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Newmark Brokers Sell Retail Center In Apache Junction, AZ For $8M
SOLD
$8,000,000
Arizona
See Similar DealsRetail116,350 SF
Sold 02/07/2024
SOLD
Newmark Brokers Sell Retail Center In Apache Junction, AZ For $8M
10623 East Apache Trail
See Similar DealsRetail116,350 SF
Sold 02/07/2024
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$68
Total Square Footage:116,350 SF
Transaction Type:Sale
The Marketplace at Signal Butte is a 116,350-square-foot retail center located at 10623 East Apache Trail in Apache Junction, AZ. The property was recently sold for $8,000,000, equating to approximately $69 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 10623 East Apache Trail
- Market: Apache Junction, AZ
- Seller: Marketplace at Signal Butte SPE, LLC
- Brokers: Chase Dorsett, Jesse Goldsmith & Steve Julius - Newmark
Newmark's Chase Dorsett, Steve Julius, and Jesse Goldsmith were the key individuals representing Marketplace at Signal Butte SPE, LLC in this transaction, facilitating the sale of the retail center in Mesa, Arizona.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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