Marcus & Millichap Facilitates $2.3M Sale Of Ground Lease In Glendale, AZ
$2,300,000
$718/SF
Building Size
3,200 SF
Asset Type
Retail
Closing
Nov 2, 2023
About this deal
AI
A ground lease at SWC Loop 101 and Northern Avenue in Glendale, AZ has been sold for $2.3 million. The transaction was facilitated by Marcus & Millichap, with a limited liability company selling the asset to another limited liability company. The ground lease spans 3,200 square feet, resulting in a price per square foot of $719.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,300,000
- Address: SWC Loop 101 & Northen Avenue, Glendale, AZ
- Market: Glendale, AZ
Chris Lind, Mark Ruble, and Nick Christifulli from Marcus & Millichap were the brokers involved in this ground lease transaction.
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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93