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Homa Bolour - Michel Bolour Acquires Industrial Property In Moorpark For $13.7M

Property Image
SOLD
$13,700,000
Grant Fulkerson

California

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Industrial45,916 SF
Sold 09/15/2023
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Property Image
SOLD

Homa Bolour - Michel Bolour Acquires Industrial Property In Moorpark For $13.7M

14399 Princeton Avenue

See Similar Deals
Industrial45,916 SF
Sold 09/15/2023
Grant Fulkerson
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$298
Total Square Footage:45,916 SF
Transaction Type:Sale

The industrial property located at 14399 Princeton Avenue in Moorpark has been sold in a recent transaction. The property spans 45,916 square feet and was listed with an asking price of $15,000,000. The sale was finalized at a price of $13,700,000, resulting in a price per square foot of $298.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $13,700,000
  • Address: 14399 Princeton Avenue
  • Market: Moorpark
  • Square Footage: 45,916
  • Asking Price: $15,000,000
  • Price per Square Foot: $298

The industrial property was purchased by Homa Bolour and Michel Bolour from Steve Sanett. The deal was facilitated by brokers Grant Fulkerson and Brett Saunders from Lee & Associates.

Players

Grant Fulkerson
26 deals$346.5M volume(818) 304-4956
BROKER

Brett Saunders
3 deals$29.2M volume
BROKER

Details

SOLD
IMAGE: Grant Fulkerson & Brett Saunders DATE: 09/15/2023 ADDRESS: 14399 Princeton Avenue MARKET: Moorpark ASSET TYPE: Industrial BUYER: Homa Bolour - Michel Bolour SELLER: Steve Sanett BROKERS: Grant Fulkerson (@GrantFulkerson) & Brett Saunders - Lee & Associates (@leeassociatesre) ASKING PRICE: $15,000,000 SALE PRICE: $13,700,000 SF: 45,916 ~ PPSF: $298

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$730,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$48,673.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,944.99
Annual Debt Service$779,339.87