Gevorkian Academy Acquires Industrial Property In Burbank For $4.6M
SOLD
$4,600,000
California
See Similar DealsIndustrial18,502 SF
Sold 03/26/2024
SOLD
Gevorkian Academy Acquires Industrial Property In Burbank For $4.6M
58 Santa Anita Avenue & 68 Santa Anita Avenue
See Similar DealsIndustrial18,502 SF
Sold 03/26/2024
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$248
Total Square Footage:18,502 SF
Transaction Type:Sale
The industrial property located at 58-68 East Santa Anita Avenue in Burbank was sold for $4,600,000. The property spans 9,251 square feet, resulting in a price per square foot of $497. The transaction took place on March 26, 2024. The seller's representatives for this deal were Mike Zugsmith and Sam Glendon from CBRE.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,600,000
- Address: 58-68 East Santa Anita Avenue
- Market: Burbank
- Square Footage: 9,251
- Buyer: Gevorkian Academy
- Seller's Rep: Mike Zugsmith & Sam Glendon - CBRE
Mike Zugsmith and Sam Glendon from CBRE facilitated the sale between the buyer, Gevorkian Academy, and the seller in this industrial property transaction. The buyer acquired this property in Burbank, adding to their real estate portfolio in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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