Private SoCal 1031-Exchange Buyer Acquires Retail Condo In Moorpark For $4.12M
SOLD
$4,125,000
+ 2
California
See Similar DealsMixed-use7,261 SF
Sold 10/23/2019
SOLD
Private SoCal 1031-Exchange Buyer Acquires Retail Condo In Moorpark For $4.12M
555-561 New Los Angeles Ave, Moorpark, CA, USA
See Similar DealsMixed-use7,261 SF
Sold 10/23/2019
+ 2
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$568
Total Square Footage:7,261 SF
Transaction Type:Sale
A retail condo located at 555-561 New Los Angeles Ave in Moorpark has been sold for a price of $4,125,000. The property is part of a neighborhood center anchored by Starbucks and it is fully occupied with long-term anchor tenants including Starbucks and Sprint. Situated along a major retail corridor in the city of Moorpark, the property benefits from a high daily traffic count of 33,000.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $4,125,000
- Date: 10/23/2019
- Market: Moorpark
- BROKERS: Alex Kozakov, Patrick Wade, Matthew Greenberg, Jonathan Farasat, Alexis Abad
The transaction involved a private SoCal 1031-Exchange buyer and had a 66-day escrow period. The property is located in a well-established retail corridor and benefits from the presence of popular anchor tenants. The deal was facilitated by brokers Alex Kozakov, Patrick Wade, Matthew Greenberg, Jonathan Farasat, and Alexis Abad.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$220,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,655.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,554.60
Annual Debt Service$234,655.25
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