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Simi Investment Properties Acquires Industrial Property In Santee, San Diego County For $5M

Property Image
SOLD
$5,000,000
Tai Kagehiro
Matt Harris
Matt Pourcho
+ 2

California

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Industrial20,030 SF
Sold 01/28/2021
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Property Image
SOLD

Simi Investment Properties Acquires Industrial Property In Santee, San Diego County For $5M

8520 Railroad Avenue, Santee, CA, USA

See Similar Deals
Industrial20,030 SF
Sold 01/28/2021
Tai Kagehiro
Matt Harris
Matt Pourcho
+ 2
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$249
Total Square Footage:20,030 SF
Transaction Type:Sale

The industrial property located at 8510-8520 Railroad Ave in Santee, San Diego County has been sold in a closed transaction. The property spans a total area of 20,030 square feet, with a sale price of $5,000,000, equating to a price per square foot of $249.62.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,000,000
  • Address: 8510-8520 Railroad Ave, Santee, San Diego County
  • Market: Santee, San Diego County

The buyer in this transaction is Simi Investment Properties, while the seller is Advantaged Asset Aquisitions. Representing the buyer is Elizabeth Clark from Compass and Tai Kagehiro, also from Compass. On the seller's side, the representatives are Matt Pourcho and Bryan Johnson from CBRE, along with Matt Harris.

Players

Bryan Johnson
CBRE
Bryan Johnson
49 deals$763.9M volume(949) 809-3762
BROKER
Matt Pourcho
CBRE
Matt Pourcho
48 deals$650.7M volume
BROKER
Tai Kagehiro
Compass
Tai Kagehiro
11 deals$43.8M volume
BROKER
Matt Harris
CBRE
Matt Harris
28 deals$349M volume
BROKER
Elizabeth Clark
Kidder Mathews
Elizabeth Clark
58 deals$181.6M volume(310) 740-7283
BROKER
Douglas Elliman
Douglas Elliman
BROKERAGE

Details

SOLD
IMAGE: Tai Kagehiro, Matt Harris, Bryan Johnson, Matt Pourcho & Elizabeth Clark DATE: 01/28/2021 ADDRESS: 8510-8520 Railroad Ave MARKET: Santee, San Diego County ASSET TYPE: Industrial BUYER: Simi Investment Properties SELLER: Advantaged Asset Aquisitions BUYER’S REP: Elizabeth Clark @ElizabethClark_CRE & Tai Kagehiro @Instaigram - Compass SELLER’S REP: Matt Pourcho @MPourcho, Bryan Johnson @CallMeBryanJ & Matt Harris - CBRE SALE PRICE: $5,000,000 SF: 20,030 ~ PPSF: $249.62

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61