Updated Dec 4, 2024
MagnaFlow Exhaust Acquires 53,116-Square-Foot Tesla Dealership In Riverside For $21M
7920 Lindbergh Drive
$21,000,000
$395/SF
Building Size
53,116 SF
Asset Type
Industrial
Closing
Oct 27, 2023
About this deal
AI
MagnaFlow Exhaust has acquired a 53,116-square-foot Tesla dealership in Riverside for $21 million. The property, located at 7920 Lindbergh Drive, includes Tesla's lease that runs until April 2033, with two potential five-year extensions. The purchase price per square foot is $395.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $21,000,000
- Square Footage: 53,116
- Address: 7920 Lindbergh Drive
- Market: Riverside
The buyer in this transaction is MagnaFlow Exhaust, represented by Jerry Paolone. The seller is Chris Hyun.
MagnaFlow Exhaust's future plans for the site are currently unknown.
Players
Lindbergh 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93