Brandon Michaels Group & Lonnie McDermott Acquire Development Site In Thousand Oaks For $37M
SOLD
$37,000,000
California
See Similar DealsDevelopment Site439,956 SF
Sold 03/25/2021
SOLD
Brandon Michaels Group & Lonnie McDermott Acquire Development Site In Thousand Oaks For $37M
339 Hampshire Road, Thousand Oaks, CA, USA
See Similar DealsDevelopment Site439,956 SF
Sold 03/25/2021
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$84
Total Square Footage:439,956 SF
Transaction Type:Sale
The development site located at 339 Hampshire Road in Thousand Oaks was recently sold for a total of $37,000,000. Spanning across 439,956 square feet, the property boasts a price per square foot of $84. This transaction took place on March 25, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $37,000,000
- Address: 339 Hampshire Road, Thousand Oaks
- Market: Thousand Oaks
The sale was facilitated by brokers Brandon Michaels from the Brandon Michaels Group and Lonnie McDermott from the McDermott Group. They played crucial roles in representing the parties involved in the transaction.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,973,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$131,453.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$175,398.88
Annual Debt Service$2,104,786.52
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