Colorado-based LLC Acquires Retail Property Leased To U.S. Bank In Gilbert Arizona For $3.2M
$3,200,000
$711/SF
Building Size
4,500 SF
Asset Type
Retail
Closing
Mar 18, 2025
About this deal
AI
A retail property located at N Higley Rd & E Michelle Way in Gilbert, Arizona, has been sold for $3,200,000. The asset encompasses a total space of 4,500 square feet, translating to a price per square foot of $711. The property is under a 10-year triple-net ground lease with U.S. Bank.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,200,000
- Sale Date: 03/18/2025
- Market: Gilbert, AZ
- Square Footage: 4,500
- Price Per Square Foot: $711
- Buyer: Colorado-based LLC
- Seller: Arizona-based LLC
- Seller’s Representatives: Mark Ruble, Chris Lind, Zack House - Marcus & Millichap
- Buyer’s Representative: Brennan Clegg - Marcus & Millichap
Marcus & Millichap facilitated the sale, showcasing the agency’s role in connecting both the buyer and seller through their respective representatives. The collaboration involved multiple brokers, highlighting the strategic efforts in managing the transaction process.
Players
Market 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93