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320 North Milpas Street

David Back Purchases Mixed-Use Property At 320 North Milpas Street From Constantino Frangos For $1.9M
SOLDMixed-use

David Back Purchases Mixed-Use Property At 320 North Milpas Street From Constantino Frangos For $1.9M

320 North Milpas Street

$1,900,000

$431/SF

Building Size

4,400 SF

Asset Type

Mixed-use

Closing

Nov 20, 2024

AI

The property involved in this transaction is a mixed-use asset located at 320 North Milpas Street in the Santa Barbara market. The sale was completed at a price of $1,900,000 for a total square footage of 4,400, resulting in a price per square foot of $431.

Summary of transation details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,900,000
  • Address: 320 North Milpas Street
  • Market: Santa Barbara
  • Square Footage: 4,400
  • Price per Square Foot: $431
  • Buyer: David Back
  • Seller: Constantino Frangos
  • Brokers: Andrew Leff & Mark Cianciulli - The CREM Group

Key individuals in this transaction include the buyer David Back and the seller Constantino Frangos. The transaction was facilitated by the brokerage team of Andrew Leff and Mark Cianciulli, who represented the seller in the deal.

Players

Andrew Leff

The CREM Group

Broker

$100.9M

vol

27 deals

Broker

Santa Barbara 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

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93