Faith Works Auto Acquires Retail Property On E Main St In Mesa, AZ For $1M
SOLD
$1,000,000
Arizona
See Similar DealsRetail
Sold 06/02/2022
SOLD
Faith Works Auto Acquires Retail Property On E Main St In Mesa, AZ For $1M
8027 East Main Street, Mesa, Arizona 85205, United States
See Similar DealsRetail
Sold 06/02/2022
Summary
ARIZONA
Asset Type:Retail
Transaction Type:Sale
Located at 8027 E Main St in Mesa, AZ, this retail property was recently sold in a closed transaction. The property, with an address attracting potential customers, offers an excellent opportunity for businesses in the area. The sale price for this retail asset was $1,000,000, reflecting its market value.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,000,000
- Buyer: Faith Works Auto
- Seller: Billy G Revocable Trust
- Buyer's Representative: Nick Miner - Orion Investment Real Estate
- Seller's Representative: Aleta Ruark of Russ Lyons Realty
Nick Miner, representing Faith Works Auto, negotiated this successful transaction with the seller's representative, Aleta Ruark. Both parties worked diligently to ensure a smooth closing for the purchase of this retail property in Mesa, AZ.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12
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