Westridge Phoenix Acquires Retail Property In Phoenix, AZ For $6.8M
7540 West Indian School Road, Phoenix, Arizona 85033, United States
$6,800,000
$117,241/SF
Building Size
58 SF
Asset Type
Retail
Closing
Jul 12, 2022
AI
The retail property located at 7540 & 7606 W. Indian Road in Phoenix, AZ has been sold. The property spans across approximately 5.3 acres and was purchased by Westridge Phoenix from DPM Westridge Shopping Center. The transaction was facilitated by brokers Chris Hollenbeck and Shane Carter from the agency Cushman & Wakefield. The sale price for the property was $6,800,000. The total square footage of the property is 58,670, resulting in a price per square foot of $116.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,800,000
- Address: 7540 & 7606 W. Indian Road, Phoenix, AZ
- Market: Phoenix, AZ
- Acres: 5.3
- Buyer: Westridge Phoenix
- Seller: DPM Westridge Shopping Center
- Brokers: Chris Hollenbeck & Shane Carter - Cushman & Wakefield
- Square Footage: 58,670
- Price Per Square Foot: $116
The deal was completed with the assistance of brokers Chris Hollenbeck and Shane Carter from Cushman & Wakefield. They represented the buyer, Westridge Phoenix, and the seller, DPM Westridge Shopping Center, respectively. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.
Phoenix 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93