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OC Freedomhouse Church Acquires Retail Building In Anaheim For $18M

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SOLD
$18,000,000

California

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Retail46,287 SF
Sold 05/14/2024
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Property Image
SOLD

OC Freedomhouse Church Acquires Retail Building In Anaheim For $18M

10912 Katella Avenue

See Similar Deals
Retail46,287 SF
Sold 05/14/2024
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$388
Total Square Footage:46,287 SF
Transaction Type:Sale

The $18 million sale of a 46,287-square-foot retail building located at 10912 Katella Avenue in Anaheim has been successfully transacted. The asset, originally a Walmart Neighborhood Market, was acquired by OC Freedomhouse Church from a private investor. The deal was facilitated by Blaine Bush of Strategic Retail Advisors.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $18,000,000
  • Address: 10912 Katella Avenue
  • Market: Anaheim
  • Square Footage: 46,287
  • Price Per Square Foot: $389
  • Buyer: OC Freedomhouse Church
  • Broker: Blaine Bush - Strategic Retail Advisors

Strategic Retail Advisors orchestrated the sale of the retail property by connecting OC Freedomhouse Church with the seller. Blaine Bush played a crucial role in ensuring the smooth execution of the transaction, showcasing his expertise in the real estate market.

Players

Blaine Bush
1 deal$18M volume(949) 702-6600
BROKER

Details

SOLD
IMAGE: 05/14/2024 ADDRESS: 10912 Katella Avenue MARKET: Anaheim ASSET TYPE: Retail BUYER: OC Freedomhouse Church BROKER: Blaine Bush - Strategic Retail Advisors SALE PRICE: $18,000,000 SF: 46,287 ~ PPSF: $389 NOTE: Strategic Retail Advisors brokered the $18 million sale of a 46,287-square-foot retail building in Garden Grove. OC Freedomhouse Church purchased the former Walmart Neighborhood Market from a private investor, with Blaine Bush of SRA arranging the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20