Updated Dec 4, 2024
Katella Gateway Plaza LLC Acquires Retail Building In Garden Grove For $6.8M
10840 Katella Avenue
$6,800,000
$453/SF
Building Size
15,000 SF
Asset Type
Retail
Closing
Oct 30, 2024
About this deal
AI
The transaction involved the sale of a retail building located at 10840 Katella Avenue in Garden Grove. The asset comprises 15,000 square feet and was sold for a price of $6,800,000, reflecting a price per square foot of $453. The property is currently occupied by Dollar Tree under a triple-net lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,800,000
- Buyer: Katella Gateway Plaza LLC
- Seller: Garden Grove Gateway LLC
- Buyer's Representative: Ilmar Kalviste & Sheri Messerlian - NAI Capital Commercial
- Seller's Representative: Shawn Bakke
- Square Footage: 15,000
- Price Per Square Foot: $453
- Market: Garden Grove
NAI Capital Commercial facilitated the transaction with Sheri Messerlian and Ilmar Kalviste representing the buyer, while Shawn Bakke took on the role of representing the seller. This partnership highlights the involvement of experienced brokers in navigating the real estate sale process.
On the Map
$6,800,000
$453/SF
Retail
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Players
Anaheim 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93