Updated Dec 4, 2024
Mark Dye & Eric Steven Ansel Acquire 2.57-Acre Parking Lot Near Chase Field In Phoenix For $17.3M
520 South 5th Street
$17,300,000
Building Size
—
Asset Type
Parking Lot
Closing
Dec 15, 2023
About this deal
AI
Mark Dye and Eric Steven Ansel have acquired a 2.57-acre parking lot near the Diamondbacks' Chase Field in Downtown Phoenix for a total of $17.3 million. The property, located at 520 South 5th Street, was sold by Arthur Pearce. The transaction took place on December 15, 2023. The parking lot will continue to be used for its intended purpose.
Summary of transaction details
- Property Type: Parking Lot
- Transaction Amount: $17,300,000
- Address: 520 South 5th Street, Phoenix, AZ
- Market: Phoenix, AZ
- Buyer: Mark Dye & Eric Steven Ansel
- Seller: Arthur Pearce
- Broker: Jim Schaller - Schaller Real Estate
The purchase of the parking lot by Mark Dye and Eric Steven Ansel was facilitated by broker Jim Schaller from Schaller Real Estate.
Phoenix Parking Lot Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93