Expert Hardware Flooring Acquires Retail Property In Corona For $4.8M
SOLD
$4,800,000
California
See Similar DealsRetail55,000 SF
Sold 01/21/2021
SOLD
Expert Hardware Flooring Acquires Retail Property In Corona For $4.8M
109 N McKinley St, Corona, CA, USA
See Similar DealsRetail55,000 SF
Sold 01/21/2021
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$87
Total Square Footage:55,000 SF
Transaction Type:Sale
The property involved in this closed transaction is a retail asset located at 109 N. McKinley St. in Corona. It was sold by a buyer named Expert Hardware Flooring. The transaction took place on January 21, 2021, and the property was listed at a price of $4,800,000. The retail space covers an area of 55,000 square feet, resulting in a price per square foot of $87.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,800,000
- Market: Corona
- Square Footage: 55,000
- Price Per Square Foot: $87
The deal was facilitated by the brokers Greg Bedell and Paul Su from Progressive Real Estate Partners, along with Barrett Woods from Lee & Associates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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