TUCSON, Arizona -- Oakmark Properties of Scottsdale purchased the property at 6780 N Oracle Road in Tucson from Thomas and Ines Leonard of Tubac for $850,000 ($258 PSF). The investor is an experienced restaurant investor that owns approximately 25 leased properties.
The property is leased to the popular Hi Falutin Rapid Fire Western Grill Restaurant and sold at a high cap rate.
Glen Fotre of Triple Net Investment in Tucson handled the transaction and can be reached for more information at 520.403.7717.
To learn more, login and see RED Comp #4461.
[mepr-show rules="58038"]This sale closed on 1/4/2017. Sellers are elderly and was about to be foreclosed on when property sold. Fotre sold the property within 60 days at a 9.4% cap rate.[/mepr-show]
Window World Gets New Home
Window World of Tucson, LLC, purchased the retail building at 4912 East 22nd Street, Tucson for $399,000 ($94 PSF) to owner occupy it and plans to relocate from its Broadway location.
The property consists of an approximately 4,261-square-foot building on 27,202 square feet of land, built in 1973. It was formerly occupied by E-Konomy Pool that moved its new Speedway location.
Frank Arrotta of Tucson Realty & Trust Co. represented the buyer. Gary Best, CCIM, and John Hammer of Keller Williams in Tucson represented the seller, DeCook Properties LLC, in the transaction.
For more information, Arrotta can be contacted at 520.577.7000 and Hamner at 520.907.0030. Best can be reached at 520.444.0799.
To learn more, login and see RED Comp #4462.
[mepr-show rules="58038"]Property closed 1/3/2017. APN #131-01-031 zoned C-2[/mepr-show]