Private Orange County Investor Acquires 34,015 SF San Diego Miramar Auto Center For $9.9M
6690 Miramar Rd San Diego, CA 92121, USA
$9,910,000
$291/SF
Building Size
34,015 SF
Asset Type
Industrial
Closing
May 16, 2023
AI
A 34,000-square-foot Miramar Auto Center in San Diego has been sold for $9.9 million to a private Orange County investor. The auto center was constructed in 2007 as a high-end automotive sales and service facility and sits on a 2.32-acre lot in the Kearny Mesa neighborhood. The property is fully leased to multiple auto dealerships, including one of the largest Mercedes dealerships in California.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $9,910,000
- Address: 6690-6696 Miramar Road
- Market: San Diego
- Acres: 2.04
The sale of the Miramar Auto Center was facilitated by Evan McDonald and Garret Epple from Colliers.
Players
Los Angeles 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
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93