Allard Developments Acquires Retail Property In Phoenix, AZ For $41.6M
SOLD
$41,600,000
Arizona
See Similar DealsRetail154,436 SF
Sold 12/14/2021
SOLD
Allard Developments Acquires Retail Property In Phoenix, AZ For $41.6M
3131 East Indian School Road, Phoenix, AZ 85016
See Similar DealsRetail154,436 SF
Sold 12/14/2021
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$269
Total Square Footage:154,436 SF
Transaction Type:Sale
3131 East Indian School Road, a retail property located in Phoenix, AZ, has been sold in a recent transaction. The property, totaling 154,436 square feet, was sold for a price of $41,600,000, resulting in a price per square foot of $269. The transaction took place on 12/14/2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $41,600,000
- Buyer: Allard Developments
- Seller: DeRito Partners & Van Tuyl Cos.
- Brokers: Michael Hackett & Ryan Schubert - Cushman & Wakefield
The buyer in this transaction was Allard Developments, while the sellers were DeRito Partners & Van Tuyl Cos. The deal was facilitated by brokers Michael Hackett and Ryan Schubert of Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,218,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$147,796.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$197,205.22
Annual Debt Service$2,366,462.68
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