Blake Megdol Buys Retail Property From Hellen Bellanca In Los Angeles For $4.75M
SOLD
$4,750,000
California
See Similar DealsRetail14,381 SF
Sold 02/15/2024
SOLD
Blake Megdol Buys Retail Property From Hellen Bellanca In Los Angeles For $4.75M
111 Avenue 26
See Similar DealsRetail14,381 SF
Sold 02/15/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$330
Total Square Footage:14,381 SF
Transaction Type:Sale
The property involved in the transaction is a retail asset located at 111 Avenue 26 in Los Angeles. The single tenant building, occupied by Rite Aid, spans 14,381 square feet. The sale price for this asset was $4,750,000, translating to $330 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,750,000
- Date: 02/15/2024
- Buyer: Blake Megdol
- Seller: Hellen Bellanca
- Buyer's Rep: Gabe Kadosh - Colliers International
- Seller's Rep: Gabe Kadosh & Nicole Deflorian - Colliers International
- Market: Los Angeles
In this off-market transaction, Gabe Kadosh and Nicole Deflorian were the representatives for both the buyer and the seller, respectively, in the sale of the retail property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$253,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08
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