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2908 North Naomi Street, Bu...

Matevosian Investment Group Procures Burbank Industrial Warehouse Deal For $1.45M
SOLDIndustrial

Matevosian Investment Group Procures Burbank Industrial Warehouse Deal For $1.45M

2908 North Naomi Street, Burbank, CA 91504

$1,450,000

$329/SF

Building Size

4,400 SF

Asset Type

Industrial

Closing

Jun 25, 2020

AI

A warehouse located at 2908 N. Naomi St. in Burbank has recently been sold for a price of $1,450,000. The industrial property spans across 4,400 square feet, resulting in a price per square foot of $329. This deal was facilitated by KW Commercial, who acted as the broker in the transaction.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $1,450,000
  • Date: 06/25/2021
  • Address: 2908 N. Naomi St.
  • Market: Burbank

Matevosian Investment Group was able to secure this warehouse deal at $329 per square foot in Burbank, at a time when similar properties are trading for $400-$500 per square foot. Their ability to source deals, leverage connections, and utilize resources has proven instrumental in securing exceptional deals for their clients. Matevosian Investment Group takes a proactive approach to finding deals, rather than waiting for opportunities to come their way.

Players

Alex Matevosian

MIG Commercial Real Estate Services

Broker

$12.6M

vol

8 deals

Broker
JohnHart Real Estate
JohnHart Real EstateBrokerage

Burbank Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.94%

Cash-on-Cash

-3.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93