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Top 10 Properties Acquires Industrial Building In Phoenix For $21.8M
SOLD
$21,800,000
+ 4
Arizona
See Similar DealsIndustrial93,725 SF
Sold 04/25/2024
SOLD
Top 10 Properties Acquires Industrial Building In Phoenix For $21.8M
23751 North 23rd Avenue
See Similar DealsIndustrial93,725 SF
Sold 04/25/2024
+ 4
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$232
Total Square Footage:93,725 SF
Transaction Type:Sale
The industrial asset involved in the transaction is the Pinnacle Peak Commerce Center located at 23751 North 23rd Avenue in Phoenix, AZ. This Class A light industrial building spans 93,725 square feet and was sold for $21.8 million, equating to a price per square foot of $233.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $21,800,000
- Buyer: Top 10 Properties
- Seller: Undisclosed
- Market: Phoenix, AZ
Cushman & Wakefield facilitated the transaction, with a team of brokers including Dean Wiley, Kirk Kuller, Michael Matchett, Molly Hunt, Robert Buckley, Tracy Cartledge, and Will Strong representing Top 10 Properties in the acquisition of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,162,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,450.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$103,343.12
Annual Debt Service$1,240,117.46
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