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634 Moreno Avenue

Simon James Acquires Development Site On Moreno Avenue In Brentwood For $5.27M
SOLDDevelopment Site

Simon James Acquires Development Site On Moreno Avenue In Brentwood For $5.27M

634 Moreno Avenue

$5,271,000

Building Size

Asset Type

Development Site

Closing

Feb 28, 2023

AI

A development site located at 634 Moreno Avenue in Brentwood has been sold for a price of $5,271,000. The property is a development site, offering potential for future construction and expansion. The transaction was completed on 02/28/2023.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $5,271,000
  • Address: 634 Moreno Avenue
  • Market: Brentwood

The buyer in this transaction is Simon James, while the seller is the Stephen Gibson Trust. Representing both parties in the deal was Derrick J. Smith from Coldwell Banker.

Players

Derrick J. Smith

Coldwell Banker

Broker

$58.1M

vol

13 deals

Broker
T
TrustSeller

Market Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.01%

Cash-on-Cash

-0.86%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93