Pacific Beach Retail Property Sold For $2M To Tanye Blane; @FiveGuys To Remain Tenant
1020 Garnet Ave, San Diego, CA 92109, USA
$2,000,000
$444/SF
Building Size
4,500 SF
Asset Type
Retail
Closing
May 11, 2020
AI
The retail property located at 1020 Garnet Ave in Pacific Beach, San Diego has been sold. The transaction took place on May 12, 2020, with a purchase price of $2,000,000. The property spans 4,500 square feet, resulting in a price per square foot of $444. The seller in this deal was Tanye Blane. The property is currently occupied by the tenant Five Guys.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,000,000
- Address: 1020 Garnet Ave
- Market: Pacific Beach, San Diego
- Seller: Tanye Blane
- Tenant: Five Guys
- Brokers: Brian Pyke & Allison Campbell - Retail Insite
Brian Pyke and Allison Campbell from Retail Insite represented the parties involved in this retail property transaction.
Players
San Diego Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93