SOLDDevelopment Site
City Of Thousand Oaks Acquires 4.07 Acre Development Site On Erbes Road For $10M
384 Erbes Road, Thousand Oaks, CA, USA
$10,000,000
$5/SF
Building Size
1,772,892 SF
Asset Type
Development Site
Closing
Nov 10, 2021
AI
The City of Thousand Oaks has acquired a development site located at 384 Erbes Road in the Conejo Valley area. The property spans approximately 4.07 acres.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Date: 11/10/2021
- Address: 384 Erbes Road
- Market: Conejo Valley
- Buyer: City of Thousand Oaks
- Seller: Hillcrest Christian Center of Thousand Oaks
- Brokers: Jared Smits & Mike Tingus - Lee & Associates
The transaction was facilitated by brokers Jared Smits and Mike Tingus from Lee & Associates.
Players
Thousand Oaks Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93