Rialto Capital Management Sells Glendale Office Building For $7.67M With Kidder Mathews Brokers
SOLD
$7,668,750
+ 1
Arizona
See Similar DealsOffice43,553 SF
Sold 04/20/2024
SOLD
Rialto Capital Management Sells Glendale Office Building For $7.67M With Kidder Mathews Brokers
16222 N 59th Ave
See Similar DealsOffice43,553 SF
Sold 04/20/2024
+ 1
Summary
ARIZONA
Asset Type:Office
Price Per Square Foot:$176
Total Square Footage:43,553 SF
Lot Square Footage:189050 SF
Transaction Type:Sale
The property involved in this transaction is an office asset located at 16222 N 59th Ave in Glendale. The property was sold for $7,668,750.00 and encompasses a total area of 43,553 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,668,750.00
- Address: 16222 N 59th Ave
- Market: Glendale
- Square Footage: 43,553.0
- Seller: Rialto Capital Management
The brokers representing the transaction include Zack Harris, Patrick Gardner, Michael Dupuy, Perry Gabuzzi, Darren Tappen, and Nathan Thinnes, all affiliated with Kidder Mathews. Zack Harris is mentioned twice as a broker in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$409,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,245.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,353.79
Annual Debt Service$436,245.45
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