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Arizona MSK LLC & Garvin Holdings LLC Acquire Retail Property In Los Lunas, NM For $7.5M

Property Image
SOLD
$7,500,000
Steve Julius
Jesse Goldsmith
+ 1

New Mexico

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Retail51,892 SF
Sold 09/15/2022
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Property Image
SOLD

Arizona MSK LLC & Garvin Holdings LLC Acquire Retail Property In Los Lunas, NM For $7.5M

2520 Main Street, Los Lunas, New Mexico 87031, United States

See Similar Deals
Retail51,892 SF
Sold 09/15/2022
Steve Julius
Jesse Goldsmith
+ 1
Contact now

Summary

NEW MEXICO
Asset Type:Retail
Price Per Square Foot:$144
Total Square Footage:51,892 SF
Transaction Type:Sale

The retail property located at 2150-2520 Main St NE in Los Lunas, NM has been sold in a recent transaction. The property spans a total area of 51,892 square feet and was sold for a price of $7,500,000, resulting in a price per square foot of $145. The sale was finalized on September 15, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $7,500,000
  • Address: 2150-2520 Main St NE, Los Lunas, NM
  • Market: Los Lunas, NM

The buyer in this transaction was Arizona MSK LLC and Garvin Holdings LLC, while Hawkins Cos acted as the seller. The deal was facilitated by the following brokers: Steve Julius, Jesse Goldsmith, and Chase Dorsett from Newmark, and Perry Kesler from Sotheby Realty.

Players

Jesse Goldsmith
11 deals$127.4M volume
BROKER

Steve Julius
Newmark
13 deals$178.9M volume
BROKER

Chase Dorsett
Newmark
13 deals$136.4M volume
BROKER

Perry Kesler
Sotheby's International Realty
2 deals$15M volume
BROKER

BUYER

Details

SOLD
IMAGE: Jesse Goldsmith, Steve Julius & Chase Dorsett DATE: 09/15/2022 ADDRESS: 2150-2520 Main St NE MARKET: Los Lunas, NM ASSET TYPE: Retail BUYER: Arizona MSK LLC & Garvin Holdings LLC SELLER: Hawkins Cos BROKERS: Steve Julius, Jesse Goldsmith & Chase Dorsett - Newmark & Perry Kesler - Sotheby Realty SALE PRICE: $7,500,000 SF: 51,892 ~ PPSF: $145

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$400,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92