Tucson, Arizona – Local investors, Man Tran and Hao T. Nguyen, purchased the retail property located at 8250 East Broadway Boulevard in Tucson from Trinum Properties, LLC of Los-Angeles, California (Shawn Rita Abrahams, manager). The property commanded a sale price of $320,000 ($97 PSF).

The multi-tenant four-unit building consists of an approximately 3,306-square-foot building on approximately 7,500-square-feet of land.  It was fully leased at time of sale with two tenants, Retro Hair Studio and Mesquite Community Church, each occupying half of building.

Retro Hair Studio describes itself as a blue-collar salon that caters to the working class, offering quality work at a guilt free, affordable price.

The Nguyens have been converting their portfolio from multifamily to retail investments were attracted to the property for its tenants.

Frank Arrotta of Tucson Realty & Trust Co. represented both the seller and the investor in the transaction.

“Cap rates are higher on these smaller ‘mom & pop’ centers, running in the high 8% – 9% caps,” Arotta said. “The higher end net leased properties are getting around a 6% cap rate for investors. This property was on the market for awhile before we were able to match it with the right buyer.”

For more information, Arotta should be reached at 520.577.7000.

To learn more, see RED Comp #5963.

TUCSON, ARIZONA – Head Hunters Smoke Shop, LLC purchased the property located at 5830-5850 East Speedway Boulevard in Tucson, AZ for $275,000 ($20.74 PSF). The value-add property consists of an approximately 13,257-square-foot building on 34,407-square-feet of land.

Buyer was a tenant prior to sale and will continue to occupy a 4,500-square-feet space in the building. Two other tenants occupy 2,250-square-feet, Metro Tattoo and TD Show Club each in 1,125-square-feet. The remainder 6,507-square-feet with six spaces, was vacant for buyer to lease at undisclosed lease rates.

Frank Arrotta with Tucson Realty & Trust Co represented both buyer and seller, Trinum Properties, LLC.

In a separate transactions, Arotta also recently handled the sale of the former Driftwood Pub at 2001 S Craycroft Road in Tucson for $280,000 ($108 PSF).

Nick’s Enterprises, LLC purchased the property consisting of a 2,604-square-foot building on 23,866-square-feet of land from Craycroft Properties, LLC.

Built in 1958 the former landmark property, Driftwood Pub and Kitchen was a well-known neighborhood pub with pool and billiard hall.  The new owner is renovating the property to use for a Filipino grocery store and restaurant, dba Sari-Sari Store.

For more information, Arrotta should be reached at 520.577.7000

To learn more, see RED Comp #5031 and #4956 and to find more properties such as these, go to the Red Listing Registry.