Jim's Auto Sales Acquires 17,000 SF Medical Building Package In Harbor City For $5.75M
SOLD
$5,750,000
California
See Similar DealsPackage Deal17,000 SF
Sold 12/24/2020
SOLD
Jim's Auto Sales Acquires 17,000 SF Medical Building Package In Harbor City For $5.75M
25617 Dodge Avenue, Harbor City, CA, USA
See Similar DealsPackage Deal17,000 SF
Sold 12/24/2020
Summary
CALIFORNIA
Asset Type:Package Deal
Price Per Square Foot:$338
Total Square Footage:17,000 SF
Transaction Type:Sale
A package deal consisting of a 17,000 square foot medical building and two residential development lots located at 25617 Dodge Ave in Harbor City has been sold. The transaction was completed on December 24, 2020, with the buyer being Jim's Auto Sales (@JasincMotoring) and the seller being Harbor City Dental Properties LLC.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $5,750,000
- Square Footage: 17,000
- Price per Square Foot: $329
- Capitalization Rate: 5.90%
Rodman Amiri (@Rodman8600) from Merit Real Estate (@MeritRealEstate) represented the buyer, Jim's Auto Sales, while Simon Mattox (@SimonMattox) from CBRE represented the seller, Harbor City Dental Properties LLC. It is worth noting that this transaction involved the purchase of three parcels, including the medical building and the two residential development lots.
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BUYER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20
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