Pacific Beach Retail Property Sold For $2M To Tanye Blane; @FiveGuys To Remain Tenant
SOLD
$2,000,000
California
See Similar DealsRetail4,500 SF
Sold
SOLD
Pacific Beach Retail Property Sold For $2M To Tanye Blane; @FiveGuys To Remain Tenant
1020 Garnet Ave, San Diego, CA 92109, USA
See Similar DealsRetail4,500 SF
Sold
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$444
Total Square Footage:4500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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