Matt Hamblin Acquires Mixed-Use Property In Phoenix For $1.9M
4535 East Broadway Road
$1,900,000
$314/SF
Building Size
6,039 SF
Asset Type
Mixed-use
Closing
Jun 24, 2024
About this deal
AI
The property involved in the transaction is a mixed-use asset located at 4535 East Broadway Road in Phoenix, AZ. The sale price for this 6,039-square-foot office and industrial property was $1,900,000, resulting in a price per square foot of $315. The facility, situated in Cotton Business Center, consists of 80% office space and 20% warehouse space. The property was acquired by Matt Hamblin and the transaction was facilitated by Doug Fielding of Marcus & Millichap.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,900,000
- Address: 4535 East Broadway Road
- Market: Phoenix, AZ
- Square Footage: 6,039
- Buyer: Matt Hamblin
- Broker: Doug Fielding - Marcus & Millichap
Marcus & Millichap brokered the sale of the property to Matt Hamblin. The facility is currently occupied by Smart Pest Solutions, showcasing a mix of office and warehouse space. Doug Fielding Jr. played a crucial role in the transaction as the broker representing the buyer, ensuring a smooth acquisition process for all parties involved.
Phoenix Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93