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Golden Parachute Properties Acquires Medical Office In Tucson For $3.2M

Property Image
SOLD
$3,200,000
Alexis Corona
Matthew (Matt) Bollinger
+ 1

Arizona

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Medical Office11,200 SF
Sold 04/23/2024
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Property Image
SOLD

Golden Parachute Properties Acquires Medical Office In Tucson For $3.2M

6452 East Carondelet Drive

See Similar Deals
Medical Office11,200 SF
Sold 04/23/2024
Alexis Corona
Matthew (Matt) Bollinger
+ 1
Contact now

Summary

ARIZONA
Asset Type:Medical Office
Price Per Square Foot:$285
Total Square Footage:11,200 SF
Transaction Type:Sale

Located at 6452 East Carondelet Drive, the property involved in the transaction is a medical office spanning 11,200 square feet. The sale price for this asset was $3.2 million, translating to a price per square foot of $286. The buyer, Golden Parachute Properties, acquired this medical office space from AM Properties LLC in Tucson, AZ.

Summary of transaction details:

John Allen Smith and Matt Bollinger of Smith & Bollinger-Long Realty Co represented Golden Parachute Properties as the buyer in this transaction. On the other side, Alexis Corona and Richard Kleiner from Cushman & Wakefield acted as the seller's representatives, facilitating the sale of the medical office space in Tucson.

Players

Richard Kleiner
5 deals$19.3M volume(520) 440-2745
BROKER

Alexis Corona
Cushman & Wakefield
5 deals$19.3M volume(520) 546-2729
BROKER

Matthew (Matt) Bollinger
Long Realty
1 deal$3.2M volume(520) 918-5850
BROKER

John Allen Smith
Long Realty
1 deal$3.2M volume(520) 250-7384
BROKER

Details

SOLD
IMAGE: 04/23/2024 ADDRESS: 6452 East Carondelet Drive MARKET: Tucson, AZ ASSET TYPE: Medical Office BUYER: Golden Parachute Properties BUYER'S REP: John Allen Smith & Matt Bollinger - Smith & Bollinger-Long Realty Co SELLER'S REP: Alexis Corona & Richard Kleiner - Cushman & Wakefield SALE PRICE: $3,200,000 SF: 11,200 ~ PPSF: $286 NOTE: Golden Parachute Properties purchased 11,200 square feet of medical office space at 6452 E. Carondelet Drive in Tucson from AM Properties LLC for $3.2 million.

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

$170,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59