Simo Gates Of SIMO Property Group Acquires Industrial Asset In Adelanto For $5.08M
SOLD
$5,080,000
California
See Similar DealsIndustrial29,925 SF
Sold 07/09/2025
SOLD
Simo Gates Of SIMO Property Group Acquires Industrial Asset In Adelanto For $5.08M
9841 Bartlett Avenue
See Similar DealsIndustrial29,925 SF
Sold 07/09/2025
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$169
Total Square Footage:29,925 SF
Transaction Type:Sale
The property asset involved in this transaction is an industrial asset located at 9841 Bartlett Avenue in the Adelanto market. The sale price for this property was $5,080,000, and it encompasses a total square footage of 29,925 with a price per square foot of $169.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,080,000
- Address: 9841 Bartlett Avenue
- Market: Adelanto
- Total Square Footage: 29,925
- Price Per Square Foot: $169
- Buyer: Simo Gates - SIMO Property Group
- Seller: HS19 - Rich Munkvold
- Broker: Sash Sepehran - Sunset Equity
The key individuals involved in this transaction include Simo Gates representing the buyer's interests through SIMO Property Group, and Rich Munkvold representing HS19 as the seller. The deal was facilitated by broker Sash Sepehran from Sunset Equity, who played a pivotal role in coordinating the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$270,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,048.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,081.79
Annual Debt Service$288,981.50
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