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North City Enterprise LLC Acquires Industrial Building In San Marcos For $2.05M With Brokers Chris Baumgart And Chris Nelson
SOLD
$2,050,000
California
See Similar DealsIndustrial5,474 SF
Sold 01/12/2025
SOLD
North City Enterprise LLC Acquires Industrial Building In San Marcos For $2.05M With Brokers Chris Baumgart And Chris Nelson
110 Venture Street
See Similar DealsIndustrial5,474 SF
Sold 01/12/2025
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$374
Total Square Footage:5,474 SF
Transaction Type:Sale
An industrial building located at 110 Venture Street in San Marcos was sold for $2.05 million. The property spans 5,474 square feet, reflecting a price per square foot of $374. This transaction highlights the value of industrial assets in the area.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,050,000
- Square Footage: 5,474
- Price Per Square Foot: $374
- Buyer: North City Enterprise, LLC
- Buyer's Representative: Chris Baumgart - JLL
- Seller's Representative: Chris Nelson - Matthews Real Estate Investment Services
- Market: San Marcos
- Vacancy Rate: 6%
Chris Baumgart from JLL represented North City Enterprise, LLC in the acquisition, while Chris Nelson from Matthews Real Estate Investment Services represented the seller in this deal. The transaction underscores the significant demand for owner-occupied industrial properties in North San Diego County.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$109,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,283.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,718.05
Annual Debt Service$116,616.55
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