Updated Dec 5, 2024
Shanna Naim And Nico Atherton Of Skyview Real Estate Partners Completes Retail Lease In Santa Monica
1541 Ocean Avenue
$1
$1/SF
Building Size
16,700 SF
Asset Type
Retail
Closing
Oct 1, 2024
About this deal
AI
The asset involved in the transaction is a retail property located at 1541 Ocean Avenue in Santa Monica. The total square footage of the property is 16,700, making it suitable for various retail purposes. The property has been leased under a NNN lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1541 Ocean Avenue
- Market: Santa Monica
- Landlord: Isaac Simha - Bria Properties
- Tenants: Fogo de Chao, Ghirardelli, Mon Ami
- Brokers: Shanna Naim & Nico Atherton - Skyview Real Estate Partners
- Lease Type: NNN Lease
Shanna Naim and Nico Atherton of Skyview Real Estate Partners represented both the Landlord and Tenants in the leasing process, which involved securing long-term NNN leases with the tenants. This deal successfully brought the property's retail spaces to 100% occupancy, indicating a complete leasing of the available retail area.
On the Map
$1
$1/SF
Retail
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Players
Santa Monica Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15863000.00%
Cash-on-Cash
-4533694.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93