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2440 Grand, LLC Acquires 14,973 SF Industrial Building In Vista For $4.24M

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SOLD
$4,249,000

California

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Industrial14,973 SF
Sold 11/10/2023
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SOLD

2440 Grand, LLC Acquires 14,973 SF Industrial Building In Vista For $4.24M

2440 Grand Avenue

See Similar Deals
Industrial14,973 SF
Sold 11/10/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$283
Total Square Footage:14,973 SF
Transaction Type:Sale

2440 Grand, LLC has acquired a 14,973-square-foot industrial building located at 2440 Grand Avenue in Vista for $4.24 million. The property encompasses 2.09 acres and is situated in the Vista market. The sale price of $4.24 million translates to a price per square foot of $284.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $4,249,000
  • Square Footage: 14,973
  • Address: 2440 Grand Avenue
  • Market: Vista
  • Buyer: 2440 Grand, LLC
  • Seller: Spencer Industries, LLC
  • Buyer's Representative: Billy Long Real Estate Group
  • Seller's Representative: Chris Baumgart - JLL

The acquisition of the industrial building at 2440 Grand Avenue will allow 2440 Grand, LLC to expand its commercial kitchen business in support of local San Diego venues. The buyer was represented by Billy Long Real Estate Group, while the seller was represented by Chris Baumgart from JLL.

Players

Chris Baumgart
JLL
Chris Baumgart
8 deals$30.1M volume
BROKER

Details

SOLD
IMAGE: Chris Baumgart DATE: 11/10/2023 ADDRESS: 2440 Grand Avenue MARKET: Vista ASSET TYPE: Industrial ~ ACRES: 2.09 BUYER: 2440 Grand, LLC SELLER: Spencer Industries, LLC BUYER'S REP: Billy Long Real Estate Group (@BillyLongRealEstate) SELLER'S REP: Chris Baumgart - JLL (@JLL) SALE PRICE: $4,249,000 SF: 14,973 ~ PPSF: $284 NOTE: 2440 Grand, LLC acquired a 14,973-square-foot industrial building in Vista for $4.24 million. The property will expand the buyer's commercial kitchen business supporting local San Diego venues, with JLL representing the seller and Billy Long Real Estate Group representing the buyer.

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

$226,613.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,095.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,142.43
Annual Debt Service$241,709.13