Powers Court Partners Acquires Retail Property In Manhattan Beach For $5.25M
1002 Manhattan Beach Blvd, Manhattan Beach, CA, USA
$5,250,000
$3,248/SF
Building Size
1,616 SF
Asset Type
Retail
Closing
Jan 5, 2021
AI
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
Manhattan Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93