Updated Dec 19, 2023
Michael Hearn Acquires Industrial/Flex Property In Carlsbad From Martin Landis For $15.9M
3205 Lionshead Avenue, Carlsbad, California 92010, United States
$15,925,000
$332/SF
Building Size
47,850 SF
Asset Type
Industrial
Closing
Dec 16, 2021
About this deal
AI
Located at 3205 Lionshead Ave in Carlsbad, this industrial/flex property was recently sold in a closed transaction. The deal was brokered by Lee & Associates, with Chris Roth, Rusty Williams, and Jake Rubendall handling the negotiation process. The sale took place on December 16, 2021.
Summary of transaction details:
- Property Type: Industrial/Flex
- Sale Price: $15,925,000
- Square Footage: 47,850 sq ft
- Price per Square Foot: $332
- Address: 3205 Lionshead Ave
- Market: Carlsbad
Michael Hearn acted as the buyer in the transaction, while Martin Landis served as the seller. Lee & Associates represented both parties as the broker. The property offers a spacious 47,850 square feet of space, selling at a price of $15,925,000, or $332 per square foot. This successful transaction highlights the dynamic industrial/flex market in Carlsbad.
Players
Carlsbad 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
1.00%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93