Ten Tree Properties LLC Acquires Industrial Property In Desert Hot Springs For $7.76M
SOLD
$7,760,000
California
See Similar DealsIndustrial32,370 SF
Sold 07/29/2019
SOLD
Ten Tree Properties LLC Acquires Industrial Property In Desert Hot Springs For $7.76M
13310 Little Morongo Rd, Desert Hot Springs, CA, USA
See Similar DealsIndustrial32,370 SF
Sold 07/29/2019
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$239
Total Square Footage:32,370 SF
Transaction Type:Sale
An industrial property located at 13310 Little Morongo Rd in Desert Hot Springs has been sold in a recent transaction. The property, measuring 32,370 square feet, is a single tenant industrial condo situated in a secure cannabis cultivation/manufacturing business park. The sale was made by Little Morongo Partners LLC to Ten Tree Properties LLC for a total price of $7,760,000. The transaction took place on July 29, 2019.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,760,000
- Address: 13310 Little Morongo Rd, Desert Hot Springs
- Square Footage: 32,370 SF
- Market: Desert Hot Springs
Rose O'Sullivan from NAI Capital represented the seller, Little Morongo Partners LLC, while representing the buyer, Ten Tree Properties LLC. The transaction was facilitated through the expertise of Rose O'Sullivan from NAI Capital. The property was sold as an investment, with a long-term triple net lease already in place.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$413,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,569.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,786.36
Annual Debt Service$441,436.31
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