Thompson Thrift Retail Group Sells Retail Property In Peoria For $18.2M
SOLD
$18,200,000
Arizona
See Similar DealsRetail26,852 SF
Sold 10/19/2021
SOLD
Thompson Thrift Retail Group Sells Retail Property In Peoria For $18.2M
24645 North Lake Pleasant Parkway, Peoria, AZ 85383
See Similar DealsRetail26,852 SF
Sold 10/19/2021
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$677
Total Square Footage:26,852 SF
Transaction Type:Sale
Located at 24645 N Lake Pleasant Pkwy in Peoria, this retail property was recently sold. The property spans 26,852 square feet and was sold for a total price of $18,200,000, resulting in a price per square foot of $678. The sale took place on October 19, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,200,000
- Address: 24645 N Lake Pleasant Pkwy, Peoria
- Market: Peoria
The seller of this retail property was Thompson Thrift Retail Group, represented by Paul Thrift. The transaction showcases the success of the retail market in Peoria, highlighting the demand for properties in this area. The sale of this property demonstrates the continued growth and investment opportunities in the Peoria market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$970,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$64,660.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,277.29
Annual Debt Service$1,035,327.42
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