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6161 East 22nd Street

God's Vast Resources Acquires Retail Space In Tucson From Valley National Bank For $1.1M
SOLDRetail

God's Vast Resources Acquires Retail Space In Tucson From Valley National Bank For $1.1M

6161 East 22nd Street

$1,100,000

$155/SF

Building Size

7,089 SF

Asset Type

Retail

Closing

Jan 8, 2024

AI

God’s Vast Resources has acquired a 7,089-square-foot retail space located at 6161 East 22nd Street in Tucson, Arizona. The property was purchased from Valley National Bank of Arizona for a total of $1.1 million.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $1,100,000
  • Square Footage: 7,089
  • Price Per Square Foot: $155
  • Address: 6161 East 22nd Street, Tucson, AZ
  • Market: Tucson, AZ

David Montijo from CBRE represented God’s Vast Resources as the buyer's representative in this transaction. On the other hand, Dave Hammack from Cushman & Wakefield acted as the seller's representative representing Valley National Bank of Arizona.

Players

Dave Hammack

Cushman & Wakefield

Broker

$3.5M

vol

2 deals

Broker
Valley National Bank
Valley National BankSeller
Valley National Bank
Valley National BankLender

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

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93