Eli Zhou And Michael Smith Of Sunnyvale Properties Acquire Retail Asset From Simon CRE And Robert Brown For $2.84M
SOLD
$2,836,363
Arizona
See Similar DealsRetail
Sold 05/22/2024
SOLD
Eli Zhou And Michael Smith Of Sunnyvale Properties Acquire Retail Asset From Simon CRE And Robert Brown For $2.84M
1054 E Southern Ave
See Similar DealsRetail
Sold 05/22/2024
Summary
ARIZONA
Asset Type:Retail
Transaction Type:Sale
The asset involved in the transaction is a retail property located at 1054 E Southern Ave. The sale was finalized on May 22, 2024, with a transaction amount of $2,836,363.00.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $2,836,363.00
- Buyer: Eli Zhou and Michael Smith from Sunnyvale Properties
- Seller: Simon CRE and Robert Brown from Downtown Developments
- Brokers: Jeffrey Estrada and Neema Ahadian from Marcus & Millichap
This transaction involved key participants including Eli Zhou and Michael Smith, who represented the buyer, Sunnyvale Properties. The sellers were Simon CRE and Robert Brown, associated with Downtown Developments. Jeffrey Estrada and Neema Ahadian facilitated the deal as the brokers from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$151,272.70
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,076.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,445.81
Annual Debt Service$161,349.69
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