Updated Dec 4, 2024
PSRS Arranges $3.7M Refinance Loan For Mammoth Gateway Retail Strip Center
26 Old Mammoth Road
$3,700,000
$67/SF
Building Size
54,854 SF
Asset Type
Retail
Closing
Dec 6, 2023
About this deal
AI
PSRS has arranged a $3.7 million, 10-year fixed-rate loan for the refinancing of Mammoth Gateway, a retail strip center in Mammoth Lakes. The property, located at 26 Old Mammoth Road, was built in 1973 and comprises 54,854 square feet on 3.5 acres. It is anchored by Rite Aid and features 13 retail spaces, including a hardware store, pet store, and various restaurants and cafés.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,700,000
- Address: 26 Old Mammoth Road
- Market: Mammoth Lakes
- Square Footage: 54,854
- Acres: 3.5
The loan was arranged by Grady Seldin and Thomas Rudinsky of PSRS, who represented the parties involved in the refinancing deal. The 10-year fixed-rate loan offers favorable terms for the property owners.
On the Map
$3,700,000
$67/SF
Retail
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Mammoth Lakes Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93