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1212 Pacific Coast Highway

Stuart Sackley Acquires Retail Property In Redondo Beach, CA From Abbass Tousi
SOLDRetail

Stuart Sackley Acquires Retail Property In Redondo Beach, CA From Abbass Tousi

1212 Pacific Coast Highway

$5,350,000

$522/SF

Building Size

10,239 SF

Asset Type

Retail

Closing

Sep 20, 2022

AI

The retail property located at 1212 S Pacific Coast Hwy in Redondo Beach, CA has been sold for a price of $5,350,000. The property spans across 10,239 square feet, resulting in a price per square foot of $523. The transaction took place on 09/20/2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,350,000
  • Address: 1212 S Pacific Coast Hwy, Redondo Beach, CA
  • Square Footage: 10,239 sqft
  • Price per Square Foot: $523

The buyer of the property is Stuart Sackley, while the seller is Abbass Tousi. The transaction was facilitated by brokers Ryan Sharpe, representing Kidder Mathews, and Cristian Goodson and Jamie Brooks, representing CBRE.

Players

Ryan Sharpe

Kidder Mathews

Broker

$82.5M

vol

20 deals

Broker

Abbass Tousi

Seller

$10.7M

vol

2 deals

Seller

Redondo Beach 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

2.97%

Cash-on-Cash

-0.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93