Updated Oct 28, 2024
Foley Enterprises Sells San Diego Retail Portfolio For $15.3M With Marcus & Millichap
1202 University Avenue, San Diego, CA, USA
$15,270,000
$493/SF
Building Size
30,951 SF
Asset Type
Retail
Closing
Sep 29, 2021
About this deal
AI
The retail property located at 1202 University Ave., 1220-1228 University Ave., and 1235-37 Cleveland Ave. in San Diego has been sold. The property spans a total of 30,951 square feet and was sold for a price of $15,270,000. The sale translates to a price per square foot of $493. Foley Enterprises, represented by Tim Foley, was the seller in this transaction.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $15,270,000
- Address: 1202 University Ave., 1220-1228 University Ave., and 1235-37 Cleveland Ave., San Diego
- Market: San Diego
- Square Footage: 30,951
Nick Totah and Ross Sanchez of Marcus & Millichap acted as the brokers for this sale, representing the buyer in the transaction.
San Diego 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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93