Limited Partnership Purchases Safeway Grocery Store In Florence Arizona For $10.2M
3325 North Hunt Highway
$10,200,000
$176/SF
Building Size
57,860 SF
Asset Type
Retail
Closing
Oct 25, 2024
About this deal
AI
A limited partnership purchased a 57,860-square-foot retail property located at 3325 North Hunt Highway in Florence, AZ, for $10.2 million. The asset is situated on a 6.3-acre site and is net-leased to Safeway. Built in 2008, this property is located 60 miles southeast of Phoenix.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,200,000
- Square Footage: 57,860
- Price Per Square Foot: $176
- Address: 3325 North Hunt Highway, Florence, AZ
- Date of Sale: 10/25/2024
- Broker Representatives: Chris Lind, Mark Ruble, Scott Ruble & Zack House - Marcus & Millichap
The deal marks a significant transaction in the retail market, with notable involvement from the brokerage team at Marcus & Millichap, representing the interests of the purchasing limited partnership.
Players
Florence 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
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93