Cavender's Purchases Retail Space At 4220 North Oracle Road Tucson For $3.7 Million
4220 North Oracle Road
$3,700,000
$248/SF
Building Size
14,875 SF
Asset Type
Retail
Closing
Jan 28, 2025
AI
A retail asset located at 4220 North Oracle Road in Tucson, AZ was sold for $3,700,000. The property encompasses 14,875 square feet, translating to a price per square foot of $249. This location features a former Walgreen’s situated in the Oracle Wetmore Shopping Center.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,700,000
- Sale Date: 01/28/2025
- Buyer: Cavender's
- Seller: Tucson Arizona Partners
- Buyer's Representative: Neil Board & Noah Anastassatos - Western Retail Advisors
- Seller's Representative: Aaron LaPrise - Cushman & Wakefield
- Market: Tucson, AZ
- Square Footage: 14,875
- Price Per Square Foot: $249
This transaction marks Cavender's first location in Tucson, indicating the brand's expansion into new markets. The deal involved key representatives from both sides, including Aaron LaPrise from Cushman & Wakefield, representing Tucson Arizona Partners, and Neil Board & Noah Anastassatos from Western Retail Advisors, acting on behalf of the buyer, Cavender's.
Players
Tucson 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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93