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Lee & Associates Sells 37,000 SF Industrial Building In Chatsworth For $10.7M
SOLD
$10,700,000
California
See Similar DealsIndustrial37,000 SF
Sold 07/23/2023
SOLD
Lee & Associates Sells 37,000 SF Industrial Building In Chatsworth For $10.7M
9223 Deering Avenue
See Similar DealsIndustrial37,000 SF
Sold 07/23/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$289
Total Square Footage:37,000 SF
Transaction Type:Sale
A $10.7 million industrial building in Chatsworth, California has recently been sold. The property, located at 9223 Deering Avenue, spans 37,000 square feet and is situated in a prime location in the Chatsworth market.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $10,700,000
- Square Footage: 37,000
- Price per Square Foot: $289
- Address: 9223 Deering Avenue
- Market: Chatsworth
The sale was facilitated by Scott Caswell and Erica Balin from Lee & Associates, who represented both the buyer and the seller in the transaction. The undisclosed buyer and the seller, Northwest Industrial Center, LLC, both benefited from the deal due to the high demand for industrial spaces in the area and the property's desirable location.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$570,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51
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