Artak Dovlatian Purchases Retail Property From Lina Pellitier In Glendale For $3.13M
1141 East Colorado Street
$3,133,000
$502/SF
Building Size
6,238 SF
Asset Type
Retail
Closing
Sep 3, 2024
AI
The retail property located at 1141 East Colorado Street in Glendale has been sold for a total of $3,133,000. The asset spans a total of 6,238 square feet, resulting in a price per square foot of $502.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,133,000
- Square Footage: 6,238
- Price Per Square Foot: $502
- Buyer: Artak Dovlatian
- Seller: Lina Pellitier
- Broker Representatives: Brandon Michaels & Steven Schechter - Marcus & Millichap
- Market: Glendale
Brandon Michaels and Steven Schechter of Marcus & Millichap represented the buyer and seller in the transaction. The sale was finalized on September 3, 2024, marking a significant event in the Glendale retail market.
Players
Glendale 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
5.06%
Cash-on-Cash
-1.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93