Matthews Real Estate Investment Services Acquires Car Dealership On Wilshire Blvd In Beverly Hills For $70M
SOLD
$70,000,000
California
See Similar DealsOther339,000 SF
Sold 08/19/2019
SOLD
Matthews Real Estate Investment Services Acquires Car Dealership On Wilshire Blvd In Beverly Hills For $70M
5071 Wilshire Boulevard, Beverly Hills, CA, USA
See Similar DealsOther339,000 SF
Sold 08/19/2019
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$206
Total Square Footage:339,000 SF
Transaction Type:Sale
An car dealership located at 5070 and 5071 Wilshire Blvd in Beverly Hills has been sold for a total price of $70,000,000. The property spans a total area of 339,000 square feet, resulting in a price per square foot of $206. The sale of this car dealership was facilitated by Bill Pedersen, David Harrington, and Kyle Matthews from Matthews Real Estate Investment Services.
Summary of transaction details:
- Property Type: Car dealership
- Transaction Amount: $70,000,000
- Address: 5070 and 5071 Wilshire Blvd, Beverly Hills
- Market: Beverly Hills
- Square footage: 339,000 SF
- Price per square foot: $206
The deal was brokered by Bill Pedersen, David Harrington, and Kyle Matthews from Matthews Real Estate Investment Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$248,695.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$331,835.71
Annual Debt Service$3,982,028.55
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