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Lehi Property Development LLC Acquires Development Site At 3231 Oceanside Boulevard For $18M

Property Image
SOLD
$18,000,000
Will Pike
Joe Cesta
+ 4

California

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Development Site
Sold 03/07/2025
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Property Image
SOLD

Lehi Property Development LLC Acquires Development Site At 3231 Oceanside Boulevard For $18M

3231 Oceanside Boulevard

See Similar Deals
Development Site
Sold 03/07/2025
Will Pike
Joe Cesta
+ 4
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale

The property asset involved in this transaction is a development site located at 3231 Oceanside Boulevard in the Oceanside market. The site was purchased for a total amount of $18,000,000.00.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,000,000.00
  • Address: 3231 Oceanside Boulevard
  • Market: Oceanside
  • Buyer: Lehi Property Development LLC
  • Brokers: Hunter Rowe (CBRE), Camille Doan (CBRE), Matthew (Matt) Carlson (CBRE), Will Pike (CBRE), Michael (Mike) Longo (CBRE), Barbara (Emmons) Perrier (CBRE), Joe Cesta (CBRE)

The deal was facilitated by a team of brokers from CBRE, highlighting their involvement in the transaction process. Hunter Rowe, Camille Doan, Matthew Carlson, Will Pike, Michael Longo, Barbara Perrier, and Joe Cesta all represented the parties in this transaction.

Players

Michael (Mike) Longo
31 deals$1.8B volume(310) 363-4906
BROKER

Barbara (Emmons) Perrier
CBRE
36 deals$1.8B volume(818) 481-2374
BROKER

Hunter Rowe
CBRE
18 deals$1.1B volume
BROKER

Joe Cesta
CBRE
13 deals$695.3M volume
BROKER

Will Pike
CBRE
7 deals$448.8M volume
BROKER

Matthew (Matt) Carlson
CBRE
15 deals$782.5M volume
BROKER

Camille Doan
CBRE
7 deals$458.3M volume(858) 353-1776
BROKER

Details

SOLD
IMAGE: Barbara Perrier, Camille Doan, Hunter Rowe, Joe Cesta, Matthew Carlson, Michael Longo & Will Pike DATE: 03/07/2025 ADDRESS: 3231 Oceanside Boulevard MARKET: Oceanside ASSET TYPE: Development Site ~ ACRES: 68.3 BUYER: Lehi Property Development LLC BROKERS: Barbara Perrier (@BarbPerrier), Camille Doan, Hunter Rowe, Joe Cesta, Matthew Carlson, Michael Longo & Will Pike (@Mrkktww) - CBRE (@CBRE) SALE PRICE: $18,000,000 NOTE: CBRE brokered the $18 million sale of a 68.3-acre site at 3231 Oceanside Blvd. in Oceanside to Lehi Property Development LLC. The buyer plans to redevelop the former nursery into a mixed-use community, pending rezoning.

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

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20