property From North Forbes LLC For $3.9M

2106 North Forbes Boulevard

See Similar Deals
Industrial40,078 SF
Sold 06/19/2024
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$97
Total Square Footage:40,078 SF
Transaction Type:Sale

The industrial property located at 2106 North Forbes Boulevard in Tucson, AZ, was sold for $3,900,000. The property spans 40,078 square feet, resulting in a price per square foot of $97. The transaction took place on June 19, 2024, with Block “C” Properties LLC purchasing the property from North Forbes LLC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,900,000
  • Address: 2106 North Forbes Boulevard
  • Market: Tucson, AZ
  • Square Footage: 40,078
  • Buyer: Block “C” Properties LLC
  • Seller: North Forbes LLC
  • Broker: Stephen Cohen - Cushman & Wakefield

The sale of the industrial property was facilitated by Stephen Cohen of Cushman & Wakefield | PICOR, who represented both the buyer and the seller in the transaction, ensuring a smooth and successful deal for Block “C” Properties LLC and North Forbes LLC.

Players

Stephen Cohen
Cushman & Wakefield
Stephen Cohen
4 deals$15.7M volume(520) 977-7101
BROKER

Details

SOLD
IMAGE: 06/19/2024 ADDRESS: 2106 North Forbes Boulevard MARKET: Tucson, AZ ASSET TYPE: Industrial BUYER: Block “C” Properties LLC SELLER: North Forbes LLC BROKER: Stephen Cohen - Cushman & Wakefield SALE PRICE: $3,900,000 SF: 40,078 ~ PPSF: $97 NOTE: Cushman & Wakefield | PICOR facilitated the $3.9 million sale of a 40,078-square-foot industrial property at 2106 N. Forbes Blvd. in Tucson, from North Forbes LLC to Block “C” Properties LLC. Stephen Cohen of Cushman & Wakefield | PICOR represented both the buyer and seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88