United Growth Acquires Temecula Property From Vail Commercial For $19.7M With Brokers Matt Brooks And Joe Chichester
SOLD
$19,700,000
California
See Similar DealsOther70,418 SF
SOLD
United Growth Acquires Temecula Property From Vail Commercial For $19.7M With Brokers Matt Brooks And Joe Chichester
32881 Temecula Pkwy, Temecula, CA 92592, USA
See Similar DealsOther70,418 SF
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$279
Total Square Footage:70,418 SF
Transaction Type:Sale
A value-add shopping center located at 32881-32965 Temecula Parkway in Temecula has been sold. The property features a total square footage of 70,418 and is situated on 7.6 acres. The sale price was $19,700,000. Tenants at the shopping center include Best Buy and Fitness 19.
Summary of transaction details:
- Property Type: Shopping Center
- Transaction Amount: $19,700,000
- Address: 32881 Temecula Pkwy, Temecula, CA
- Market: Temecula
- Buyer: United Growth
- Seller: Vail Commercial
- Buyer's Representatives: Matt Brooks and Joe Chichester - Faris Lee Investments
Faris Lee Investments facilitated the transaction, with Joe Chichester and Matt Brooks serving as the representatives for the buyer, United Growth. The sale reflects a strategic acquisition within the Temecula market.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,050,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,989.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$93,388.05
Annual Debt Service$1,120,656.61
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