Brandon Sparks Acquires Retail Property In Gilbert, Arizona For $5.3M
SOLD
$5,315,000
Arizona
See Similar DealsRetail12,190 SF
Sold 11/22/2021
SOLD
Brandon Sparks Acquires Retail Property In Gilbert, Arizona For $5.3M
2473 South Higley Road, Gilbert, AZ 85295
See Similar DealsRetail12,190 SF
Sold 11/22/2021
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$436
Total Square Footage:12,190 SF
Transaction Type:Sale
A retail property located at 2473 S Higley Road in Gilbert, Arizona, was recently sold for a total price of $5,315,000. The property spans a total area of 12,190 square feet, resulting in a price per square foot of $436. The sale took place on November 22, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,315,000
- Address: 2473 S Higley Road, Gilbert, Arizona
- Square footage: 12,190
- Price per square foot: $436
- Market: Gilbert, Arizona
The buyer of the property was Brandon Sparks, represented by BedTech. On the other hand, the seller of the property was Bruce Galloway, representing Higley Evergreen. The sale was facilitated by brokers Steve Julius, Jesse Goldsmith, and Chase Dorsett from Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$283,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,883.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,195.81
Annual Debt Service$302,349.74
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