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Powers Court Partners Acquires Retail Property In Manhattan Beach For $5.25M

Property Image
SOLD
$5,250,000
Sam Aaron
Bill Durslag
Austin Wolitarsky
+ 1

California

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Retail1,616 SF
Sold 01/06/2021
the dealplayerscompscontact
Property Image
SOLD

Powers Court Partners Acquires Retail Property In Manhattan Beach For $5.25M

1002 Manhattan Beach Blvd, Manhattan Beach, CA, USA

See Similar Deals
Retail1,616 SF
Sold 01/06/2021
Sam Aaron
Bill Durslag
Austin Wolitarsky
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$3,248
Total Square Footage:1,616 SF
Transaction Type:Sale

A retail property located at 1002 Manhattan Beach Blvd. in Manhattan Beach has been sold. The property was purchased by Powers Court Partners for a total price of $5,250,000.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,250,000

The sale was facilitated by brokers Dan Riley, Bill Durslag, Simon Mattox, Austin Wolitarsky, Kyle Woods, and Sam Aaron from CBRE. They represented the buyer and seller in this transaction.

Players

Simon Mattox
Kidder Mathews
Simon Mattox
20 deals$414.9M volume
BROKER
Bill Durslag
CBRE
Bill Durslag
17 deals$391.9M volume
BROKER
Austin Wolitarsky
CBRE
Austin Wolitarsky
21 deals$465.1M volume
BROKER
Sam Aaron
CBRE
Sam Aaron
5 deals$34.6M volume
BROKER

Details

SOLD
IMAGE: Dan Riley, Bill Durslag, Austin Wolitarsky, Sam Aaron, Simon Mattox, & Kyle Woods DATE: 01/06/2021 ADDRESS: 1002 Manhattan Beach Blvd. MARKET: Manhattan Beach ASSET TYPE: Retail BUYER: Powers Court Partners SELLER: 1002 Manhattan Brokers: Dan Riley, Bill Durslag, Simon Mattox @SimonMattox, Austin Wolitarsky @Wallyboyuee, Kyle Woods @KWoodz_, Sam Aaron (Socal Retail Investment Sales and Leasing Advisory @SocalRetailAdvisory) - CBRE SALE PRICE: $5,250,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$280,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14