JLNI LLC Acquires Office Property In Tempe, AZ For $14.1M
SOLD
$14,100,000
Arizona
See Similar DealsOffice65,857 SF
Sold 10/13/2022
SOLD
JLNI LLC Acquires Office Property In Tempe, AZ For $14.1M
6420 South Kyrene Road, Tempe, Arizona 85283, United States
See Similar DealsOffice65,857 SF
Sold 10/13/2022
Summary
ARIZONA
Asset Type:Office
Price Per Square Foot:$214
Total Square Footage:65,857 SF
Transaction Type:Sale
The office property located at 6420 S Kyrene Road in Tempe, AZ has been sold in a recent transaction. The property spans across 5.5 acres and offers a total square footage of 65,857. The sale price for this transaction was $14,100,000, resulting in a price per square foot of $214.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,100,000
- Address: 6420 S Kyrene Road, Tempe, AZ
- Market: Tempe, AZ
- Acres: 5.5
The buyer of this property is JLNI LLC, while the seller is BH Properties. The transaction was facilitated by Eric Wichterman, Mike Coover, Tracy Cartledge, and Bob Buckley from Cushman & Wakefield acting as brokers representing both parties involved in the deal.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$751,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,094.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,841.19
Annual Debt Service$802,094.32
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