1277 Investment Alliance Acquires Office Building For $9 Million In Phoenix, AZ
1277 East Missouri Avenue, Phoenix, Arizona 85014, United States
$9,000,000
$362/SF
Building Size
24,800 SF
Asset Type
Office
Closing
Jun 16, 2022
AI
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.
Players
Phoenix Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93