Frank Cid Purchases Industrial Property In Lancaster For $3.1M
44211 Yucca Avenue
$3,105,000
$147/SF
Building Size
21,040 SF
Asset Type
Industrial
Closing
May 10, 2024
AI
A 21,040 square foot cultivation facility located at 44211 Yucca Avenue in Lancaster, California, was successfully sold for $3,105,000. The property was purchased by Frank Cid from the seller, Leo Polosajian. The deal was facilitated by brokers Josh Markowitz of Markowitz Commercial Real Estate and Jamie Warm of Berkshire Hathaway Home Services.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,105,000
- Address: 44211 Yucca Avenue
- Market: Lancaster
- Square Footage: 21,040
- Price per Square Foot: $148
- Buyer: Frank Cid
- Seller: Leo Polosajian
- Brokers: Josh Markowitz - Markowitz Commercial Real Estate; Jamie Warm - Berkshire Hathaway Home Services
Josh Markowitz of Markowitz Commercial Real Estate and Jamie Warm of Berkshire Hathaway Home Services played instrumental roles in negotiating the sale of the cultivation facility and the business onsite. The business was also successfully sold in a separate transaction as part of this deal.
Players
Lancaster 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
5.11%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93