Katella Star Plaza Acquires Retail Property On W. Katella Ave. In Garden Grove For $33.5M
SOLD
$33,500,000
California
See Similar DealsRetail89,559 SF
Sold 12/16/2021
SOLD
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
See Similar DealsRetail89,559 SF
Sold 12/16/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$374
Total Square Footage:89,559 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$119,018.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$158,807.09
Annual Debt Service$1,905,685.09
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