Alan Development, LLC Acquires Retail Property In Mesa, AZ For $9.7M From Seller Village Augusta SPE
SOLD
$9,700,000
Arizona
See Similar DealsRetail25,714 SF
Sold 10/05/2021
SOLD
Alan Development, LLC Acquires Retail Property In Mesa, AZ For $9.7M From Seller Village Augusta SPE
9221 E Baseline Rd, Mesa, AZ, USA
See Similar DealsRetail25,714 SF
Sold 10/05/2021
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$377
Total Square Footage:25,714 SF
Transaction Type:Sale
The retail property located at 9221 & 9303 E Baseline Rd in Mesa, AZ has been sold for a price of $9,700,000. The property spans across 25,714 square feet, resulting in a price per square foot of $377. The sale was completed on October 5, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,700,000
- Address: 9221 & 9303 E Baseline Rd, Mesa, AZ
- Market: Mesa, AZ
The buyer in this transaction was Alan Development, LLC. The seller was Village Augusta SPE. The deal was facilitated by Jesse Goldsmith, Steve Julius, and Chase Dorsett, who represented the parties involved in the transaction on behalf of Newmark.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
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