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Provider Real Estate Partners Fund I LP Acquires Chandler Medical Center For $7.3M
SOLD
$7,300,000
Arizona
See Similar DealsMedical Office22,591 SF
Sold 06/20/2024
SOLD
Provider Real Estate Partners Fund I LP Acquires Chandler Medical Center For $7.3M
655 South Dobson Road
See Similar DealsMedical Office22,591 SF
Sold 06/20/2024
Summary
ARIZONA
Asset Type:Medical Office
Price Per Square Foot:$323
Total Square Footage:22,591 SF
Transaction Type:Sale
The Chandler Medical Center, a 22,591-square-foot Medical Office located at 655 South Dobson Road in Chandler, AZ, was recently sold for $7,300,000 at a price per square foot of $323.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $7,300,000
- Address: 655 South Dobson Road
- Market: Chandler, AZ
- Brokers: Cole Neville, Lane Neville & Matt Westra - NAI Capital
NAI Horizon facilitated the $7.3 million sale of the Chandler Medical Center to Cleveland's Provider Real Estate Partners Fund I LP, marking a transaction where NYC-based Tolis Advisors transferred ownership.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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