PSRS Secures $4 Million Refinance Loan For Retail Property Occupied By Tractor Supply Co
4091 Mitchell Road
$4,000,000
$184/SF
Building Size
21,702 SF
Asset Type
Retail
Closing
Oct 28, 2024
AI
The property asset involved in this transaction is a 21,702-square-foot retail property located at 4091 Mitchell Road in the Ceres market. This asset is currently occupied by Tractor Supply Co. and includes the newly built Fusion Garden Center and outdoor sales area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,000,000
- Loan Type: Refinance
- Loan Terms: Five-year, non-recourse
- Brokers: Kostas Kavayiotidis & Matthew Farzinpour - PSRS- Pacific Southwest Realty Services
This refinancing deal was arranged by PSRS through a correspondent life insurance company, providing funding for the property at Ceres Gateway Center, which is integral to the retail presence in the area.
Players
Ceres Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93