1277 Investment Alliance Acquires Office Building For $9 Million In Phoenix, AZ
SOLD
$9,000,000
Arizona
See Similar DealsOffice24,800 SF
Sold 06/17/2022
SOLD
1277 Investment Alliance Acquires Office Building For $9 Million In Phoenix, AZ
1277 East Missouri Avenue, Phoenix, Arizona 85014, United States
See Similar DealsOffice24,800 SF
Sold 06/17/2022
Summary
ARIZONA
Asset Type:Office
Price Per Square Foot:$362
Total Square Footage:24,800 SF
Transaction Type:Sale
The office property located at 1277 E Missouri Ave in Phoenix, AZ has been sold for a price of $9,000,000. Spanning an area of 24,800 square feet, the property was acquired by 1277 Investment Alliance from Helix Properties. The transaction was facilitated by Mike Wichterman from Cushman & Wakefield.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,000,000
- Square Footage: 24,800
- Price Per Square Foot: $365
- Address: 1277 E Missouri Ave, Phoenix, AZ
- Market: Phoenix, AZ
Mike Wichterman from Cushman & Wakefield served as the broker in this sale. This successful transaction highlights the involvement of key individuals and companies in the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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