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2440 Grand Avenue

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

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

2440 Grand Avenue

$4,249,000

$283/SF

Building Size

14,973 SF

Asset Type

Industrial

Closing

Nov 10, 2023

AI

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

Broker

$30.1M

vol

8 deals

Broker

Vista 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

3.73%

Cash-on-Cash

-1.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93