Brandon Sparks Acquires Retail Property In Gilbert, Arizona For $5.3M
2473 South Higley Road, Gilbert, AZ 85295
$5,315,000
$436/SF
Building Size
12,190 SF
Asset Type
Retail
Closing
Nov 22, 2021
AI
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.
Players
Gilbert Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.98%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93