Katella Star Plaza Acquires Retail Property On W. Katella Ave. In Garden Grove For $33.5M
10870 Katella Avenue, Garden Grove, California 92840, United States
$33,500,000
$374/SF
Building Size
89,559 SF
Asset Type
Retail
Closing
Dec 16, 2021
AI
An 89,559 square foot retail property located at 10870 W. Katella Ave. in Garden Grove has been sold for $33,500,000. The property, known as Katella Star Plaza, was sold by Red Mountain Group & KAT GG DE LLC to an undisclosed buyer. The sale price translates to a price per square foot of $374 and a capitalization rate of 5.8%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $33,500,000
- Market: Garden Grove
- Address: 10870 W. Katella Ave.
The sale of Katella Star Plaza was facilitated by the following brokers: Sheri Messerlian from NAI Capital Commercial and John Read from CBRE.
Players
Garden Grove 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
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93