JPI Companies Acquires Development Site In San Gabriel Valley For $25.1M
SOLD
$25,100,000
California
See Similar DealsDevelopment Site254,500 SF
Sold 11/15/2021
SOLD
JPI Companies Acquires Development Site In San Gabriel Valley For $25.1M
225 West Duarte Road, Monrovia, California 91016, United States
See Similar DealsDevelopment Site254,500 SF
Sold 11/15/2021
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$98
Total Square Footage:254,500 SF
Transaction Type:Sale
A development site located at 225 West Duarte Road in the San Gabriel Valley was recently sold for $25,100,000. The property has a building square footage (BSF) of 254,500, resulting in a price per building square footage (PPBSF) of $98. The transaction took place on November 15, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $25,100,000
The buyer in this deal was JPI Companies, while the seller was Burke Investments, represented by Michael Burke and Daniel Burke. The brokers involved in the transaction were Sal Provenza and Curt Crandall from WD Land.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,338,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$89,174.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,986.81
Annual Debt Service$1,427,841.67
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