CBRE Brokers, Geoffrey Turbow & Gary Cornish, Facilitate $8.5M Industrial Sale In Phoenix, AZ
SOLD
$8,500,000
Arizona
See Similar DealsIndustrial48 SF
Sold 12/28/2022
SOLD
CBRE Brokers, Geoffrey Turbow & Gary Cornish, Facilitate $8.5M Industrial Sale In Phoenix, AZ
3201 East Broadway Road, Phoenix, Arizona 85040, United States
See Similar DealsIndustrial48 SF
Sold 12/28/2022
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$177,083
Total Square Footage:48 SF
Transaction Type:Sale
The industrial property located at 3201 East Broadway Road in Phoenix, AZ has been sold for a total of $8,500,000. The property spans across 48,448 square feet, resulting in a price per square foot of $175. The transaction took place on December 28, 2022.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $8,500,000
- Square Footage: 48,448
- Price Per Square Foot: $175
- Date: December 28, 2022
- Market: Phoenix, AZ
- Brokers: Geoffrey Turbow & Gary Cornish - CBRE
The sale of the industrial property at 3201 East Broadway Road was facilitated by Geoffrey Turbow and Gary Cornish of CBRE. They represented the parties involved in the transaction and ensured a successful deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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