City Of Thousand Oaks Acquires 4.07 Acre Development Site On Erbes Road For $10M
SOLD
$10,000,000
California
See Similar DealsDevelopment Site1,772,892 SF
Sold
SOLD
City Of Thousand Oaks Acquires 4.07 Acre Development Site On Erbes Road For $10M
384 Erbes Road, Thousand Oaks, CA, USA
See Similar DealsDevelopment Site1,772,892 SF
Sold
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$5
Total Square Footage:1772892 SF
Transaction Type:Sale
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.
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Details
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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