TTM Capital Acquires 16,000 SF Property On Holloway Drive For $11M
SOLD
$11,000,000
California
See Similar DealsDevelopment Site16,000 SF
Sold 11/18/2021
SOLD
TTM Capital Acquires 16,000 SF Property On Holloway Drive For $11M
8500 Holloway Drive, West Hollywood, CA 90069
See Similar DealsDevelopment Site16,000 SF
Sold 11/18/2021
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$687
Total Square Footage:16,000 SF
Transaction Type:Sale
The property located at 8500 Holloway Drive has been sold in a transaction. The buyer of the property is TTM Capital, represented by Tyler Mateen, while the seller is the Azria Family Trust. The sale price for the property was $11,000,000.
Summary of transation details
- Property Type: Sale
- Transaction Amount: $11,000,000
- Address: 8500 Holloway Drive
Tyler Mateen of TTM Capital acquired the property, and it spans over 16,000 square feet. The price per square foot for the property amounts to $685. It is worth noting that Mateen has plans to develop a high-end shopping center on the corner of Holloway and La Cienega, utilizing three adjacent lots near the sunset strip.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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