Jamison Properties Acquires Development Site On Olympic Corridor For $16M
SOLD
$16,000,000
California
See Similar DealsDevelopment Site28,358 SF
Sold 06/18/2019
SOLD
Jamison Properties Acquires Development Site On Olympic Corridor For $16M
11600 Santa Monica Boulevard, Los Angeles, CA, USA
See Similar DealsDevelopment Site28,358 SF
Sold 06/18/2019
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$564
Total Square Footage:28,358 SF
Transaction Type:Sale
A development site located at 11600 Santa Monica Blvd in the Olympic Corridor of Los Angeles has recently been sold for a total of $16,000,000. The property spans across 28,358 square feet, resulting in a price per square foot of $564.21.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $16,000,000
- Address: 11600 Santa Monica Blvd
- Market: Olympic Corridor
- Square Footage: 28,358
- Price per Square Foot: $564.21
The buyer in this transaction was Jamison Properties, while The Shanfeld Group, Inc acted as the seller. The deal was facilitated by Laurie Lustig-Bower from an undisclosed agency.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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