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North Creek LLC Acquires Retail Property From Michael H. Mugel In Phoenix For $1.6M
SOLD
$1,600,000
Arizona
See Similar DealsRetail11,174 SF
Sold 03/05/2024
SOLD
North Creek LLC Acquires Retail Property From Michael H. Mugel In Phoenix For $1.6M
12831 North Cave Creek Road & 12839 North Cave Creek Road
See Similar DealsRetail11,174 SF
Sold 03/05/2024
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$143
Total Square Footage:11,174 SF
Transaction Type:Sale
The retail property located at 12831-12839 North Cave Creek Road in Phoenix, AZ, was sold for $1.6 million. The asset spans 5,587 square feet and was fully occupied by four tenants at the time of the transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,600,000
- Buyer: North Creek LLC
- Seller: Michael H. Mugel - Red Mountain Group
- Broker: Jonathan Selznick - Lee & Associates
- SF: 5,587
- Price per Square Foot: $286
- Address: 12831-12839 North Cave Creek Road, Phoenix, AZ
- Market: Phoenix, AZ
The sale of the shopping center was facilitated by Jonathan Selznick of Lee & Associates, representing the seller, Red Mountain Group based in Orange County, California.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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