Dornin Investment Group Sells Industrial Property In Laguna Beach For $22M
SOLD
$22,000,000
California
See Similar DealsIndustrial30,000 SF
Sold 05/19/2022
SOLD
Dornin Investment Group Sells Industrial Property In Laguna Beach For $22M
2133 Laguna Canyon Road, Laguna Beach, California 92651, United States
See Similar DealsIndustrial30,000 SF
Sold 05/19/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$733
Total Square Footage:30,000 SF
Transaction Type:Sale
2133-2147 & 2171-2183 Laguna Canyon Road in Laguna Beach, California, was recently sold for $22,000,000. This industrial property spans approximately 30,000 square feet, resulting in a price per square foot of $733. The sale took place on May 19, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $22,000,000
- Square Footage: 30,000
- Price Per Square Foot: $733
- Market: Laguna Beach
- Seller: Dornin Investment Group
- Brokers: Anthony DeLorenzo, Sammy Cemo & Bryan Johnson
The seller of the property was Dornin Investment Group. The transaction was facilitated by brokers Anthony DeLorenzo, Sammy Cemo, and Bryan Johnson.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69
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