Updated Dec 19, 2023
Mehran Sad Acquires Retail Property In Long Beach For $4.4M
1002 East Pacific Coast Highway, Wilmington, CA 90744
$4,400,000
$175/SF
Building Size
25,045 SF
Asset Type
Retail
Closing
Aug 27, 2021
About this deal
AI
A retail property located at 1002-1030 East Pacific Coast Hwy in Long Beach has been sold in a recent transaction. The property spans 25,045 square feet and is situated in a prime location along the Pacific Coast Highway. The sale price for this retail asset was $4,400,000, resulting in a price per square foot of $175. Ali Lodin and Ryan Sharpe were the brokers involved in the deal.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,400,000
- Address: 1002-1030 East Pacific Coast Hwy, Long Beach
- Market: Long Beach
- Brokers: Ali Lodin & Ryan Sharpe
Mehran Sad purchased the retail property from Rami Grinwald. The transaction was completed on 08/27/2021. The asking price for the property was $4,800,000, indicating a successful negotiation resulting in a sale below the initial asking price.
Players
Wilmington Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Ryan Sharpe to view all their deals.
Browse California retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93