Black Lion Investment Group Sells Tucson Retail Property For $4.75M
SOLD
$4,750,000
Arizona
See Similar DealsRetail8,000 SF
Sold 05/21/2020
SOLD
Black Lion Investment Group Sells Tucson Retail Property For $4.75M
4380 N Oracle Rd, Tucson, AZ, USA
See Similar DealsRetail8,000 SF
Sold 05/21/2020
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$593
Total Square Footage:8,000 SF
Transaction Type:Sale
Black Lion Investment Group has recently closed the sale of a retail property in Tucson, AZ. The property, located at 4380 N Oracle Rd, was sold for a record-setting price of $4,750,000. The asset spans over 5,856 square feet, resulting in a price per square foot of $811. This freestanding Jared pad was acquired by an undisclosed buyer.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,750,000
- Address: 4380 N Oracle Rd
- Market: Tucson
Chris Hollenbeck from Cushman & Wakefield represented Black Lion Investment Group in this successful transaction. Furthermore, it is worth noting that this sale follows another recent achievement by Black Lion Investment Group, with the sale of the Bellflower property in Los Angeles for $7,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$253,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08
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