WestPro Plumbing Acquires Mixed-Use Asset In National City For $1.6M
712 E 18th St, National City, CA, 91950
$1,600,000
$258/SF
Building Size
6,200 SF
Asset Type
Mixed-use
Closing
Nov 22, 2023
AI
The retail and warehouse property located at 712 E 18th St, National City, CA, 91950 has been sold in a transaction where WestPro Plumbing acquired the asset from Gary R Kitagawa Family Trust for $1.6 million. The building spans 6,200 square feet and sits on a 13,500 square foot parcel. Built in 1986, the property boasts 15-foot roll-up doors, 14 parking spaces, and a fenced loading and storage area.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $1,600,000.00
- Market: National City
- Buyer: WestPro Plumbing
- Seller: Gary R Kitagawa Family Trust
- Buyer's Representative: Ronald (Ron) Bement (Newmark)
- Seller's Representative: Will Holder (Colliers International)
- SF: 6200
Chris Holder, Will Holder, and Mark Lewkowitz of Colliers represented the seller, while Ron Bement of Newmark Knight Frank represented the buyer in the transaction for the retail and warehouse property in National City. The deal was successfully facilitated between the parties involved in acquiring and selling the property.
Players
National City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93