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Mark Dye & Eric Steven Ansel Acquire 2.57-Acre Parking Lot Near Chase Field In Phoenix For $17.3M
SOLD
$17,300,000
Arizona
See Similar DealsParking Lot
Sold 12/15/2023
SOLD
Mark Dye & Eric Steven Ansel Acquire 2.57-Acre Parking Lot Near Chase Field In Phoenix For $17.3M
520 South 5th Street
See Similar DealsParking Lot
Sold 12/15/2023
Summary
ARIZONA
Asset Type:Parking Lot
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$922,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$61,463.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,010.83
Annual Debt Service$984,129.91
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