Providence Health System Acquires Mission Hills Development Site For $2.85M
SOLD
$2,850,000
California
See Similar DealsDevelopment Site89,569 SF
Sold 12/04/2018
SOLD
Providence Health System Acquires Mission Hills Development Site For $2.85M
15001 Mission Hills Road, Mission Hills, CA 91345, USA
See Similar DealsDevelopment Site89,569 SF
Sold 12/04/2018
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$31
Total Square Footage:89,569 SF
Transaction Type:Sale
A development site in Mission Hills, located at 15001 Mission Hills Road, has been sold for $2.85 million. The property spans 89,735 square feet and has a price per buildable square foot (PPBSF) of $31.76. The transaction took place on December 4, 2018.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2.85 million
- Address: 15001 Mission Hills Road
- Market: Mission Hills
- BSF: 89,735
- PPBSF: $31.76
The buyer of the development site is Providence Health System-Southern California, while the seller is The TD a& CP Germann Trust. The transaction was facilitated by Corey Spound and David Kaufman from Tamarack Commercial, who represented both the buyer and seller in the deal.
Note: Tamarack RE Services represented both the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$151,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45
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