Updated Jan 15, 2025
North City Enterprise LLC Acquires Industrial Building In San Marcos For $2.05M With Brokers Chris Baumgart And Chris Nelson
110 Venture Street
$2,050,000
$374/SF
Building Size
5,474 SF
Asset Type
Industrial
Closing
Jan 12, 2025
About this deal
AI
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.
On the Map
$2,050,000
$374/SF
Industrial
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Players
San Marcos Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93