Faris Lee Investments Acquires Redevelopment Site In Fountain Valley For $17.5M
SOLD
$17,500,000
California
See Similar DealsDevelopment Site217,800 SF
Sold 04/30/2021
SOLD
Faris Lee Investments Acquires Redevelopment Site In Fountain Valley For $17.5M
17025 Brookhurst Street, Fountain Valley, CA, USA
See Similar DealsDevelopment Site217,800 SF
Sold 04/30/2021
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$80
Total Square Footage:217,800 SF
Transaction Type:Sale
A redevelopment site located at 17025 Brookhurst St in Fountain Valley has been sold for $17,500,000. The property spans 217,800 square feet, resulting in a price per square foot of $80.
Summary of transaction details
- Property Type: Redevelopment site
- Transaction Amount: $17,500,000
- Address: 17025 Brookhurst St
- Market: Fountain Valley
The sale was facilitated by Rick Chichester, Tom Chichester, and Nick D’Argenzio of Faris Lee Investments.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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