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Paragon Commercial Group Acquires Development Site In Rialto For $4M

Property Image
SOLD
$4,000,000
Tai Kagehiro
Elizabeth Clark

California

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Development Site106,225 SF
Sold 12/07/2021
the dealplayerscompscontact
Property Image
SOLD

Paragon Commercial Group Acquires Development Site In Rialto For $4M

127 West Valley Boulevard, Rialto, CA, USA

See Similar Deals
Development Site106,225 SF
Sold 12/07/2021
Tai Kagehiro
Elizabeth Clark
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$37
Total Square Footage:106,225 SF
Transaction Type:Sale

A redevelopment project of a former Hometown Buffet located at 127 W Valley Blvd, Rialto, near the I-10 Freeway in the Inland Empire market, has been sold. The property is a development site with a building size of 106,225 square feet. The transaction took place on 12/07/2021.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,000,000
  • Address: 127 W Valley Blvd, Rialto, Inland Empire
  • Seller: Juanita Murphy & Roberta Boman
  • Buyer: Paragon Commercial Group
  • Brokers: Elizabeth Clark & Tai Kagehiro - Compass
  • Market: Rialto, Inland Empire

The property received multiple offers within the first week of being listed on the market. It was eventually sold at its list price of $4,000,000, with backup offers over asking price. This transaction was facilitated by brokers Elizabeth Clark and Tai Kagehiro from Compass.

Players

Tai Kagehiro
Compass
Tai Kagehiro
11 deals$43.8M volume
BROKER
Elizabeth Clark
Kidder Mathews
Elizabeth Clark
58 deals$181.6M volume(310) 740-7283
BROKER
Douglas Elliman
Douglas Elliman
BROKERAGE
PG
Paragon Commercial Group
BUYER

Details

SOLD
IMAGE: Elizabeth Clark & Tai Kagehiro DATE: 12/07/2021 ADDRESS: 127 W Valley Blvd MARKET: Rialto, Inland Empire ASSET TYPE: Development Site BUYER: Paragon Commercial Group SELLERS: Juanita Murphy & Roberta Boman BROKERS: Elizabeth Clark (@ElizabethClarkCre) & Tai Kagehiro (@Instaigram) - Compass SALE PRICE: $4,000,000 BSF: 106,225 ~ PPSF: $38 NOTE: Redevelopment project of a former Hometown Buffet at the corner of Valley Blvd and Riverside Ave in Rialto near the I-10 Freeway. Received multiple offers within the first week of hitting the market. Sold at list price with backup offers over asking.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
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